Freq. Asked Questions

Q1: What Tenancy Documentation is required?

All tenancies are subject to the Residential Tenancies Act. The tenancy documentation includes:

  1. A statutory Tenancy Agreement
  2. A statutory Premises Condition Report
  3. A Rental Bond Lodgement Form.
  4. A New Tenant Checklist from the NSW Office of Fair Trading.

Q2: How do I change the management of my property if it is currently being managed by another Agent ?

Moving property managers is dead easy. It’s a 2-step process.

Step 1: Notice is normally 30 days.

Check current managing agent agreement to find out how much notice you need to give your current agent

Notice is normally defined in clause 2, located on the front page of the standard REINSW agreement.

Step 2: Leave the rest to Silver Bullet Realty.

The present landlord does not need to call their agent. Nor do they need to communicate with them in any way.

We then take on full responsibility for liaising with outgoing agent – there is no cost for this.

We arrange to have the landlord sign the termination letter (a standard template).

We then forward this to the outgoing agent. We make a time with them to collect the landlord’s file, keys and lease documents.

We provide the landlord with the Silver Bullet Management Agency Agreement.

The landlord then gets a very efficient, professional, trouble free management service from Silver Bullet Realty.
Furthermore, when the tenants are already in place, there would be no letting/leasing fee.

To find out more about switching to us, click here.

That’s it – it’s that easy.

Q3: What Happens if my tenant doesn’t pay rent?

We do a reconciliation of rent paid every day. Our specialist property management software is able to identify and alert us to any rent that is even one day late. We believe this specialist software to be the best of its breed.

If rent is not paid on time as set out in the Tenancy Agreement it triggers an alert and allows us to step in immediately to provide an effective swift solution. The procedure for follow up and the chain of events, checks and procedures to ensure the tenant is able to fulfil obligations is as follows:

3 days overdue: tenant contacted by telephone, SMS and followed up by email.

Day 5 : Arrears Breach Notice 1

Day 10 : Arrears Breach Notice 2

Day 15: If no rent or payment plan agreed – Termination Notice issued.

We can quickly & easily identify if there is a rent payment issue immediately. Taking steps to rectify this early is the key. Our procedures and policy dictate that early intervention is mandatory.

Q4: How long does it take to find the right Tenant to rent my property?

This is mostly a function of being organised and being prepared. We ensure the property is presented & staged swiftly and have professional photographs taken, floor plans prepared and advertise the property including placing the property on and, as soon as possible. The tenancy application again is as swift as we can possibly make it, we aim to turn around applications within 1 working day, this enables us to manage timeframes, keep vacancy rates to an absolute minimum whilst still following a robust tenant vetting process.

We are organised, efficient, able to move swiftly and focused on finding the right tenants.

Q5: What happens when the Tenancy Agreement Expires?

Once the Tenancy expires, if no other arrangements have been put in place, the Agreement is held over on a continuation basis. The Tenant is then required by law to give 21 days notice to Terminate the Agreement. The Owner is required to give 90 days notice.
It is not a legal requirement to renew the documentation including the Tenancy Agreement when the Fixed Term period ends in NSW. Many Owners and Tenants choose not to enter into a renewal Agreement. Any New agreement must be agreed between both the Tenant and the Owner.

Q6: How can I terminate the Tenancy?

There are 3 ways that a tenancy may be terminated :

  1. At the End of a Fixed Term: Either the Landlord or the Tenant may give at least 30 days notice to end a tenancy prior to when the fixed term is due to expire.
  2. After the Fixed Term has expired: This is the case in a Continuing Tenancy. The Tenant is required to give at least 21 days notice to end the tenancy any time after the fixed term has ended. The landlord is required to give 90 days notice to terminate.
  3. Ending the tenancy due to a Breach: A 14 day Termination Notice may be issued by either the Landlord or the Tenant if either party breaches a term of the Agreement, or if the tenant is more than 14 days in arrears of rent.

Q7: May I inspect the property whenever I like?

Once a property has been tenanted the Landlord or Agent may inspect the property up to 4 times in any 12 month period. We are more than happy to take Landlords through the property for inspections. The tenants are given a minimum of 7 days notice. Also, our landlords are able to see all their condition and inspection reports via their personal online portal through this website also see owners online portal, 24 hours a day , 7 days a week.  Checkout Online Portal Now!

Q8: When does the rent get paid into my account?

At the end of each month all monies held, unless the landlord requests funds held back for a particular purpose, is directly credited to the landlords bank account stipulated by landlord. A statement is also issued at month end stating the income and outgoings for the month. Statements are also available through owners online portal.