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Frequently Asked Questions (FAQ)

How Will I Know How My Property Is Performing?

You will have complete access to all information regarding your listing including pricing, guest communication, income, and reviews. We will provide full transparency on how we work to achieve your goals.

How long will it take to lease my property?

At Your Address, our average time to lease your property varies depending on market conditions, however in recent months it has averaged less than 14 days. We begin marketing your property the day it becomes available to rent and unlike many other real estate companies, we have specialised leasing consultants focused solely on finding you a qualified tenant in the quickest possible time.

When you find an applicant for my property, how do you qualify them?

We strive to provide you with the calibre of tenants that you want in your rental property. This includes: • An interview with one of our highly experienced property managers • A 100 point identification check. A detailed tenancy database search. Verification from their current/former landlords/agents, Verification of their employment, Verification that they can afford the rent and all other monies payable under the tenancy agreement. In addition to the normal financial qualifications, we always try to accommodate the housing needs of our tenants to ensure the property they rent is convenient to their work, shopping and desired school district. This will help to ensure that they will be happy tenants and remain longer in your rental property. Once interviewed and reference checked by us, applications that met the criteria will be presented to you for approval before any tenancy documentation is entered into.

How quickly do you process the rent statements to property owners?

We pride ourselves on quick processing of rent statements. We close off our monthly accounts on the last business day of every month. Rent Statements will be posted or emailed to you on the next working day. Unless you instruct otherwise, your rent monies will be deposited into your bank account by electronic funds transfer (EFT) on the next working day after our monthly close off date. We can also arrange a mid-month payment on the 15th (or closest business day) of each month should you request it.

How often, and how are property inspections conducted?

When your property is vacant, we inspect it at least once a week. During a tenant’s occupancy, we carry out routine inspections every 3 months, (Maximum permissible) these inspection are carried out to ascertain how the tenants are maintaining the property, a detailed report with photos is sent to the owner, the report will state how the tenant is maintaining the property, along with suggestions of any preventative maintenance. When the tenants give notice of their intention to vacate the property we will book a time to complete a vacate inspection, an invitation is also extended to the owner. A detailed outgoing inspection report is completed to ensure that the tenants return the property back to us in the same condition they received it (fair wear and tear excepted). If damage is found or cleaning is necessary, we make the necessary deductions from the tenants’ rental bond.

How are rental collections handled?

Our rent collection policies are as follows: – Tenants are required to stay up to date at all times, – If your tenant is 3 days late with their rent, they are personally phoned, emailed or sent a text message – Tenants who are 5 days in arrears will receive a letter, this is followed up with a phone call at 6 & 7 days in arrears, at 8 days an official RTA Notice to Remedy Breach is issued, the tenant receives a phone call on a daily basis if the arrears is not brought up to date, If the outstanding rent has not then been paid within 4 days, we will contact you to advise you of the situation and to seek your instructions regarding possible termination of the tenancy. At the expiry of the Notice to Remedy Breach a Notice to Leave is issued requiring vacate possession of the property within 7 days. Please note if this procedure is not followed it could void Landlord Insurance.

Are you the cheapest property management business in the area?

Probably not. Because we believe we are the best property management business in the area, we employ the best quality people who are focused on providing a level of service unsurpassed in the industry. We have found that charging a discount price means a lower level of service. Therefore, we charge a competitive fee commensurate with the high quality of service we provide to our clients.

Why should I choose LetUs?

In three words, “Experience”, “Expertise” and “Passion”. Our clients know that our people make the difference.


Landlords FAQs

1. How long will it take to lease my investment property?

MICM Property’s average time to lease an investment property varies, dependent on market conditions. We make sure your property has maximum market exposure through:

  • Extensive online advertising
  • Eye catching newspaper advertising
  • Prominent signage
  • Our detailed weekly rental list
  • The MICM Property courtesy car to transport prospective tenants to and from your investment
  • MICM Property’s network of six offi ces open seven days a week

The above factors ensure that MICM Property has one of the lowest vacancy rates in Melbourne.

2. Do MICM Property leasing staff personally show prospective clients though my property?

We aim to have a leasing consultant accompany all prospective tenants during inspections. This means that our leasing consultants can answer any queries immediately and ensure that any facilities such as pools, gyms, tennis courts, security features and on-site parking are identified.

3. When you find prospective tenants, how do you qualify them?

Before any application will be considered, MICM Property conducts an extensive background check on every applicant, including:

  • Confirmation of the applicant’s employment or source of income
  • Confirmation of past and current landlord/agent references
  • Confirmation of the applicant’s identity through our ‘100 point’ check system

4. What is your process for dealing with rent arrears?

In accordance with the legislation, all tenants have a 14 day grace period in which to pay rent before legal action can be taken by the landlord. Our policy regarding rental collection and arrears is as follows:

  • MICM Property will contact all tenants in writing who have not paid rent by the 5th day of their rental being due
  • If the rental is still not received by the 8th day, the tenant will be telephoned asking them to make payment as a matter of urgency. You will also be contacted and advised of the late payment
  • If rental still remains unpaid after 14 days, MICM Property will issue the tenant with a 14 day notice to vacate for non-payment of rent
  • An application to VCAT (Victorian Civil and Administrative Tribunal) will follow three business days after the notice to vacate, requesting possession of the property
  • If the matter cannot be resolved and is bought before VCAT, MICM Property will attempt to obtain an order entitling the landlord to possession of the property
  • Once the landlord has possession of the property a subsequent application is made to VCAT. This application allows MICM Property to retrieve the bond and cover any outstanding rental

5. Can MICM Property assist with the sale of my property?

MICM Property has developed a team of professionals who are confidently able to advise on current market conditions and preferred sales methods to achieve the best possible result.

Statistics on sales data show that MICM Property’s sales team has time and time again achieved better results for owners than any other company.

If you are considering selling, please contact your Property Manager to arrange a free market appraisal.

6. How frequently will you inspect my property?

As your managing agent MICM Property has a responsibility to inspect your investment property. We will conduct the following inspections:

  • Prior to your tenant occupying the property
  • Upon the tenant vacating the property
  • Every six months during the tenancy
  • Additional inspections may be required during a tenancy to complete maintenance, property valuations or if the property is on the market for sale

7. What happens if my tenant vacates?

When your tenant decides to vacate the premises at the expiry of their fixed term, they must submit written notice of their intention to vacate 28 days prior to vacating.

If your tenant decides to vacate the premises prior to the expiry of their fixed term lease, commonly known as ‘breaking the lease’, there may be costs incurred by your tenant.

Should an unforseen circumstance arise whereby your tenant must break the lease agreement, the
vacating tenant may be responsible for charges associated with re-letting the property, including advertising and on-going rental until a new tenant is found.

Marketing your investment starts once your tenant submits their notice to vacate.

8. How frequently will you pay rental funds into my account?

Rental monies received by MICM Property will be transferred into your nominated bank account as
soon as your tenant has made payment. Tenants’ payments via direct debit or cheque will require three business days clearance in our trust account. A landlord statement will be prepared detailing the income and expenditure activity represented by the monies transferred and all invoices paid on your behalf will be attached.

9. Can you send me rental statements by email?
We can send all correspondence, including statements and invoices by email, rather than the standard postal service.

10. How frequently will you communicate with me and what form will it take?
You will hear from us as much or as little as you like. At a minimum your property manager will contact you:

  • Each week during a vacancy period
  • When an application to lease the property is submitted
  • Each time a routine inspection is done (every six months)
  • If the tenant falls into rental arrears
  • When it is time to review the rent
  • When a tenant gives notice that they will be vacating

Contact will occur via letter, email or phone. If you have a preferred method or frequency of contact please let us know and we will endeavour to communicate with you as advised.

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