As a landlord you have the responsibility of ensuring your property is safe and well maintained for your tenants and guests to reside in. Below we have compiled a list of your responsibilities and services that as a managing agent we endeavor to provide on your behalf. Although not a comprehensive list, this will act as a guideline to help you make informed decisions regarding your property and it's management.
Landlords’ Responsibilities
Under Queensland legislation a Tenancy or Holiday Guest Stay must be conducted in accordance with the Residential Tenancies and Rooming Accommodation Act 2008 and any updated bills that have been passed in Parliament to date. The Queensland Residential Tenancy Authority (RTA) can supply a handbook that is desgined for Landlords. An essential requirement of the legislation is that all Residential Tenants must at the commencement of their lease be issued a Form 17a - ‘Information Statement: Renting a House or Unit in Queensland’. This is a booklet issued by the RTA containing information about the rights and responsibilities of all parties under the Act. As an agent we obtain copies from the RTA that are printed in English to distribute from our office.
Engaging a Managing Agent
A good managing agent should maintain your investment asset, have a thorough knowledge and understanding of tenancy laws and assist you by ensuring your rights and responsibilities as the landlord are met. All managing agents are required to be licensed by the Office of Fair Trading. You should ensure that the agent you are interested in using is properly licensed. A license check can be done online for any agent you are thinking of using or alternatively by calling 13 32 20.
A managing agent's responsibilities for residential properties include:
• Finding and vetting suitable tenants
• Ensuring the tenancy agreement is correctly completed and signed
• Lodging the rental bond with the Residential Tenancy Authority
• Managing the tenancy for you on a day-to-day basis
• Arranging repairs to the property
• Collecting the rent and maintaining accurate rent records and receipts
• Conducting property inspections
• Handling disputes that may arise.
• Paying the rent into your nominated bank account (less any costs and agency fees).
A managing agent's responsibilities for holiday properties include:
• Finding and booking suitable guests
• Ensuring the guests abide by house rules and council by laws
• Arranging repairs to the property
• Arrange cleaning and linen for the incoming guests as well as garden and pool maintenance.
• Collecting the holiday monies and maintaining accurate records and receipts
• Conducting property inspections
• Handling disputes that may arise.
• Paying the monies into your nominated bank account (less any costs and agency fees).
If rent is paid directly into your bank account, it is your responsibility to check the balance regularly to ensure that rent is being deposited.
Management Agency Agreement
When you engage an agent to manage your property, you will enter into a binding written contract called a Management Agency Agreement. The terms, fees and some conditions of the agreement are negotiable, so shop around and compare the prices and services offered by a number of managing agents.
To save yourself time and effort, you can specify in the Agreement that only repairs costing more than a nominated amount (eg. $350) require your approval. This enables the agent to authorize minor repairs up to that amount.
Standard Management Agency Agreements usually contain a clause stating that a notice period applies to termination. It is in your interest to keep the notice period short, say a month or two. Agreements must be terminated in writing.
Agency Fees
As an Agency we charge our management fee on top of the rental commission. This is regulated by the Queensland Government. GST must also be added along with a monthly administration fee.
Our agency sends you a monthly account. The account shows the amount of rent paid to the landlord less any costs and agency fees.
The cost of minor repairs is deducted from the rent and listed in your monthly statement as a separate item. You will be sent a statement with copies of all invoices attached via email or post at the end of every month.
It is common industry practice for managing agents to charge a letting or re-letting fee when new tenants are placed in a rental property. The normal fee is 1 week’s rent plus GST for all leases.
Smoke Alarms In Residential and Holiday Premises
To enhance safety and minimize loss-of-life in building fires we have qualified contractors check and maintain all smoke alarms. This helps us to ensure that the properties are compliant and meeting ever changing legislation in Queensland. For current information please go to www.fire.qld.gov.au/communitysafety/smokealarms/legislation.asp
Pool Compliance
The Queensland Government in September 2010 introduced new laws to enhance the safety of children around pools. The laws apply to all properties including owner occupied properties. A Pool Compliance Certificate must be obtained and is valid for two years. All Strata Titled properties are required to show this certification on entry to the pool area. For further information please go to www.dlgp.qld.gov.au/pool-safety
Pest Control and Termites
Living in the tropics has many challenges. Pest control and termite inspections are essential to ensure that your property is well maintained, prevent infestation and minimise the risk of possible damage to your property due to attack.
Air Conditioning
Air conditioners are often forgotten about until they cease to work and this usually occurs in summer when they are needed the most. Our agency annually employs an air conditioning company to service the air conditioners in our holiday and rental properties. This is conducted with the landlords consent prior to summer commencing. This service consists of checking out the entire system, checking gas levels and chemically treating the filters to remove mould and bacteria.
Safety Switches
It is a requirement under Queensland legislation that safety switches in all properties be checked every two years. An electrician is required to check that the safety switch activates in a set time frame (measured in milliseconds). We try to ensure that this check is completed whilst an electrician is at the property completing another job to save the expense of two call out fees.
Insurance
Insurance is essential in Queensland not only as a safe guard due to some of our climatic challenges but is a requirement by law for investment properties. As a landlord the minimum insurance that you must have is Public Liability insurance. The insurance will cover you if a tenant or guest has an injury inside your property. We highly recommend all owners insure their property and contents (if needed) as well. Residential Tenancy properties are able to obtain landlords insurance which will cover Public Liability, Building, Contents and Loss of Rent. This insurance is often Tax Deductible. Holiday Home owners can also find some landlords insurance policies will cover their property as well. Owners of properties with Body Corporate or Strata Titled Insurance will need to check their insurance as the Body Corporate insurance does not cover the internals of your property. Please shop around to find the best insurance to suit your needs.
When You Have Problems
The first step in resolving a dispute is to discuss the matter with the parties involved. Ensure you have a clear understanding of your rights and responsibilities in relation to the dispute by checking the residential tenancy agreement, reading the Tenancy handbook or contacting the Residential Tenancy Authority. If the dispute with your tenant cannot be resolved either on your own or with the assistance of the RTA you may have to take the case to the Queensland Civil and Administrative Tribunal (QCAT). For further information please go to http://www.rta.qld.gov.au/qcat.cfm