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Finding and retaining great tenants

By Sandy Davey

Ray White aims to make finding and retaining great tenants easier and more stress-free for landlords. Read on to discover our most frequently asked questions and their answers.

Why do Landlords Have to Pay the Let Fee?

The let fee covers everything that we do to get the tenant into your property, right up until the day that they move in. This covers advertising, showing the property to prospective tenants as many times as needed, processing the applications, vetting applications, checking facts, all the paperwork, and doing the Entry Condition Report.

What Do You Check With Each Tenant Application Form?

It’s just as important to us as it is to our landlord that we find a suitable tenant who will pay rent on time and look after the property. Firstly, we check for 100 points of ID for every tenant listed on the lease. Secondly, we assess their ability to pay the rent by looking at their income and copies of previous payslips. Thirdly, we check with each tenant’s previous agents to discuss their rental record and determine their suitability, as well as thoroughly assessing a copy of the rent ledger.

Does the Landlord Have the Final Say on Which Tenant is Selected?

Absolutely. After we do our checks and have selected the best tenants possible, we send an email off to the landlord followed by a phone call to provide a summary of the application and get the final approval. If there are any clarifications required, we will get this information for you from the tenant so that you can make the decision.

What Happens After a Tenant is Approved by the Landlord?

That’s when all the fun starts! We begin completing the paperwork and getting all the signatures that are required. This includes the Entry Condition Report with photos of the condition of the property before the lease begins.

How Do You Ensure the Rent is Paid on Time?

Firstly, we encourage our tenants to go onto a direct debit system for an easy ‘set and forget’ payment approach with text reminders. Secondly, we have excellent property management software which keeps track of late payments with an arrears list that updates daily. Tenants get phone calls and texts if late and are educated during the initial lease signing on the importance of maintaining a pristine rent ledger for future rentals.

How Often Do You Inspect Properties?

We inspect properties at least 3 times a year, or every 12-16 weeks as agreed upon with the landlord. You’ll receive a full report with colour photographs that are stamped and dated, as well as a phone call to discuss the results.

We’re the Specialists in Residential Rentals

There is currently a huge demand for rentals on the Gold Coast and the market is overflowing with quality tenants. If you’re a landlord or are considering becoming one, there’s never been a better time to secure a great rental return and reliable tenant for your home. Give our Ray White Labrador a call today – as specialists in finding and retaining great tenants for landlords, we can discuss your Gold Coast property management needs and help you to sort through the best applications to lock in your ideal tenants.

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