Omni Property Queensland (07) 4225 5021

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FAQ's Investors

How do I change the management of my property if it is currently being managed by another agent?

All you have to do is fill out the Manage My Property form and we will take care of the rest. Omni Property will organise for the tenant to be notified and for the keys to be collected from your managing agent. Everything else carries on as usual. Changing your managing agent couldn’t be easier.

How should I know what my property will rent for?

We will give you a FREE RENTAL APPRAISAL and can organise a RENTAL APPRAISAL REPORT for you if you wish to closely compare it to other properties similar to yours that are currently being rented, or have just been rented, in the same area. Market forces will determine exactly what amount of rent you achieve. If you have a very popular property you will get more interest and subsequently a higher rent. If you have a property that is less rentable, you will find it hard to command a premium rent.

We do Annual Rental Appraisals regarding rental on longer term tenants and also at the beginning of each new lease.  This appraisal may be more frequent in fast growing markets. At Omni our property managers are trained to negotiate the best rent increase possible without costing you a good tenant.

If you’re curious about what your property should be renting for in today’s market, click here to request a free rental appraisal.

How long does it take to find a tenant?

This is a common concern for investors and there is no one single correct answer. At Omni Property we have low vacancy rates and generally we expect to have most properties rented by the time the last tenants have vacated. It can be subject to how well a property is presented, if the pricing is in accordance to market conditions. With our professional managers we ensure to rent your property as quickly as possible.

What happens if my tenant doesn’t pay rent?

We monitor rental arrears on a daily basis. After 4-7 days we contact tenants via telephone, email and SMS to follow up on payments. On the 8thday of arrears (which is the legal minimum) a Notice to Remedy Breach will be issued to the tenant giving them 7 clear days to correct the arrears. If rent is not paid within the time frame a Notice to Leave will be issued to the tenant giving them seven days to vacate the property.

We communicate with you throughout this process and a Notice to Leave will never be issued without discussing the situation with you first. It is always our intention to minimise any loss to the owner so these actions need to be carried out promptly, legally and efficiently so as if the situation continues, insurance and legal considerations can be actioned.

Where are you located?

Omni Property is located at 130 Spence Street in the city. With almost 99% of all our prospective tenants using either paper advertising or the internet to find homes online and a majority of our current tenants paying electronically, it’s clear that an agent’s location is mostly a concern of the past.

We can efficiently and easily rent out properties in a very large geographic area and quickly assess rents in any given area to determine what the right amount of rent is for a particular property. By having a single location we reduce the overheads and costs that accompany having an office in every suburb, and instead, focus on technology to give the best property management.

How can I sell my property?

If you are looking to sell your choice of agent is critical in ensuring you get the best price in the sale. Many of our owners live interstate or out of the area and don't have relationships with selling agents in the area that their property is located in. Fortunately we can help... One branch of the Omni Group of Companies is a Sales Agency (add link back)  We can easily coordinate access for prospective buyers to see your property during the sales period and can ensure it is presented in the best light to maximise your investment.

What is the Property Manager to property ratio?

At Omni Property we have a ratio of 1 Asset Manager to 80 properties.

The average industry ratio of 1 staff member to 140 properties is widely accepted and there are quite a few agencies that have in excess of 200 properties per staff member on their books, making it almost impossible for them to service your investment properly. 

We have strict policies on your property and security

At Omni Property our PAM’s we never hand out keys to tenants to view your property.  We ALWAYS show a prospective tenant through your property so they do not have unsupervised access to your property.  It is well known that security can be breached by unsupervised people who can make copies of the key. The thought that a stranger is wandering the streets with a key to your home is scary for both you and your next tenant.

There's also the risk of appliances being left on, or the house not being locked after the inspection, leaving you at risk of un-insurable theft. If someone steals from a property and you gave them the keys, it is not insured.

What checks are done on tenants to ensure they are reliable and suitable for your property?

Taking time to properly evaluate a tenant for your property is the most critical concern to the success of our relationships and the performance of your investment property.
Get payslips to ensure the tenant can afford the rent (ensuring the rent is not more than 30% of their income).

  • Get a reference from their previous rental manager
  • Get a reference from their employer
  • Collect 100 points of ID.
  • Conduct a 30 minute interview with them prior to signing the lease.
  • Check out tenancy information databases (a log of people who have been bad tenants right across Australia).

Does your real property manager know the best time to rent out your property in order to maximise your rental returns and find someone fast?

There are times of the year when levels of rental enquiry for properties is lower and times when they are higher.  Where possible we negotiate that the lease on your property to expire to coincide with these busy periods of the year to maximise the rental returns.

Do I need landlord’s insurance?

As with any insurance policy, it is not compulsory to have landlord insurance on your property. However, as property specialists, it’s our expert recommendation that every investment property owner has a specific landlord insurance policy in place for their property. Landlord Insurance protects you in the event of a tenant not paying rent, departing the property early or damaging the property. It also includes public liability and limited cover for contents (e.g. floor coverings, curtains).

While there are plenty of options out there, we suggest choosing very carefully. Many policies provided are worthless! Be sure to look at how well a policy can cover unpaid rent, liability claims, damage to contents and extreme weather, and most importantly have a look at the excess conditions. 

There are only a handful of specialist landlord insurance providers. The insurance needs to cover the normal landlord insurance as well as if tenants hurt themselves and sue you. If you'd like us to point you in the right direction, feel free to ask.