FAQ’s & Fees

How do I change over from my current property manager to Vault Property Management?

It is as simple as a few signatures.

All you need to do is just let us know that you want to work with us and we put together the paperwork, get you to sign it off and then we advise your previous manager and arrange to pick up the keys.

Is there any cost to change over to Vault Property Management?

Typically there should not be any costs for the change over. You should also not incur any charges from your previous manager to end the agreement.

How do you know how much to rent my property for?

We have a team of experienced property managers, as well as qualified property valuers that specialise in working exclusively with investors. Our combined expertise allows us to be at the forefront of the rental market to ensure your rental returns are maximized at all times. We work closely with you to ensure you are renting your property for the best possible price.

 Should I use a local property management firm or a national one?

You can have the best of both worlds with Vault Property Management. We are a national firm with our HQ located in Sydney, but in every location that we are managing properties for our investors we have a team on the ground to support this. Our expert managers on the ground level have local knowledge and local contacts to ensure your property is looked after with the highest level of care and commitment from our team.

We are large enough to provide first class service across your whole portfolio, but local enough to prove a personalised service at ground level.

How do I ensure I get a good quality tenant?

At Vault we have a proven track record for our stringent tenant selection process. We do thorough reference checks, search their rental history in our national tenant database, conduct a thorough interview with the applicant and also discuss all applications with you before accepting them.

Our senior property manager Vicki, has been in the industry for decades and has only had to appear at the tenancy tribunal a handful of times. This is a testament to her quality tenant selection process, as some agents have to appear in the tribunal on a monthly basis due to poor tenant selections processes.

What happens if my tenant goes in to rental arrears?

Prevention is better than a cure. This is where tenant selection is crucial, ensuring that the tenant can afford the rent to start with.

If tenant’s fall behind in rent they are warned via SMS from 3 days to 7 days, 8 days they are contacted by phone and 9 days they are issued with a written warning. On the 15th day a termination is issued. The landlord will be advised of progress along the way and your permission sought before termination is issued.

Fees

Property management fees are generally charged as a % of the weekly rental income. There is also an additional fee to lease the property when a new tenant needs to be located. That fee is typically one or two weeks rent, plus any advertising costs.

At Vault Property Management, we charge only 1 weeks rent to find you a new tenant. We also charge a % of the weekly rent. We keep a close eye on the market and we see management fees typically range between 5.5% – 9% with other property management firms.

We keep our fees within the market scale, with variations within this range being attributed to location of the property, the rent that is being achieved and how many properties you place with us.

We pride ourselves on being competitive with our fees, but we also are not necessarily the cheapest out there. This is because we are not going to provide you with a cheap or inferior service, we will strive to set the bench-mark for communication, professionalism and providing all of our investors with a stress free experience. We also will not hand you over to a 20 year old junior that has minimal life and property experience. You can rest assured that all of our team are highly qualified and have extensive industry and life experience. After all, we are looking after your greatest asset.

It is very easy to move your investment property over to Vault, it is as simple as a few signatures.

Just call or email us and we take care of the rest. We even inform your current managing agent so you don’t have to.

So if you’re not happy with your current manager, then STOP paying them your hard earned money.

Isn’t it time to change to a team that will look after your best interests and help you get the most out of your property?