How is my property valued for rent?

The most important indication of the achievable price is the rental market itself. A correctly priced property minimises vacancy times. When we assess the rental value of your home we support our findings with comparable rentals of properties in the immediate area that have recently leased. We may need to give extra consideration to the special characteristics of your property however sometimes it is difficult to exactly quantify the value of a river or sea view for example. This is often weighted differently in the minds of different prospective tenants and will take some discussion to set the most appropriate rental level. McInnes is happy to carry out an obligation free appraisal of your property and provide suggestions on maximising the value and appeal of your property.

What is the average time it takes to find a tenant for a property?

This often depends on the current seasonal supply and demand situation! However in Melbourne, we have experienced record low vacancy rates in the past few years. Generally the better presented your property and the more realistic the rental amount you are asking then the quicker your property will lease. If your property has some unique features or is in a higher rental range then often the time taken will be greater to source the most appropriate tenant for your property. Selecting the most qualified and suitable tenant available for your property sometimes takes a little longer than just accepting the first tenant that comes through the door. In the current market most properties re-let by the McInnes team are relet within the 28 days notice period given by the outgoing tenants. We are aware of the impact vacant properties have on maximising your investment returns so do our uttermost to ensure the 28 days notice period is used proactively to secure the best tenant.

Is an agent’s location important in relation to their ability to manage my property?

Most rental inquiry now comes from the internet so we can quickly and easily rent out properties in a greater geographic area. However there is no doubt that being specialists in certain property types (corporate leasing for example) will bring better qualified tenants to your door regardless of the properties particular geographic location. So if your property has some unique features or is better situated to the corporate market then it is important to place your property with an agent that has excellent market knowledge of these sorts of specialist properties thus maximising your investment.

What is the average length of tenancy?

Most initial tenancies are for fixed periods of 12 months and can be renegotiated just prior to the expiry of the lease according to the owner’s instructions. However at higher rental levels periods of 2-3 years are often negotiated with regular rent increases throughout the term. Six months leases are less common but can certainly be negotiated if this is your preferred term.

What if I need to sell my property?

McInnes can certainly advise you on this process and this will depend on any term currently left on your lease. Although McInnes specialises exclusively in the leasing and management of properties we do have a good referral network and we can easily put you in touch with the best agent/agents to sell your home. Our aim is to get the very best return for your investment so that extends to helping you achieve the best price possible if you decide to sell.

When do I receive my rental?

All McInnes properties have a rental due date of the 1st of each month. After the tenants rental has cleared and any approved invoices have been deducted, McInnes accounts out to all owners on the 10th of each month. Funds are banked electronically and statements are emailed.

Do I need landlord insurance?

It is a requirement that all our owners ensure that they have adequate building and contents insurance cover. However landlord insurance is additional cover that can be taken out and whilst it’s not compulsory it is highly recommended. Landlord insurance protects you in the event that the tenant does not pay the rent, they decide to leave early or damage the property. The policy should include public liability and cover for contents such as carpets and curtains.

Why should I choose McInnes Property Management to manage my property?

McInnes is a boutique agency who has for the last 15 years specialised exclusively in Property Management. Regina McInnes is a hands on Director who is highly respected in the industry. She has built the business through positive word of mouth and personal referrals. Regina prides herself on the ability to offer her clients exceptional personal service and expertise and a stable accountable team of highly trained property managers. Regina is considered to be an expert in corporate leasing and is often the first point of contact for relocation agencies that are relocating executives into Melbourne.

How do I transfer my property to McInnes Property Management?

If you have a property managed by another agent it is as simple as giving us a call and we will arrange for the smooth transition between agents. We will arrange to collect the file, keys and relevant documentation. We will notify your tenant and arrange a mutually convenient time to carry out an inspection and ensure there are no outstanding matters as well as familiarise ourselves with the property.

How often does McInnes inspect my Property?

The Residential Tenancies Act permits us to inspect the property twice per year. At McInnes we believe a thorough routine inspection is one of the most important aspects of managing your property. For this reason we inspect all properties with new tenants after the first 3 months and then the second inspection is conducted in a further 6 months after (so 9 months into a new tenancy).