Frequently Asked Questions

Thank you for considering First Class Management to look after your investment property. Naturally you will want to know more about First Class Property Management. Following are some questions that are frequently asked by prospective and new clients. If you have any questions outside of these, please get in touch and we will endeavor to answer your query as quickly as possible.

  • Who does the actual marketing of my property?

    First Class Management will have sole responsibility for the marketing of your property.
  • Who pays for the marketing of my property?

    There is no cost to the owner for the marketing of the property. First Class Property Management will provide the signage, upload your property onto various internet services and utilize the Multiple Listing Service (MLS). Please note that if the MLS is used, you will be charged 35% of the first month’s rent. This acts as a tenant acquisition fee and covers the cost of paying the agent who has brought a tenant through the MLS (a fee-based service).
  • What does it cost to put my property up for rent?

    There is no upfront cost. Once a tenant is secured, we deduct a small percentage of the monthly rent to cover management costs.
  • How do I get my property ready for rent?

    All utilities must be operational, a health and safety check must be done and all issues addressed, and the property must be ready for the tenant to move in immediately. This may include repainting ceiling and walls, steam cleaning carpeted areas, thoroughly cleaning of the interior of the house, tidying the garden and tending to minor repairs.
  • How is the monthly rent determined?

    We will recommend an amount based on our knowledge and experience, however it is really the market that determines the monthly rent. We gauge whether we have set the rent at the appropriate amount by the interest and offers generated.
  • How are the tenants selected?

    We use a “Better Tenant System” that screens applicants by analyzing their credit, income, rental history and understanding their background.
  • Do you charge extra to process the tenant’s application and draw up the lease?

    No, this is all included in our service.
  • Who is responsible for repairs and maintenance during the tenancy?

    Depending on the nature of the damage, the owner typically pays for all maintenance and repairs (normal wear and tear). For any repairs under $250, we will action these immediately. Any repairs over $250 must be approved by you and we will obtain a minimum of two bids from reputable providers.
  • Can I claim management fees on my tax return?

    It’s always best to check with a tax professional, but generally the fees are tax deductible.