Important Information for commercial property owners (leasing)

We live in a fast moving world and we pride ourselves on being at the forefront of technology by offering our clients “live owner portals” giving our clients 24/7 access to unlimited information regarding their property. Having said that, our staff pride themselves in assisting with all queries in a timely manner and keeping our clients up to date with current market conditions. One of De Freitas & Ryan Commercial’s biggest strengths is that they relate to all types of owners. At De Freitas & Ryan no property is too big or small for our helpful and knowledgeable team.

OWNER FREQUENTLY ASKED QUESTIONS

When will my tenant receive keys to the property?

Your tenant will receive the keys to the property upon:

  • Payment in full of deposit monies
  • Execution of lease documents
  • Provision of Bank Guarantee (if applicable)
  • Provision of certificate of currency for public liability insurance

Who is responsible for opening utility accounts?

All telephone, power and gas connections are to be arranged by the ingoing tenant to the property unless otherwise agreed. Water use will be billed to the landlord automatically and forwarded onto the tenant unless otherwise agreed.

When will I receive my rent and statement?

We carry out the end of month payments on the 29th of each month and monies are transferred to your nominated bank account the same day and should be received by you the following day (allowances should be made for weekends and public holidays).

Who is responsible for maintenance?

Reference should always be made to the lease for repairs and maintenance as each lease is different, however, in the majority of cases, the tenant is responsible for all repairs and maintenance to the premises.

The owner is responsible for any capital improvements and replacements.

How do variable outgoings work?

There are two methods of paying the outgoings, your leasing agent will consult with you as to which method you would prefer for your property.

  • On demand – your tenant will be sent an invoice with supporting documentation as accounts are received.
  • Outgoings Budget – Upon commencement of their lease, all outgoings (council rates, water rates, strata levies etc.) are estimated for the year then divided by 12 which is their monthly outgoings payment amount. At the end of the financial year, a reconciliation is completed where all your payments are compared to the actual outgoings and a credit/debit is applied to your account accordingly.

What if my tenants are having difficulties paying their rent?

If your tenants are experiencing financial difficulty and are having problems making a rental payment, once they communicate this to your property manager, you will be informed immediately.

Your property manager will endeavour to assist your tenants by outlining all options available to them as instructed by you.

Can the landlord or Property Manager enter the premises?

In a case of emergency and if we are unable to get in contact with your tenant, the landlord or Property Manager may access the premises to attend to these issues.

In all other cases, your tenants are entitled to quiet enjoyment of the property. However, a landlord or Property Manager can access the property with prior notice as per your lease agreement.

My lease is about to expire and the tenants have a further option term, when must they exercise this by?

Each lease is different, so it is best to check but generally speaking, they must exercise their option no earlier than 6 months prior to the lease expiring and no later than 3 months prior to the lease expiring.

In many cases, the tenant will contact our office during this time to discuss lease/option renewal

However, in the event that the tenant has not contacted us, upon instructions from you, your Property Manager will write to your tenants to remind them that the lease is due to expire requesting they advise our office in writing of their intentions.

What are the tenants’ responsibilities upon vacating the property?

Unless otherwise agreed between the parties, the property must be returned to us in accordance with the terms of the Lease.

In most cases, the tenant is given a Property Condition Report at lease commencement. A detailed make good letter outlining roles and responsibilities will be sent to your tenant upon receiving their written notice to vacate the property.

USEFUL INFORMATION

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