Investor Frequently Asked Questions

  • Do you charge additional fees above & beyond your management fee?

    We have two fees in our structure. There is a management fee and a letting fee. Nothing else. (No Monthly Account Fees, No VCAT Appearance Fees, No Statement Fees etc)

  • Do I have to wait until the end of the lease to switch management to Mayfair Property Management & Protection?

    No. The management of your investment property can be changed at any time with absolutely no effect on the tenant or the validity of the lease. If you would like to switch your property to Mayfair Property Management & Protection, all you need to do is give us a call and we will handle everything. There is no necessity for you to contact the previous managing agent at all.

  • Do you have a transparent fee structure?

    Our fee structure is simple and transparent. There is a management fee and a letting fee. That’s it. There will never be any nasty surprises lurking on your monthly or yearly statement.

  • When will I receive payment of rent?

    The rent will be dispersed to you as soon as practical after it has been payed. This is usually within 1 to 2 business days. After all, it’s your money!

  • Can you advise on Risk Protection?

    Mayfair Property Management & Protection are accredited financial planners and can advise you on all necessary risk protection strategies. Your investment property is a major asset and we feel that ensuring the protection of this asset is part of our responsibility as your property manager.

  • Will I be assigned a specific property manager?

    Yes. You will have one consistent contact who will be responsible for managing your property, communicating with you and ensuring your experience is exceptional.

  • How many other properties will my PM handle?

    The total number of properties your Property Manager handles will never exceed 120. That means that they have the necessary time to devote to each property. This allows them to be pro-active in managing all aspects of your property.

  • How do I transfer my property to Mayfair Property Management & Protection?

    All you have to do is to officially appoint Mayfair Property Management & Protection as your exclusive managing agent and we’ll handle everything from there. There is no need for you to contact the previous property manager or tenant.

  • When will you contact me?

    Our aim is to make the management of your investment property stress free. But stress free doesn’t mean “in the dark”. We will always keep you up to date with what is happening with your property via emailed monthly statements, copies of inspection reports and any information that is relevant to you. We would also look forward to catching up every now and then to make sure we are exceeding your expectations.

  • Will I need to attend VCAT hearings?

    No. We will act as your representative should the need arise. Of course you are welcome to attend if you wish. However, our system of nurturing our tenants tends to mean that issues can be sorted out before they get out of hand.

  • Can I log in to view the details of my property?

    Yes, we will assign you an exclusive password so you can log in and view all relevant details associated with your property.

  • Do you give out keys to prospective tenants?

    No. A representative of Mayfair Property Management & Protection will always accompany a prospective tenant to view your property. This ensures that there is no misuse of your property, all the features of your property can be highlighted and a personal evaluation of the prospective tenant can be achieved.

  • How long do you take to process a rental application?

    We want to get the best possible tenant for your property so it is important to process the tenancy application urgently. We do this within 24 hours.

  • How many OFI’s will you do per week?

    We will conduct two open for inspections per week and one of these will be on the weekend so busy professionals will have an opportunity to view your property. In addition we will conduct private viewings as required and where legally permitted.

  • What if a prospective tenant can’t attend the OFI’s?

    Busy professionals and families sometimes have difficulty attending scheduled opens (even though one of these will be on the weekend). That’s why we will conduct private viewings when this is necessary. After all, the aim is to secure the best possible tenant for your property.

  • How long will you open my property for?

    We always keep your property open for 30 minutes. It is common practice to only open for 15 minutes but we feel that this is too restrictive and can potentially eliminate some good quality tenants.

  • How do you screen prospective tenants?

    Not only do we insist that prospective tenants supply independent referees but we contact all of them. This includes speaking to employers, accountants, previous landlords or property managers as well as any personal referees. A minimum of 100 points of identification are required and we will need to sight at least two previous pay slips or, for the self employed, bank statements. Finally, the shortlisted tenant will be checked against the National Tenancy Database which records the history of tenants who have breached their lease agreements or had a detrimental VCAT outcome.

  • Who decides which applicant will become the tenant?

    You will always have the final say. We will present the applicants we feel are suitable and provide our advice but, in the end, you make the final decision.