How is Panoptic Realty different to other Property Managers?
Simply – we treat your Investment / Rental Property as though it were our own!
How much will it cost for you to manage my Property?
Every Property Owner’s requirements are different. We can tailor our services to meet your specific needs. Professional Property Management services attract fees, and provided they are done correctly, will actually save you money in the long term!
Our industry competitive Property Management Services fees range from 7% to 9% of the Rental amount.
Can you manage my Property even though it is located in another Suburb?
We are not in the business of taking on Properties in areas that we are not capable of servicing. Depending on where your Property is located, we will honestly advise you if we are in a position to successfully manage your Property.
How long will it take you to find a Tenant?
Honestly – nobody can give to a precise answer to this question. There are many external factors which are way beyond our direct control, which must be taken into consideration – and will directly influence the time frame to find a suitable, qualified Tenant.
We start marketing your Property the moment you place it in our care. Your Property will immediately be cross matched with all prospective Tenants on our database and circulated to our team of specialist leasing agents. We make sure that the Rental Property quickly appears on major Rental Property websites.
We devote all our resources into getting you the most suitable Tenant, in the shortest time possible, for the highest possible rent.
Where do you get your Tenants from?
We attract our tenants from a variety of sources; E.g.
- Our huge Database of qualified prospective Tenants
- Internet and social media advertising
- Prominently placed “For Rent” boards
- Newspaper advertisements
- Corporate Companies and Executive relocation services
- Relocation Agency services
How do you qualify prospective Tenants?
We conduct a strict, comprehensive screening process which aims to obtain the best possible Tenant for your Property. Our detailed Tenancy Application form enables us to establish current and previous tenancy and employment history. (Refer to the “Tenant” TAB on this website to view a copy of our “Tenancy Application” form). We also undertake a reference check using “TICA” (Australia's Largest Tenancy History Database to the Real Estate Industry), which assists us in the process of Tenant qualification. Once all the required information has been obtained and confirmed, we present the Tenant Applications to you for your evaluation, consideration, decision and final Tenant selection.
Can you guarantee that the Tenant will pay the Rent on time and won’t damage my Property?
Unfortunately, nobody can give you that guarantee because there are many unforeseen circumstances that can go wrong for the Tenant – and the Landlord.
The keys to reducing the possibility of incidents occurring are:
• Careful tenant selection
• Strict arrears control
Panoptic Realty uses both of these tools to minimize the chance of loss to the landlord.
Do I need to have Property Insurance?
Yes – we strongly advise you to have Landlord Property Insurance to minimise risk, in the event of anything untoward happening. Your insurance cover should include Building, Contents and Public Liability. We advise you to discuss your requirements with your Insurance Broker and/or Financial Advisor.
What happens if the Tenant does not pay the Rent on time?
The key to arrears management is systematic, timely and frequent monitoring of Rent payments.
Whilst we would love to say it’s a quick and hassle free process, the reality is that the RTRA Act 2008 outlines that certain steps must be taken before you can apply to the Tribunal for a Warrant of Possession.
The following summary provides you with details of the process:
Day 3 - Phone call to Tenant.
Day 5 - Reminder letter, sms/email to Tenant.
Day 8 - RTA Form 11 Notice to Remedy Breach issued to Tenant (Hand Delivered). The Landlord is also provided with a copy of the issued RTA Form 11.
We continue to monitor the situation and make additional contact with the Tenant as needed during the remedy period outlined in the RTA Form 11.
Leading up to the expiry of the RTA Form 11, we discuss the situation with the Landlord and seek written instructions to proceed with issuing a RTA Form 12 Notice to Leave.
Day 16 - Once the RTA Form 11 has expired (in this situation Day 15), we hand deliver a RTA Form 12 Notice to Leave.
We continue to monitor the situation and make additional contact with the Tenant as needed during the notice to leave period outlined in the RTA Form 12.
Leading up to the expiry of the RTA Form 12, we discuss the situation with the Landlord and seek written instructions to proceed with the matter and apply to QCAT for a Warrant of Possession for failure to leave. Note: We can only apply to the tribunal if the Tenant does not vacate by the expiry of the RTA Form 12.
Day 24 - Apply to QCAT with an Urgent Application - under the grounds of Failure to Leave.
It’s important to act as soon as a Rent Arrears situation happens - no matter what the circumstances behind the issue are. In order to minimise risk and loss, Panoptic Realty stringently implements this process.
Are you Licenced Real Estate Agents?
Yes, we are Registered Full Licensed Real Estate Agents and Members of the Real Estate Institute Queensland (REIQ).
What if I want to sell my Property?
You can sell your Property at any time you want to, however, you must keep in mind that the General Tenancy Agreement is ongoing, until such time that it is terminated in accordance with its’ Terms and Conditions.
Can I transfer my Property to another Property Management Agency?
By law you have the right to transfer from Agent to Agent at any point in time, however, you have a legal obligation toward your Tenant, which you must honour – irrespective of who you’re Property Management Agent is.
We trust that this will not happen, and sincerely urge you not to hesitate to contact us at any time, should we not be meeting your expectations in any way!
Will I, as the Landlord, have a say once I appoint Panoptic Property Management?
Definitely Yes! We take instruction from you!
You can choose to have as little or as much input in the management process of your property. Your specific requirements will be discussed with you in detail, and upon our agreement, we will ensure that your needs are met.
Do I still pay Management Fees if my Property is vacant?
Our fees are charged on the Rent received from the Tenant. So no Rent income for you - means no fees for us.
Once my Tenant has paid, how quickly can I get my Rent?
Panoptic Realty processes transactions daily and is therefore well positioning to be able to transfer your Rent as soon as confirmation of clearance of the Tenant payment has been established. All funds received are processed through our audited General Trust Account.
How else can you help me?
We do much more than just collect rent. To help you understand how Panoptic Realty can be of service to you – please do not hesitate to discuss your specific needs with us. We are more than willingly and able to assist you within our boundaries of Professional Property Management Services.