(07) 3708 1001 | rentals@lot42re.com.au

Investor & Tenant FAQs

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Investor FAQs

  • Who holds the bond money?
    All rental properties we manage must have a bond equal to four weeks' rent or more paid by the tenant before moving in.
    Our office collects the bond from the tenants and passes it on to the state government Residential Tenancies Bond Authority who holds the bond until the tenancy is completed.
    Once the exit inspection is completed and no issues have been recorded, water bills and any other invoices are paid, rent is paid up to the vacating date and there are no other issues, the bond can be returned.
  • What keys must be supplied to the tenants?
    All tenants listed on the Tenancy Agreement must be given a full set of keys. This includes keys to all external doors, windows, garage or letterbox locks. We retain a full master set of keys at the office. This may necessitate having keys cut at your expense.
  • How often are property inspections conducted?
    During a tenant’s occupancy, we carry out routine inspections quarterly (maximum permissible). These inspection are carried out to ascertain how the tenants are maintaining the property, and a detailed report with photos is sent to the owner.
    The report will state how the tenant is maintaining the property, along with suggestions of any preventative maintenance. When the tenants give notice of their intention to vacate the property we will book a time to complete a vacate inspection, and an invitation is also extended to the owner.
    This detailed vacating inspection report is completed to ensure that the tenants return the property back to us in the same condition they received it (fair wear and tear excepted). If damage is found or cleaning is necessary, we move to make the necessary deductions from the tenants’ rental bond.
  • Who pays for water usage?
    If there is no individual meter for the rented premises, as in the case of blocks of older style units, a tenant cannot be charged for water usage.
    However, the tenant is responsible for any cost of water used during the tenancy if the property has an individual water meter and has legally prescribed water efficiency devices. It should be noted though that Urban Utilities requires that water availability and usage accounts be paid in full by the owner of the property. We then request reimbursement from the tenant for the water usage component of the account.
  • Who chooses the tenant?

    Once the property manager has reference checked all prospective tenants, final approval is then sought by the owner.

    Our property managers conduct thorough interviews and reference checking to ensure the prospective tenant is of the highest standards and meets all your expectations.

    Tenant selection criteria includes stability of employment, good tenancy track record with their current and past agent and good credit history.

    Once these ticks and checks have been completed we call you to discuss - you as the owner will always have the final say in who resides in your investment.

  • How will you find tenants for my property?
    We at Lot 42 understand that your investment is costing money when vacant, so we work hard to get your property rented fast!
    Our comprehensive marketing plan includes prominent highlighted ads on realestate.com.au and features professional photography to help your asset really stand out from the crowd. We advertise on a number of other popular rental websites, place a large 'For Rent' sign outside your property and conduct both open homes on weekend and private viewings on a per-enquiry basis. We process applications quickly and always keep in contact with you to ensure you're happy with the process every step of the way. Contact ustoday to find out more!
  • When is the best time to advertise my property for rent?
    The time of year that your property is either vacant or due for a lease renewal can have a considerable impact on the demand for your property and, therefore, the return on your investment.
    January – February This is the busiest season in the rental market and the time of year that people are most on the move. Their reasons typically include transferring for work, settling the kids into a new school, students starting university or simply renters who want a change in location or lifestyle.​
    June – August This is the second busiest time of the year in the rental market. New university intakes are occurring and six-month tenancy agreements are due for expiry, so this is another optimal period to maximise demand for your rental property.
  • Do I require a local agent to manage my property?

    The short answer is no.

    One of the most common misconceptions about finding a property manager or Real Estate Agent to manage your property is that we need to be located within your neighbourhood .

    That’s not the case - long gone are the days when prospective tenants went from Real Estate Agency to Real estate Agency looking for homes to rent in any given area. They simply don’t have the time. Over 96% of tenants enquiries come from the internet (realestate.com.au, domain.com.au etc.) our online marketing and newspapers, which means that we can quickly and easily rent out properties in a very large geographical area.

    With our online tools we can readily assess rentals in any given area to determine you are getting the correct market rent that is suitable for your property.

    The bottom line is Lot 42 Real Estate will manage properties across a broad range of Brisbane & Gold Coast areas.

  • How do I change my current management over to Lot 42 Real Estate?

    In two quick and easy steps! Email or call us to request your management be transfered to Lot 42, and we will email or send you our transfer pack which includes a current agency termination letter for you to sign and a new PO6 agreement for you to read through and sign.

    Once you have returned the forms we will get straight on to transfering your current management, and you don't need to do anything else, we will look after the transfer for you - from contacting your current agent to picking up your file, we make sure it's as easy and hassle-free to move as possible.

    We will keep you updated on transfer dates etc. so you'll always know what's going on, and everything else carries on as usual. Changing your property manager over to Lot 42 couldn't be easier!

Tenant FAQs

  • How do we secure the property we want?
    If you are successful in your application, we will ask you for 2 weeks rent as a holding deposit for your property. This holding fee then becomes your first two weeks rent once you have signed your lease and paid your bond (4 x weekly rent i.e. rent of $500 = $2000 bond).
    This 2 weeks rent [fee] must be received within 24 hours of being notified that your application was successful. It is only then that the property will be removed from the availability list.
    Your bond is then also due and payable a minimum of two days prior to your lease commencing.
  • What are the usual lease terms?
    Generally a lease period will span either 12 months or 6 months, however there may be other options available if arranged and mutually agreed upon, so please ask if unsure.
    Other terms such as whether pets are allowed or there is parking etc. can most often be found in the ad description, but again if unsure please don't hesitate to ask us!
  • How do I apply for a property?
    There are two ways you can apply. Online via 1form, link can be found on the www.realestate.com.au property ad, or with one of Lot 42's application forms, either by request, or online via the 'apply now' link.
  • How do I find a property to rent with Lot 42?
    Browse our internet site and www.realestate.com.au site for our available properties. Allow yourself at a minimum 2 weeks prior to your relocation to arrive and begin searching. Prepare by writing a list of your requirements and a budget range for rent so that we can help to find the most suitable property for your needs.
    If you have looked on the internet before beginning your search, you will have a reasonable idea of rent prices in the suburbs of your choice.