FREQUENTLY ASKED QUESTIONS
Why use Vault Property Management?
Vault Property Management specialise in residential property management – meaning our core focus is on you and your investment. We pride ourselves on communication and welcome you to come and experience our customer service.
With a team of experienced property managers across three states, we are your ideal solution if you have multiple investments in these states. Vault PM can help with managing these with one point of contact and access to our online portal so you can be as hands on as you choose to be.
What experience does your team have?
We pride ourselves on having a team of mature property managers to service your investment property who have worked in the industry for a combined 45 years of service.
We are accredited and licensed and are proud members of the REINSW, REIQ and REISA to keep abreast of any industry and legislation changes.
What’s the difference between Vault Property Management and a local real estate agency?
A local agency will typically only travel to a maximum of 30 minutes from their location and often will concentrate on their sales department over their rental department, typically employing younger, inexperienced staff to handle your investment to save costs.
At Vault Property Management with our mobile managers on the ground means we can cover a larger geographic to manage your portfolio. We also only specialise in residential property management so our sole focus is your investment property so we can help you make it work for you.
How do you look after my investment property?
Vault PM have several ways we look after your investment property:-
- Careful tenant selection with our 5 step application process
- Detailed ingoing condition reports to protect your investment at the vacating process
- Organise maintenance in a timely manner to avoid major expenses
- Three monthly routine inspections
- Regular rent reviews and lease renewals to maximise your rental returns.
- Communicate regularly so you are aware at all times on where everything is up to.
How do I switch to Vault Property Management?
It is easier than you think, just click on the link and fill out the information requested and one of our specialist property managers will be in contact.
We will organise everything for you such as collecting the file and keys and the only change for a tenant is bank account details.
Is there a cost to switch?
Switching over to Vault PM does not cost you a thing. Once we have the address and previous agents details you can leave the rest to us. You will need to check your current Managing Agency Agreement for any exit or termination costs.
What areas does Vault Property Management service?
Vault Property Management service the areas of…
- Sydney’s Western suburbs, Eastern suburbs and Sutherland shire
- Wollongong, Illawarra and Shoalhaven Region
- Suburban Brisbane
- Suburban Adelaide
Can I have multiple properties managed by Vault Property Management?
You most certainly can. Vault PM operate in Adelaide, Brisbane, Illawarra, Shoalhaven and Sydney, instead of dealing with multiple different agencies you will have just one point of contact.
What rental management system do you use?
We use multiple platforms to better our service to our clients.
There are two main platforms we use. Our rental management system is Property Tree and we use Maintenance Manager to log our maintenance.
Other platforms we use are our CRM, inspection system for routines/ingoing/outgoing reports and a system to track our tenant applications and building an extensive database of prospective tenants.
How do I know I’ll get a good tenant?
Vault PM have a 5 step application process which involves, ID checks, employment checks, tenant default database, previous rental history and affordability.
We also take care in qualifying a tenant at the open for inspection and finding the right fit for the property.
What happens if my tenant goes into rental arrears?
At Vault Property Management we have zero tolerance for arrears.
Our property managers carry out arrears reports on a daily basis. If tenants go into arrears there is a process in which we follow, from 3 days of arrears we are in contact with the tenant up to sending breach notices and evictions. With several points of contacts such as phone, sms and emails.
It is important to note that we are also in contact with you so you can be prepared if you need to cover that next mortgage payment.
What if the tenant needs to be evicted?
We are governed by the Residential Tenancy Act for the relevant state.
At Vault Property Management we have stringent processes and checklists in place to ensure the termination is conducted as efficiently and smoothly as possible.
Once again you are communicated with through the whole process.
Who looks after repairs and maintenance of my property?
Once your investment property is with Vault PM you are assigned one of our experienced property managers who will look after the repairs and maintenance at your property.
We have a team of licensed and insured tradesman on our books to attend to any maintenance needs.
It is important to note that should you wish to attend some of the maintenance yourself this too is also okay and we can help you organise access.
Should I rent my property furnished?
Renting your property furnished is fine however you need to consider that it can limit your market demand which in turn can lead to longer vacancies and normally attracts shorter term tenancies.
How often do you do property inspections?
Vault PM carry out 3 monthly inspections, if after two of those inspections the tenant is keeping the property immaculate, we then seek approval from our client to move the tenant to 6 monthly inspections.
This can be reverted to 3 monthly inspections if we are not happy with an inspection and will automatically revert back to 3 monthly on a change of tenancy.
How and when do I receive the rent?
Vault PM carry out payments to our clients on the 15th and 30th of each month.
These payments are carried out electronically into your nominated bank account.
We offer two payments a month to reduce your mortgage repayments and increase cash flow
Do I get rental statements?
We process payments to our clients at the middle and end of each month, once a payment is made into your nominated account you will receive a rental statement to your email.
This statement outlines income and expenditure and attaches any invoices that you have paid for in relation to maintenance, council and water rates etc.
Is landlord insurance necessary?
100% yes. Vault PM strongly advise that you arrange landlord insurance. Your investment needs to be protected from fire, flood, tenant or pet damage and rental arrears.
What happens if I want to sell my property?
We encourage you to call your property manager who will be able to advise and help you through this process. As in some states there is different legislation that a tenant may be able to break their lease and in turn this could leave you with a vacant property and no cash flow.