Some answers to commonly asked questions about property management.
Frequently Asked Questions
How much will your service cost me?
Barfoot & Thompson charge a flat fee on rent collected and any repairs and maintenance carried out on your behalf. There is no extra charge for routine inspections, monthly and end of year financial statements and mediation or any appearances we make at the Tenancy Tribunal on your behalf.
How do I pay you?
Our commission is deducted monthly from rent collected.
How often do you pay me?
Monthly, or mid monthly, by direct crediting funds into your account. A comprehensive monthly statement detailing funds collected and disbursed on your behalf can be posted or emailed to you anywhere in the world. Copies of invoices of accounts paid are included.
Will there be a cost to me to advertise the property?
No. Barfoot & Thompson do not charge landlords of managed properties to advertise their property.
If My Property Is Vacant Do You Still Charge Me?
Does Barfoot & Thompson guarantee me for any loss of rent?
I will be moving overseas - can you handle all repairs?
Yes. Each Property Management branch uses a range of contractors who are highly skilled, competitively priced and quick to respond to our calls. If you have a preference for any particular tradesperson we would be pleased to accommodate this.
How often will you inspect my property?
Inspections are carried out on a regular basis. The frequency should be discussed with your Property Manager at the commencement of the management.
What would be involved if I wanted to list my property for sale?
Your Property Manager can arrange with any of our experienced sales staff to have the property appraised and then listed for sale. This can be a very delicate situation and it is extremely important it is handled professionally and efficiently. It is our job to ensure you and your tenants' interests are protected.
Tenant must be notified in writing that the property is going to be listed for sale. Once the property is sold, if the term of the existing tenancy is periodic and the sale is subject to vacant possession we will issue the tenant with 42 days notice to vacate once the sale becomes unconditional.
If the term of the tenancy is a fixed term the property must be sold subject to existing tenancies unless the expiry date of the fixed term coincides with or falls before settlement date.
What will you do if my tenant becomes in arrears?
Barfoot & Thompson rent collection is computer monitored enabling us to act very quickly when a rent payment is missed. The debt recovery process commences immediately. Whilst we take every possible action to resolve the matter it may be necessary to take the tenant through the mediation process or to the Tenancy Tribunal. If this is the case you will not be charged for our time.
Do you take a bond?
Yes. The Residential Tenancies Act requires that no more than four weeks bond be collected. Unless otherwise agreed to, Barfoot & Thompson consider two weeks to be the minimum that should be paid.
The bond is paid before the tenant takes possession and held by the Bond Centre until the tenant vacates.
Your local Property Manager would be pleased to answer any questions you have. Find your local Property Manager here.