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Residential Rental Providers FAQ

For Residential Rental Providers

Next Level Asset Management was established in 2009 under the original name of Next Level Property. Our Director, Andrew Oscari, has over 29 years’ experience in the real estate industry and is actually a property investor himself! He draws on first-hand knowledge and involvement in the industry to support residential rental providers through the process of managing a rental property or selling an asset. Andrew leads a team of dedicated property managers with impressive backgrounds in real estate. When it comes to leasing your investment, the Next Level team take a tactical approach, utilising their understanding of the property market and applying their skills and passion to ensure the best outcome. Rest assured, with Next Level, your asset is in good hands.

Our team of real estate experts look after your investment as if it were their own and make decisions on your behalf with care and consideration. We manage the day-to-day running of your property and keep you in the loop with regular contact and reporting through your Owner Portal. Find out more about how we work

We’re thrilled to have the opportunity to work with you! Getting the process going is simple; start by filling in this form and a member of our team will be in touch to discuss next steps.

Next Level develop a bespoke marketing campaign that gets your property under the nose of potential renters. We’ll organise professional photography, a 360-degree virtual tour and create a highly impactful real estate advertisement. Your property will then be promoted as a premiere listing on all leading platforms, including the Next Level website. As a premium online ad, your property will be seen by more people and capture 4.5 times the number of enquiries than a standard advert. This activity will also be supported by social media activity across Facebook, LinkedIn and Instagram.

We aim to achieve a maximum rental return on your investment property. We’re constantly watching the market and are across any changes and trends that develop. When setting a rental rate, we take a range of factors into consideration, including current market demand, comparable properties and realistic rental returns. The rental rates are balanced against the importance of getting your property leased as quickly as possible, and for as long as possible. We’ll conduct a rental rate review three months prior to lease renewal and if necessary, adjust in accordance with market conditions.

Next Level regularly trains our staff on legislation changes and use our industry knowledge to gain the highest rental return for you and your investment. Our specialised leasing team are constantly monitoring the rental market and are experts at finding a fair rental price for both the rental provider and the renter.

Next Level run multiple rent disbursements per week. Rent is transferred electronically to the residential rental providers nominated bank account within days of us receiving it from the renter.

It’s a scary statistic that each week a property is vacant, the residential rental provider loses approximately 2% of annual rental income. To avoid this, we implement a stringent renter database system to keep tabs on potential renters and ensure your property is leased quickly and for longer. We work closely with our residential rental providers, offering expert advice on current market conditions to ensure you attain a maximum return and lower vacancy. With this proven approach, Next Level proudly maintain an average tenancy rate of 98.5%.

Rent will be reviewed against market conditions every 12 months. This is done three months prior to your renters lease end date to ensure it falls in line with the new agreement. During the review process, we conduct extensive research into the local market conditions, taking into account properties on the market for lease or recently leased homes in the same area. We will always strive to obtain the maximum rental return on your investment, whilst keeping the property occupied.

Our dedicated team follow a meticulous process of suitability and reference checks to find the perfect renter for your property. Rest assured, the residential rental provider will always have the final say on renter candidates.

We keep in contact with our residential rental providers on a regular basis, using a variety of platforms. We’ll call or email often to discuss your investment property: notify you of any requests from the renters, discuss agreement terms, rental increases and routine inspections. All statements, invoices and disbursements are available to access at any time through the online Owner Portal. Please contact us for more information or to see our video tutorial on Residential Rental Provider Access.

This is an online hub for residential renter providers. It provides full visibility of all the incomings and outgoings. Here you’ll be able to view statements and financial reporting, see ongoing maintenance requests, inspection reports and more. To log on, click on  ‘Login’ at the top right-hand corner of the Next Level website: Please contact us for more information or to see our video tutorial on Residential Rental Provider Access.

We strongly recommend all owners take out comprehensive residential rental provider  protection insurance previously (Landlord Protection Insurance).  This specific insurance takes into account risks unique to rental properties which are not normally included in home and contents insurance or strata title policy. Whilst we do encourage you to have the right protection, it is important to research all insurance options and seek professional advice to ensure you obtain the best cover for your investment property.

The residential rental provider has a number of obligations they must meet at the beginning of and during the tenancy. These include providing the premises in a clean condition and maintaining it in good repair, allowing the renter to have peace and quiet and enjoyment of the premises and ensuring the property is safe and secure.

Under legislation, it is the residential rental providers responsibility to repair the property at their own expense, including general wear and tear. The only time a renter can be held responsible for repairs is if wear and tear is considered excessive.

A tenant must provide a minimum of 28 days’ notice of their intention to vacate your property. However, if they are on a fixed term agreement, they are required to see out the term of their agreement and cannot terminate the agreement prior to this date without reimbursing the residential rental provider for costs they incur. The renter will receive detailed information of what steps are required before vacating, along with our expectations of how the property is to be left. Once fully vacated and the renter has handed back the keys, we’ll complete a final inspection. The property will be compared to the ingoing condition report to ensure it’s been left in the same state, taking reasonable wear and tear into account.

We have a zero-tolerance rent arrears policy. Renters acknowledge this when they sign their agreement. The first day a renter falls behind on a rental payment, an auto generated email will be sent. Next Level will continue to contact the renter to retrieve the rental payment, if the situation has not been rectified after 14 days, on day 15 the renter is served a notice to vacate. This strict approach has served us well as it ensures that on average, 98.9% of renters pay their rent on time. In a situation where your renters rent payment is late, you will be notified immediately, and we will continue to provide regular updates until the rent has been received.

Should a renter break their agreed agreement and move out of the property earlier than expected, they may be charged for the costs of advertising and re-letting of the property on a pro rata basis. This reimbursement will be assessed on a case by case basis, depending on how much of the lease remains when it is broken.

Residential rental providers are able to sell their property at any time, however, any fixed term lease in place is guaranteed to your renter. Residential rental providers must give the renter a “notice of intention to sell” 14 days before the entry is proposed, the renter is entitled to compensation for each sales inspection.

It is up to the residential rental provider to decide if the renters agreement will be offered for renewal or should come to a natural end. Next Level will contact the residential rental provider before the agreement is due to end and seek instructions.

Of course! Selling properties is part of the service we provide. Selling the property is much easier when coordinated through us as we already have access to the property and contact with the renter and can easily organise inspections between our sales and rental departments. Get in touch  for more info on our property sales service.

Our office hours are 9am – 6pm every day, however, owners can submit a query through the Owner Portal at any time. You can count on us to respond promptly to all requests.

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