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Tenant FAQ'S

tenants2.jpgtenants3.jpgQ: How Do I Apply For A Residential Property?

There are 2 steps.

1.    Complete our Tenancy Application Form, making sure you have:

  • Completed the form thoroughly
  • Prepared 100 points of identification to share with us
  • Pressed the “Submit” link online

2.     Pay Niche Portfolio a reservation fee (see below) of one week’s rent. We’ll check your references and discuss your application with the landlord. If you fit the property’s leasing criteria, and your landlord is happy to proceed, Niche Portfolio will call you and send you written confirmation, outlining the terms and conditions of your Residential Tenancy Agreement.

 

Q: What Happens After I’m Approved?

When your Tenancy Application has been approved, we ask you to:

  • Sign a Residential Tenancy Agreement , which contains the terms of the lease
  • Receive a Condition Report from us (see details below)
  • Receive a Renting Guide Fact Sheet from us
  • Pay the required bond and one calendar month’s rent in advance (less your reservation fee)
  • Wait for a confirmation letter to arrive to you by email, although this letter isn’t binding and we note   that only the signed Residential Tenancy Agreement is binding
  • Pay an agreement cost of $15 (see below)

Q: Why Do I Pay A Reservation Fee?

When you apply for residential tenancy, we ask you to pay a reservation fee of one week’s rent in cash or by transfer into our bank account. This is a deposit or holding fee for the property. While this money does not guarantee that you have secured the property, it does ensure that the property is taken off the market until the landlord makes a decision about your application.

If your application is successful, the reservation fee you have already paid will be considered part of the one month’s rent payable in advance when you sign the lease.

If your application is unsuccessful, the reservation fee will be returned to you in full.

If you decide to withdraw your application for the property, the landlord has the right to retain the reservation fee for the days that the property was reserved, which factors in the economic costs of taking the property off the Sydney property market for some time.


Q: When Do I Pay My Rent?

Before you can move into your new residential property or commercial property, we ask you to:

  • Pay one calendar month’s rent in advance, minus your reservation fee, which we have mentioned  in our confirmation letter
  • Make your payment by online direct debit
  • Nominate your payee as “Niche Portfolio Pty Ltd”.

From then on, rent is due every calendar month in advance, by online direct debit.

Q: What Is A Bond?

Residential tenants need to pay a Bond to the Rental Bond Board, which is part of NSW Fair Trading. Your bond is held as security in case you don’t follow the terms of the Residential Tenancy Agreement. It isn’t paid to the landlord or to the residential property manager, Niche Portfolio. You’ll receive notification from the Rental Bond Board that your money has been deposited with them.

For an unfurnished property, theb is 4 week’s rent. If the property is fully furnished, the minimum bond is 6 weeks rent.

See NSW Fair Trading  for more details on bonds and how they work.



Q: What Is An Agreement Cost And Why Do I Need To Pay It?

Landlords may ask up to $15 for agreement costs relating to a residential lease. This is the cost charged by the Real Estate Institute for your copy of the Residential Tenancy Agreement.


Q: What Is A Condition Report?

When you sign a Residential Tenancy Agreement, you will receive two copies of the condition report.

Your Niche Portfolio residential property manager will have already filled in the first part of the report, explaining the condition of the property before you moved in. It includes details of cleanliness, any marks on walls or joinery, the working order of each item and the general condition of the property.

The report for a furnished property will also include an itemised list of all the furniture inside the property and the condition of the furniture. Anything that can’t be listed on the report is written on a separate, signed piece of paper. Photos might also be attached.

After you’ve signed the lease and you have the keys, you should go through the property and fill out the second part of the condition report. List anything you don’t agree with, or which wasn’t included in the first part  of the report.

What happens next? We ask you to sign the report, keep one copy for your records and return another copy to  Niche Portfolio within 7 days of the start of your lease.

At the end of your lease, we’ll use this report as a guide for our final inspection before you vacate the property. But if your report isn’t returned within 7 days of the start of your lease, we can only use the original copy as a reference point.


Q: How Do I Apply For A Commercial Property?

We invite you to apply by contacting our Niche Portfolio commercial property managers:

  • Phone on 02 9362 0740
  • Fill out an application form click here

Q: What Can I Expect From Niche Portfolio?

We make sure that each and every query on the phone or online gets personal attention, even if the property you’re asking about has been leased or taken off the market. And we allow each and every interested party to see the property that interests you, even if it means showing the property out of office hours.

Our residential and commercial property managers at Niche Portfolio understand the importance of a harmonious and mutually beneficial relationship between tenants (you), landlords (the property owner) and agents (us). We focus on making sure any repairs, maintenance or refurbishments are done efficiently and on time for you.

Our residential and commercial property managers monitor your rental payments everyday. It’s important that you stay up to date with your rent. Rent is payable on the 15th of every calendar month.