Question 1

Do I need to have my property professionally cleaned before I lease it out?

Accepted Answer

It is not a legal requirement but is certainly recommended.

Question 2

Do tenants need to have the property professionally cleaned when they vacate?

Accepted Answer

The property needs to be reinstated to the condition at the commencement of the tenancy. Legislation does not stipulate that the property needs to be professionally cleaned.

Question 3

How is rent and tenancy related funds collected from my tenant?

Accepted Answer

Your tenant will be provided with Palm Property Management bank details and/or Bpay details for the collection of the initial rent and bond as well as the subsequent rent amounts that are payable by them. A tenancy ledger is provided to the tenant upon their request.

Question 4

How are leasing and marketing fees collected?

Accepted Answer

The Leasing Fee will be collected from the first two weeks rent that is paid prior to the tenant moving in.

Question 5

What happens at the commencement and termination of the tenancy at my property?

Accepted Answer

We take every opportunity to enter the property and engage with your tenant as part of our focus on customer experience. We arrange to meet the tenant at the property to complete our detailed sign up process and handover of keys. During this appointment, we walk the tenant through the property and address any questions they may have so that they are able to feel comfortable with us and the property from the beginning. At the termination of the tenancy, we meet the tenant at the property to collect the keys from them and carry out a final inspection which they may choose to be present for.

Question 6

How are management fees charged and collected?

Accepted Answer

The management fee is charged as a percentage of the rent collected. The fee is taken off the rent amount collected, and the balance is disbursed to you (less any outstanding invoices).

Question 7

What is an End of Financial Year (EOFY) statement? Do I have to pay for this?

Accepted Answer

An End of Financial Year statement is a document that registers all income and expenditure for your property for the past financial year. This is generated early in July of each year and sent out to you via email. There is no additional charge for this service.

Question 8

Will I be charged any other monthly fees?

Accepted Answer

No, our monthly management fee is all-inclusive with no additional extras.

Question 9

How is rent collected and when is it disbursed to me?

Accepted Answer

Rent is collected weekly, fortnightly or monthly (depending on the tenant preference). Funds will be disbursed to you as soon as they clear, or on any date of the month chosen by you. A statement for the funds disbursed to you is issued as soon as the rent is disbursed or monthly – it’s your choice.

Question 10

What does the leasing fee include?

Accepted Answer

The leasing fee pays for marketing your property, opening the property for inspection, processing prospective tenant applications, preparation and signing of documentation, collection of rent and bond, lodging of bond with the RTA, preparation of the Entry Condition Report and the completion of the commencement of tenancy handover process.

Question 11

What if I have my own tradespeople that I would like to use instead?

Accepted Answer

We have a number of trusted and reliable trades people who run well established businesses on the Sunshine Coast. In most cases, we will provide before and after photos for maintenance that is carried out. If you have trades people that you would prefer to use, we will be happy to engage them upon your instruction. We will also organise to have their invoice settled through the rent if this is your preference.

Investor FAQs

Frequently Asked Questions by Investors