This is a question I get all the time from new landlords moving over to our agency.
So when your tenant pays their rent, we receive it and it is held in our trusted account. Now you have a couple of options with your rental payments, we can pay your rates, your water, your body corporates and your repairs. So if we are paying for all of those repairs and/or bills, we will take that out of your rental payment, we will also take out our fees, from the rental payment and we will transfer to you the remaining of that money.
When you receive that money, you will also receive a statement that outlines exactly how we got to that figure, and you’ll also get a copy of your rates, a copy of your water, a copy of the repairs and it outlines our fees as well . This is disburse to you either on the 15th of every month or the next business day, or the first business day of the month, so which ever comes first. So if the first is on a Saturday, you will receive that on a Monday. If you have any other questions regarding rental payments don’t hesitate to give us a call here at Leifield Real Estate.