IMPROVES the quality of your tenants & REDUCES the risk of rent default...
We first subscribed to Trading Reference Australia (TRA) in 2001 and have had resounding success in providing a professional ‘edge’ in referencing Tenants, ensuring your Tenants rental payments are paid on time and are kept up to date and motivating the tenants to better maintain the property.
Since the implementation:
- rent arrears and defaults have reduced by 87%
- we have rejected numerous new tenant applications based on their poor rating or their unwillingness to sign the authority form to allow us to perform a Tenant data base check
- the appearances at the Residential Tenancy Tribunal has reduced by more than 90% for rent defaults when compared to the same period prior to its implementation
- property damage by tenants has reduced and the general upkeep of the property by the tenant has improved
The majority of property management firms do not subscribe to a tenant data base either because its too expensive to administer, too time consuming or lack the foresight which is to the detriment of their landlords.
We incur significant costs and utilize extensive resources as a result of subscribing to and implementing the procedures to check tenant applications and keeping tenants paid up to date. When a tenant falls into arrears or damages the property we generate a warning letter from TRA which notifies the tenant that they may be listed on the data base if they do not remedy the breach.
As a consequence we need to charge a nominal annual fee. This represents a cost of less than 1 coffee per month to ensure your tenants pay their rent on time. Since its implementation over 20 years ago we have not increased the cost to you even though our costs have increased significantly over this time.
As you can see, the benefits far exceed the minimal outlay.