Frequently Asked Questions by Investors
If you do not see your question answered on this page, see our Step by Step Management Process for landlords here, or contact us here and we will be happy to help. You and your property are very important to us!
Q: Do I need to have my property professionally cleaned before I lease it out?
A: It is not a legal requirement but is certainly recommended.
Q: Do tenants need to have the property professionally cleaned when they vacate?
A: 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.
How is rent and tenancy related funds collected from my tenant?
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.
Q: How are leasing and marketing fees collected?
The Leasing Fee will be collected from the first two weeks rent that is paid prior to the tenant moving in. To spread the cost for you and upon request we are happy to collect the marketing fee (including advertising, professional photography and for lease board) from the 2nd month’s rent.
What happens at the commencement and termination of the tenancy at my property?
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.
Q: How are management fees charged and collected?
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).
Q: Will I be charged any other monthly fees?
No, our monthly management fee is all-inclusive with no additional extras.
Q: What is an End of Financial Year (EOFY) statement? Do I have to pay for this?
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 emial. There is no additional charge for this service
Q: How is rent collected and when is it disbursed to me?
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.
Q: What does the leasing fee include?
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
Q: What if I have my own tradespeople that I would like to use instead?
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.