FAQ - Otago Flats
How often is rent paid into my account?
Payments are made every fortnight by way of direct credit in to your nominated bank account. A statement is issued at the same time outlining the debits and credits for that period.
Can Otago Flats take over properties with existing tenants?
Yes. Otago Flats Management often takes over the management of properties already being managed privately or by another management company. Once you have authorised Otago Flats to act as your property manager, we will contact the current property managers for all legal documentation that we require in order to effectively and seamlessly take over the management.
Can I access the property throughout the tenancy?
Yes you can, however you must allow for 48 hours’ notice to be given and ask your acting Property Manager to notify the Tenants. It is advised that your Property Manager is present and updated with any communication thereafter to ensure that we have a record of any tenant communications.
What happens when a tenant stops paying rent?
The day that a Tenant falls behind in their rental payment they are followed up with a phone call. If they have not paid their rent in 3 days they are issued with a 14 Day Notice of Breach, advising them that they are behind in rent and requesting that they rectify the issue with payment. If payment is not made within the stipulated time period, then a claim will be lodged with Tenancy Services, where they will escalate the case to Mediation or Tribunal. Either way, this will result in a Court Order which is legally binding and able to be enforced.
What is a property condition report?
This is a report that is completed prior to the tenancy commencing. The report offers a thorough series of photos and notes showing the condition of the property prior to the tenant moving into the property. The tenants are provided a copy of this report which is often and asked to sign and date each page, noting down any other areas they believe to be of concern. This is returned to us within 5 working days, stored under their file and referred to at the end of the tenancy when completing the Final Inspection. This also gives us the opportunity to address any issues that require urgent attention to ensure a smooth tenancy ahead. Lastly, it highlights the level of service and professionalism of management as a standard for the relationship.
What is covered by the management fee?
The following services are included:
• Arrangement of any maintenance required
• Rent appraisal
• Preparing written tenancy agreements in accordance with your instructions
• Bond lodgements
• Monthly statements
• Collection of rent
• First and final property inspections
• Regular communication with you
• Dispute resolution
• Compliance with all statutory requirements of the Residential Tenancies Act 1986 and amendments
• Twice-monthly payments to you by way of direct credit
• Open and honest communication with you and your tenant
Do I pay fees if my property is vacant?
Absolutely not. There are no fees payable to Otago Flats, if your property is not tenanted.
How often can rent be reviewed and can I be consulted?
We carry out rent reviews at the expiry of a Tenancy Agreement or on an “as required” basis. Yes, you can have input into rent reviews at your request and can be notified in advance of any rent increases, as the reviews are carried out.
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Is your property currently managed? (no problem if it is, we will handle the switch).