All rent monies are receipted into our Trust Account and are deposited directly into your bank account on the first working day of the next month. A detailed statement of all monies receipted, showing where the tenant's rent is paid to, is sent to you at the end of every month along with a copy of any accounts paid. At the end of the Financial Year a statement if forwarded to you detailing total income and expenditure for the year for you to lodge with your accountant. There are certain legal requirements in receipting rental payments and our advanced property management office system complies with the Office of Fair Trading regulations.
Rental arrears are a major problem for landlords; however, our office has strategies in place to minimize loss from rental arrears. Residential Tenancy Authority Notices are issues, including:-
- Form 11 - Notice to Remedy Breach is issued if a tenancy falls seven days behind;
- Form 12 - Notice to Leave is issued if rent is not caught up to date within seven days of the Form 11 being issued. A letter will be sent to you to advise that this Notice has been issued.