Your Property is in Safe Hands with Capstone

FREQUENTLY ASKED QUESTIONS

How do I get the best rent for my property?

Setting your rental price is one of the most critical decisions you will make as the owner of an investment property. Your property manager is the best person to assist you with setting the best rental price for your property.

There are a few factors that must be considered when setting your rental price.

You must consider the condition of the property– Is it in a good state of repair with paintwork, carpets, and its general overall appeal?

What features does the property have that make it appealing and attractive? Quality tenants want good features and if they find what they are looking for, they will be happy to pay a higher rent. Speak with your property manager about extra features your property could have that would assist with achieving a higher rental return.

As the saying goes, ‘location, location, location!’ – If the property is close to sought after places like schools, hospitals, and shopping centers then this will likely assist with a higher rent as tenants want to be closer to what they need to access on a regular basis. If it means less travel time and less travel expenses, then this will create a stronger demand and in turn a higher rent. Speak with us today before you consider your next purchase so we can tell you what locations have a strong demand in our marketplace.

Security of lease – Quality tenants will be after security of lease. Offering a 12-month lease works best. However, if a property is on the market for sale, or you are thinking of selling in the future, you may want to consider other lease options to ensure the property can also be marketed to owner-occupiers.

Getting the balance right between higher rents and less vacancies – Ultimately you need to have your investment property rented and the vacancy periods limited so ensuring that you set the rent at the right level is crucial. There is no point holding out for an extra $10 per week if it means your property is vacant for weeks. We can help you by setting the correct rent and minimising any vacant periods.

What is the application process?

Once your property is advertised, we will either hold open homes or book private inspections to show people through your property. After viewing they can apply to rent the property. Once we have finished processing the application, we will present it to you for your decision. We will NEVER decide, on who will be able to rent your property without seeking your permission.

How do I know I am getting a good tenant?

Ultimately the decision is up to you. We will present you with a summary of the applications and provide you with our professional opinion, but you decide on the tenant who is to reside in your property.

While we undertake comprehensive checks on prospective tenants including rental history, employment and their financial situation, we can never guarantee any tenant as we are unable to control their actions. We can only serve notice of a breach as per Queensland legislation which is why we always suggest that you have quality landlord’s insurance cover, for unexpected situations such as the tenant losing their job and being unable to pay rent or deliberate, malicious damage.

In the same way building insurance covers you for unexpected events such as storm damage, fire, a burst pipe, etc., quality landlord insurance will protect you against loss incurred by non-payment of rent or malicious damage which is not covered by your building insurance policy.

How do you advertise my property?

We will advertise your property for rent using the following property marketing portals:

www.realestate.com.au – www.domain.com.au – www.homely.com.au

Facebook Community Pages

Your property will be marketed on the internet including the following important features:

Property photos – We will upload a selection of quality, professional photos that will allow any tenant to quickly qualify themselves as to the property’s suitability.

Detailed description – We provide an extensive description of the property features to ensure the tenant is well informed.

Floor plan – We will upload a floor plan so tenants can further qualify themselves as to the property’s suitability.

How long will it take to find a tenant?

There is no set time frame for finding a tenant. However, the sooner we advertise the sooner we can find a tenant. Your property must be advertised correctly, at the correct market value and be a well maintained home to secure good tenants in the fastest possible time.

We will also provide inspection times outside of normal business hours to allow as many prospective tenants as possible to view your property.

For a comprehensive list of Services and FAQs - download the Capstone Property Owner's Handbook

Also included in the Handbook is an ‘Essentials items to do List’ to ensure a smooth start to a new tenancy. The checklist has been designed to help ease the preparation process for leasing your investment property.

CAPSTONE RESOURCES

PROPERTY OWNER’S HANDBOOK

The handbook has been prepared by Capstone Property Solutions as a guide for property owners and investors.

This comprehensive Property Owner’s Handbook is a service to our clients. It will familiarise you with our property management processes and procedures and our tenancy/ property management expectations.

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