Frequently Asked Questions
How much is the Management Fee?
Our Management Fee is specifically tailored to your property, with a standard rate being 8.5% plus GST. Management fees can vary depending on the size of your property and the service that your property deserves. As we come to learn more about your specific property, we will further discuss an agreed Management Fee with you.
How quickly will you find a tenant for my property?
Once you have signed a Management Authority with Shellabears Real Estate, we will commence marketing your property. The property will be placed on various relevant websites and our office vacancy list. A ‘For Lease’ sign will be installed outside your property. We recommend spotless presentation of your property and advertising at market value to maximise interest.
How do you check a prospective tenant?
We personally conduct every viewing and meet all prospective tenants. Any interested applicants are required to fill out a detailed Tenancy Application Form. This form requires the prospective tenant to provide all relevant information regarding current/previous employers, current/previous rental references, and character references.
We then cross reference all information by contacting employers, current and previous rental Agents and character referees. These checks are all carried out by your designated Property Manager. We also have access, should we need it, to the National Tenancy Database which the majority of Agents in Australia use to lodge defaulting tenants.
Once we have processed the application you make the final decision on all applicants. We offer our advice if required.
How do you collect the rent from my tenant?
Your tenant will pay their rent directly to us through these options;
Direct transfer into our trust account
Payment at any National Australia Bank
Posting in cheques
Once the rent has been paid by the tenant, when will I receive it?
We make our payments to our landlords on the last working day of each month. We will post and/or email a statement to you once this has been done.
Where is the bond held?
Real Estate Agents are required to lodge all residential bonds with the Bond Administrator via the Department of Commerce eTransaction system.
The bond can only be released at the end of a tenancy if the tenant and owner/Agent agree on the amounts.
What is Landlord Protection Insurance?
This insurance policy covers you for loss of rent and/or malicious/deliberate damage caused by the tenant, which your building insurance will not cover. For details about this insurance, talk to one of our Property Managers.
What about water consumption?
It is the Landlords responsibility to pay for Council sewerage, and drainage rates, Land Tax and all body corporate charges. From the date a tenancy commences, tenants are responsible for paying electricity, telephone, gas and water usage charges. The tenant can be charged for water usage provided the rental property is separately metered. You can request us to arrange for invoices to be forwarded directly to our office so that our accounts department can pay them on your behalf, using rental income received.