Can the tenant afford the rent? Your Lease Manager will request financial documents such as payslips, bank statements, tax returns and/or profit and loss statements from prospective tenants to mathematically calculate that they can reliably service the rent based on a rent to income ratio.
At Ray White Norwood we are proud and confident to note we have the most thorough screening process in property management. More importantly, our results speak for themselves. A rigorous and detailed set of checks is completed on all prospective tenants. Screening includes checks to see if the tenant has been blacklisted for defaulting on rent or for causing damage and inquiries are made regarding their employment and character.
Ray White Norwood’s system not only allows our owners to enjoy minimum vacancy rates for their investment but also makes it easier for our prospective tenants to find and apply for properties. As an insight into what this allows us to achieve, last month we leased 32 properties with more than 80% of listed properties leasing at or above their listed price!From more than 1300 enquiries, over 400 prospective tenants attended 95 inspections, resulting in 90 applications being received. This led to an average of only 7 days between a property becoming vacant and becoming off-market and under 10 days of total lost rent.
We also harness the latest technology to combat and counter any fraudulent and misleading applications. Using IP address detection on each application and their references.Property Management isn’t just about collecting rent and charging a fee. At Ray White Norwood, we stay up to date with legislation changes, attend elite national and international training and also undergo continuous coaching so that we can assist in gaining the highest rental return for you and your investment.