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FAQ’s – Property management

What is a management fee?
How often is there a disbursement?
Do you do financial year statements?
How often do you inspect the property?
Why is ParkTrent different from other agencies?
What is landlord insurance? Do I need to have it?
Do I have to service my smoke alarms?
Is it hard to change from one property manager to another?
What is VCAT?
What are the processes involved in evicting a tenant?

What is a management fee?
A management fee is an amount paid to ParkTrent each month to manage the day-to-day running of your investment property. It includes attending to things like paying bills on your behalf, conducting periodic inspections and identifying potential proactive maintenance issues. We can give you a complete list of tasks that will be covered by the management fee.
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How often is there a disbursement?
We do two disbursements of rent each month, one mid-month, the second at the end of the month.
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Do you do financial year statements?
Yes. We provide monthly statements and an end-of-year statement that will come to you in July.
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How often do you inspect the property?
The number of periodic inspections that we carry out is determined by state law. Some states, like Western Australia, allow 4 per year while Victoria allows for 2. The frequency of periodic inspections will be included in the lease document.
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Why is ParkTrent different from other agencies?
When you sign with ParkTrent Property Management you are partnering with Australia’s largest privately owned real estate company. We have over 35 years’ experience assisting investors with property and we are committed to providing excellent service for all clients. We know that your investment property is an integral part of your wealth-building strategy, so we take extra care to ensure that it is well looked after and generating income.
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What is landlord insurance? Do I need to have it?
Landlord insurance provides coverage for damage to buildings and contents caused by tenants. We suggest that investment property owners interested in renting their property take out landlord insurance. This is something we can assist with.
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Do I have to service my smoke alarms?
Yes. It is the landlord’s responsibility to keep all smoke alarms in good working order. Your ParkTrent Property management team will assist with this.
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Is it hard to change from one property manager to another?
We understand that it may be uncomfortable switching property managers but in most cases it can be done. Our team will assess your current contract and we will provide you with the tools and knowledge to successfully switch to our property management services team.
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What is VCAT?
The Residential Tenancies Division of the Victorian Civil and Administrative Tribunal is where disputes between landlords and tenants are handled.
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What are the processes involved in evicting a tenant?
Eviction is a stressful process but sometimes it needs to be done. The eviction rules differ from state to state but all states require that a written eviction notice be presented to the tenant. The amount of time to comply depends on the state the property is in. Your ParkTrent Property Manager can provide you with more information about evictions.
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