Frequently Asked Questions Owners

The listing agreement, known as Form 6, is the legal document required to be completed by the agency, and the legal owners for management of the property. The listing agreement outlines terms such as the management fees, letting fees, advertising fees, payment methods, and authority limits. 

Helpful resources: https://www.reiq.com/articles/property-management/part-1-an-examination-of-the-po-form-6-appointment-for-property-managers

There is the option to be paid monthly or twice monthly payment options. Monthly is on the first business day after the end of the month. Twice monthly payments are on the 15th or first business day thereafter. We suggest adjusting your payments to allow for 3 business days after these dates to allow sufficient bank processing time. 

Example: If you select twice monthly and the 15th falls on a Saturday or Sunday you will be paid on Monday.

In the listing agreement we obtain your nominated bank details, and the funds are transferred to your nominated bank account from our trust through normal EFT banking.

Whilst your lease agreement will have a weekly rent amount nominated your tenants are permitted to pay rent in any method or frequency they prefer, provided they are not falling into rent arrears. For example, they may choose to pay fortnightly, monthly or spilt the payments between occupants. We will, however, ensure that the rent is paid on time.

This is called arrears. We send tenants reminders when they are falling into arrears. Then issue a breach notice in accordance with the RTA guidelines. 

Helpful resource: https://www.rta.qld.gov.au/during-a-tenancy/rent-and-other-bills/non-payment-of-rent

The management fee is deducted when rent money is received from tenants. This will be outlined on your statement. 

 Yes, in fact we encourage that all bills are sent to us for payment, simply sent to rentals@purplecowrealestate.com.au Water bills, rates, insurance. 

 The RTA must hold the bond for a tenancy agreement. Purple Cow will ensure that the bond has been paid to the RTA. 

Our team of experts will conduct a market appraisal of your property to provide you with guidance with our rent recommendation. Ultimately, the amount will be your decision. 

Rent can be increased within RTA guidelines, currently we can only increase the rent once per year per property. It is for this reason that we recommend a 12-month lease agreement term.

Helpful resource: https://www.rta.qld.gov.au/rent

Our team will identify the lease renewal date and commence the lease renewal communication with you. This will include an updated rental recommendation.  Your lease renewal date is also visible in the Owner portal. 

Helpful resource: https://www.propertyme.com.au/features/owner-access

Recently there have been several changes in relation to the break lease laws, particularly in relation to Domestic Violence situations. Upon receiving notification from your tenants, our team will call you to discuss and provide expert advice in relation to the circumstances. 

Helpful resource: https://www.rta.qld.gov.au/breaklease https://www.rta.qld.gov.au/domestic-violence-in-a-rental-property

Yes, each time rent is disbursed to you, you will receive a payment. If there are no funds to disburse to you, you will not receive a statement. You can access your transaction summary through the Owner portal at any time. 

Helpful resource: https://www.propertyme.com.au/features/owner-access

Yes, we will email you an end of year summary. 

Helpful resource: https://www.propertyme.com.au/features/owner-access

Yes, we will hold a set of keys in the office referred to as the management set. We also need to provide each adult tenant with a set of keys to the property. We can arrange for additional keys to be cut if needed.

Yes, however, you are not permitted to enter the property, including the grounds, without first ensuring an entry notice has been issued to the tenants within the required timeframes, when a lease is in effect. 

Helpful resource: https://www.rta.qld.gov.au/during-a-tenancy/living-in-the-property/entry-to-the-property

Yes, there are several key compliance requirements when renting out a property, including: 

• Water compliance https://www.rta.qld.gov.au/during-a-tenancy/rent-and-other-bills/water-charging 
• Smoke Alarm Compliance –https://www.rta.qld.gov.au/during-a-tenancy/maintenance-and-repairs/smoke-alarms 
• Gas Compliance – if applicable 
• Pool Compliance – if applicable https://www.rta.qld.gov.au/during-a-tenancy/maintenance-and-repairs/pool-laws-and-maintenance 
• Minimal Housing Standards https://www.rta.qld.gov.au/during-a-tenancy/maintenance-and-repairs/minimum-housing-standards 

Please provide us with copies of the smoke alarm compliance and water compliance. If your property has not yet been certified we have included in your agreement authority for us to arrange these for you.

Smoke Alarm compliance is a mandatory ongoing compliance requirement. Compliance checks must be completed annually or whenever a new tenant moves in, whichever is soonest. Purple Cow Real Estate have a partner provider to ensure your property remains compliant, for a small annual fee of $129.00, which includes 24/7 phone support and callout for faults included https://www.smokealarmservice.com/  

Helpful resource: https://www.rta.qld.gov.au/during-a-tenancy/maintenance-and-repairs/smoke-alarms

Yes, Building, Public Liability and Landlord Protection insurance. We request that you provide us with your landlord insurance information and nominate Purple Cow Real Estate as an authorised representative. We can also arrange to pay the premium from your rental funds. 

Whilst we cannot recommend insurance providers, below are some options for you to consider: 

• https://www.terrischeer.com.au/landlord-insurance
• https://www.aami.com.au/home-insurance/landlord-insurance.
• https://www.allianz.com.au/home-insurance/landlord   

In addition to the compliance requirements outlined above, we encourage you to ensure that the property is ready in a clean state including a full bond cleaning, carpeting cleaning and yard maintenance. It is important to note that the condition in which the tenants receive the property is the condition in which they must return it. It is also our professional opinion that a well-presented property will attract more interest and in turn better quality applications and tenants. We have our trusted recommended trades that can assist you, simply ask our team and we can help with arrangements.

If you are vacating the property, please allow sufficient time for our team to complete all required inspections before new tenants move in. We recommend allowing at least 3 days to ensure everything can be carried out thoroughly.

If the property is water compliant you can charge the water usage component only of the water bill to your tenants. We must receive the water bill within 30 days of the date of issue. Your tenants then have 30 days to pay their component of the bill, as per their usage. 

Helpful resource: https://www.rta.qld.gov.au/during-a-tenancy/rent-and-other-bills/water-charging

At Purple Cow Real Estate, we pride ourselves on our proven marketing strategies. Our team of experts will manage the marketing, including listing on realestate.com.au and arranging photos.

At Purple Cow Real Estate, we pride ourselves on our proven marketing strategies, this does include the use of professional photography to ensure that your property listing is to the highest possible standard, to attract high quality tenants.

At Purple Cow Real Estate, we pride ourselves on our proven marketing strategies. Verified by realestate.com we rent properties faster than any local competitor.

We can start advertising your property as soon as marketing photos can be arranged. If you have just purchased a property, it is important to note that we cannot list a property until you are the owner of the property, without the consent of the current owner.

Our remarkable leasing team schedules and conducts open homes, at a minimum of twice weekly at peak times including Saturdays. After each inspection our team will send you a summary.

Our remarkable leasing team will assess all applications received on the property. Our team will assess the application based on affordability, references and TICA checks https://www.tica.com.au/about-us.php to ensure the tenants are suitable for your property. 

Helpful resource: https://www.rta.qld.gov.au/forms-resources/rental-law-changes/application-process

It is our role as your agency to collect the required information to assess suitability for your property, in accordance with the RTA guidelines. Under privacy legislation we are unable to provide you with your tenant’s full details and contact details. The application summary will contain the information that we are legally able to provide. 

Helpful resource: https://www.rta.qld.gov.au/forms-resources/forms/rental-application-form-22

Once our team have completed all relevant checks and are satisfied that the application is suitable, you will be sent a brief application summary to review. Ultimately, your preferred application is your decision. We do recommend approving your preferred application as quickly as possible. It is likely that applicants are inspecting and have applications on multiple properties, we wouldn’t want you to miss out on your preferred application.

Entry and Exit Reports are imperative to ensure tenants return the property in the same condition in which it was provided. Our team spends hours thoroughly inspecting and documenting the property to deliver the highest standard of reporting for both you and your tenants. We also utilise the latest technology, including 360° cameras, to provide a more comprehensive and accurate record of the property’s condition.

Before your tenants move in the property an entry condition report is completed to document the condition of the property. Our team will conduct an entry condition report. The tenants have 3 days to review the report and provide any additional comments. Our team will provide you with an update regarding the condition of the property. 

Helpful resource: https://www.rta.qld.gov.au/starting-a-tenancy/entry-condition-report

Before your tenants move into the property an entry condition report is completed to document the condition of the property. When tenants are vacating, they are expected to return the property in the same condition, taking into consideration fair wear and tear. Our team will conduct an exit condition report and provide you with an update regarding the condition of the property. It is important to note that no one is permitted to enter the property until the exit condition report is finalised by our team. If required, the team will attend to seek rectification from the tenants and a bond claim if necessary. 

Helpful resource: https://www.rta.qld.gov.au/ending-a-tenancy/vacating-a-property/exit-condition-report

As your managing agency it is our responsibility to conduct the exit inspection. Once we have completed the exit inspection and provided the report to the tenants for review, we can arrange with you to attend the property.

Our team are here to help coordinate maintenance activities. We understand that preventative maintenance are key to ensuring your property is maintained to the highest standard, and responsive maintenance is necessary to ensure unnecessary deterioration or impact is avoided. Our team will keep you informed of all reported maintenance and seek your instructions. All the information on inspections is maintenance is available to you in the Owner Portal.

We suggest having a preauthorised maintenance limit, equivalent to one weeks rent, to ensure that repairs can be actioned quickly and efficiently. This helps ensure that the matter is rectified in a timely manner to avoid the concern exacerbating and causing additional dames or work required.

No, for general maintenance items they are not permitted to arrange their own repairs. However, in the event of an emergency tenants are permitted under the RTA guidelines to arrange repairs. 

Helpful resource: https://www.rta.qld.gov.au/during-a-tenancy/maintenance-and-repairs/emergency-repairs 

This depends on the type of maintenance items. Our team will provide expertise and guidance on these matters. 

If the item is related to minimal housing standards, then repairs must be completed in a reasonable timeframe. 

Helpful resource: https://www.rta.qld.gov.au/during-a-tenancy/maintenance-and-repairs/minimum-housing-standards

Generally, maintaining the property is the owner responsibility This depends on the type of maintenance items. Our team will provide expertise and guidance on these matters.

Helpful resource: https://www.rta.qld.gov.au/repairs

 In addition to the smoke alarm compliance, which is legislative requirement, we also recommend the following preventative maintenance, all of which we can arrange on your behalf: 

• Annual air conditioning servicing 
• Annual termite inspection to maintain your warranty if applicable 
• Annual roof inspection and gutter cleaning

We understand that routine inspections are a vital part of the property management service in ensuring that your home is well maintained. We take pride in providing you with thorough and timely inspection reports. Routine

inspections are conducted every 13 weeks. You will receive a copy of the routine inspection shortly after it is completed. It is also available in your Owner Portal in Property Me. 

 Helpful resource: https://www.propertyme.com.au/features/owner-access 

Helpful resource: https://www.rta.qld.gov.au/during-a-tenancy/living-in-the-property/routine-inspections

Yes, you will receive an email when the routine inspection has been scheduled, simply reply to that email that you would like to attend the inspection, so we can make the tenants aware.

We try to avoid rescheduling inspection, however in the event of tenants or team illness this may be unavoidable. You will receive an email when the routine inspection has been re-scheduled.

The team will call you to discuss the concerns and next steps

Tenants must seek written approval from the property manager/owner to keep a pet at the rental property. Upon receiving a request, we will call you to discuss and provide expert advice in relation to the circumstances. 

If the property manager/owner does not respond within 14 days the pet request will be automatically approved.  

Helpful resource: https://www.rta.qld.gov.au/during-a-tenancy/living-in-the-property/renting-with-pets

Tenants must seek written approval from the property manager/owner. Upon receiving a request, we will call you to discuss and provide expert advice in relation to the circumstances 

Helpful resource: https://www.rta.qld.gov.au/during-a-tenancy/living-in-the-property/fixtures-and-structural-changes

At Purple Cow Real Estate, we have a dedicated team for selling our investment homes, our Investment Sales Specialist guided by our Managing Director Andy will ensure that the sale of your property is smooth and successfully ensures remarkable care for your tenants with our Tenant Care Program.

At Purple Cow Real Estate, we have a dedicated team for selling our investment homes, our Investment Sales Specialist guided by our Managing Director Andy will ensure that the sale of your property is smooth and successfully ensures remarkable care for your tenants with our Tenant Care Program.

Whilst we are not qualified to provide taxation advice, if you haven’t already done so, we recommend arranging for a tax depreciation schedule to be completed, as it is generally considered highly beneficial. 

Tuan Duong Principal Duo Tax
Tax Depreciation – Property Valuation – Quantity Surveying – Property Insurance
1300 185 498 (tel:1300185498)
0431 154 356 (tel:0431154356)
tduong@duotax.com.au

You will receive an end-of-financial-year summary outlining all income and expenditure for your property. To help save you time and make the process easier, you may find it beneficial to have all property-related expenses paid directly through your rental portfolio funds. For prompt payment, please ensure these are sent to rentals@puplecowrealestate.com.au. We will request an authority to act so that we can assist you to manage these accounts. 

Please ensure that water bills are sent to us immediately to allow us to on charge water usage to your tenants.

For any specific tax-related questions, please seek independent professional advice. We are, however, happy to provide the necessary documentation to assist your accountant.

We recommend keeping the power connected during photography and open homes, as this ensures the property presents at its absolute best. Once a tenant has been secured, you are welcome to arrange disconnection.
To make the process seamless, we partner with MyConnect, who will assist tenants with all reconnections required. As per the lease agreement, utilities are the tenants’ responsibility.
Please also note that the property is required to have an active internet/NBN connection provided.