Investor Frequently Asked Questions
You will always have the final say. We will present the applicants we feel are suitable and provide our advice but, in the end, you make the final decision.
Not only do we insist that prospective tenants supply independent referees but we contact all of them. This includes speaking to employers, accountants, previous landlords or property managers as well as any personal referees. A minimum of 100 points of identification are required and we will need to sight at least two previous pay slips or, for the self-employed, bank statements. Finally, the shortlisted tenant will be checked against the National Tenancy Database which records the history of tenants who have breached their lease agreements or had a detrimental VCAT outcome.
We always keep your property open for 30 minutes. It is common practice to only open for 15 minutes but we feel that this is too restrictive and can potentially eliminate some good quality tenants.
Busy professionals and families sometimes have difficulty attending scheduled opens (even though one of these will be on the weekend). That’s why we will conduct private viewings when this is necessary. After all, the aim is to secure the best possible tenant for your property.
We will conduct two open for inspections per week and one of these will be on the weekend so busy professionals will have an opportunity to view your property. In addition, we will conduct private viewings as required and where legally permitted.
We want to get the best possible tenant for your property so it is important to process the tenancy application urgently. We do this within 24 hours.
No. A representative of Mayfair Property Management will always accompany a prospective tenant to view your property. This ensures that there is no misuse of your property, all the features of your property can be highlighted and a personal evaluation of the prospective tenant can be achieved.
Yes, we will assign you an exclusive password so you can log in and view all relevant details associated with your property.
No. We will act as your representative should the need arise. Of course you are welcome to attend if you wish. However, our system of nurturing our tenants tends to mean that issues can be sorted out before they get out of hand.
Our aim is to make the management of your investment property stress free. But stress free doesn’t mean “in the dark”. We will always keep you up to date with what is happening with your property via emailed monthly statements, copies of inspection reports and any information that is relevant to you. We would also look forward to catching up every now and then to make sure we are exceeding your expectations.
All you have to do is to officially appoint Mayfair Property Management as your exclusive managing agent and we’ll handle everything from there. There is no need for you to contact the previous property manager or tenant. There is no need to wait until the end of the current lease to change management to Mayfair Property Management.
The total number of properties your Property Manager handles will never exceed 120. That means that they have the necessary time to devote to each property. This allows them to be pro-active in managing all aspects of your property.
Yes. You will have one consistent contact who will be responsible for managing your property, communicating with you and ensuring your experience is exceptional.
The rent will be dispersed to you as soon as practical after it has been payed. This is usually within 1 to 2 business days. After all, it’s your money!
Our fee structure is simple and transparent. There is a management fee and a letting fee. That’s it. There will never be any nasty surprises lurking on your monthly or yearly statement.
No. The management of your investment property can be changed at any time with absolutely no effect on the tenant or the validity of the lease. If you would like to switch your property to Mayfair Property Management, all you need to do is give us a call and we will handle everything. There is no necessity for you to contact the previous managing agent at all.
We have two fees in our structure. There is a management fee and a letting fee. Nothing else. (No Monthly Account Fees, No VCAT Appearance Fees, No Statement Fees etc)
