Questions & Answers

An investment property is one of the biggest assets a person will ever own. The presentation of the property is the key to receiving the best possible rent return.

The key roles of MIG Property Manager:

  • Advertising your property for rent
  • Open your rental property for viewings
  • Screening tenants including reference checks, rental history review
  • Manage the condition report process
  • Manage the tenancy agreement signing process and handling questions
  • Manage your financial accounts for the investment property and provide regular reports
  • Inspect the property on a regular basis
  • Organise tradesperson for repairs and maintenance

How do I prepare my property for rent?

Not only does a rental property that presents well have a higher chance of securing a high quality tenant, but chances are, they’ll take better care of it also.

Always put your best foot forward by de-cluttering the surface areas, the carpets must be freshly cleaned and all debris and personal belongings removed from the house. Neutral window coverings such as blinds should be left. It is not always necessary to paint, however it is important to provide tenants with clean well cared for housing.

Our property manager will be happy to discuss any necessary repairs or maintenance concerns with you. They are knowledgeable about cost effective ways to provide the best care for a property. They know what tenant’s desire and how best to meet those concerns.

How long will it take to rent my property?

There are a variety of factors that influence how long it will take to find a tenant. This includes the time of year for advertising, comparable properties that are currently on the market, vacancy rates in the area and the overall presentation of the property. If  your property has been kept updates, fresh and clean and offers a homely space which is value for money, the rental market will respond favorable which will attract the ideal tenant for you.

Do I need Landlord Insurance?

No matter whether you’re managing the property yourself or whether you’re using an agent, make sure you have landlord insurance in place before leasing. A landlord insurance policy will cover you for unpaid rent and any unforeseeable damages that result from the leasing period.

How am I protected if the tenant damages the property?

A security deposit, known as bond, is taken at move-in in order to minimize the risk of tenant damage. Tenants who pass our screening criteria generally do not create any damages over the amount of the security deposit. Our screening process checks credit, eviction records, employment and rental history.

We also perform a complete move-in/move-out inspection of the property, also known as an entry and exit condition report. This includes written documentation of the property condition and digital photography.

Should the tenants leave the property owing more than is covered by the security deposit, they will be billed. If they do not pay, the owner may choose to pursue the tenant for damages and the account can be turned over to a collection agency.

Who does the repairs on the properties you manage? Can I use my own contractors?

We use a variety of outside contractors depending on the work that needs to be done. Many of our tradespeople have been with us for years and are available 24 hours a day for emergencies. They work at competitive rates and are licensed and insured as appropriate to their profession. You are billed for exactly the amount of the invoice; we do not charge for supervision of normal repairs. If still preferred, we can use your own contractors. However our standard procedure of obtaining a supplier agreement and necessary license/insurance documents will apply.

When do I get my rental income each month?

Statements to owners, along with their monthly disbursement proceeds, goes out in the last week of the month. Monthly disbursements are deposited directly into your bank account and monthly statements will be sent via email.