Frequently Asked Questions

What is the Residential Tenancies Act?

The Residential Tenancies Act 1987 is an act of the Western Australian Parliament to regulate the relationship of owners and tenants under residential tenancy agreement.

What happens if my tenant pays rent late?

It is our office policy to check rental arrears on a daily basis. In accordance with the Residential Tenancies Act 1987, all tenants over 3 days in arrears, are issued with a Notice of Termination for non payment of rent. This notice allows 7 days for payment and you will be notified in writing that this has occurred. Should the tenant fail to rectify the outstanding money, court proceedings will commence with your approval.

Once my tenant has paid, how quickly can I receive the funds?

Unlike most other agencies, O’Neil Real Estate pays owner funds twice a month via electronic transfer. Payments are made on approx the 15th and end of each month.

How long will it take to find a tenant for my property?

We start marketing your property the moment you place it in our hands. Photos & details will be submitted on 3 websites, placed on our rental list and details cross referenced with our prospective tenant database. Our aim is to find you the best possible tenant in the shortest possible time.

What if I want to sell my property?

You may list your property for sale at any time, keeping in mind a fixed term lease is ongoing with the property. Should you require any assistance or would like to have a current market appraisal carried out please contact your property manager or complete the Appraisal Request Form

Do I need an ABN number?

The Australian Tax Office has announced that owners of residential rental properties will not need an Australian Business Number, even if there is some minor business use of the property by the tenant.

If a residential property owner wants an ABN, they are entitled to one as an enterprise, but they do not require one for PAYG purposes

Will the GST component of tax deductible expenses be allowed as a deduction?

Owners should seek qualified advice. Generally, however, the entire cost (including GST) will be allowed as a deduction for income tax purposes where you are not entitled to claim input tax credits.

Do I have to insure the property or does the tenant do that?

As the owner, you are required to insure the building, contents (fixtures & fittings) and public liability. If the property is a Strata unit, the building insurance may be covered by the Body Corporate however, you should have contents insurance for the carpets, blinds, curtains, light fittings and any appliances inside the unit. Tenants are responsible for their own personal belongings but not for the landlord's.

Who is responsible for maintenance?

Under the Residential Tenancy Act, the owner is responsible to ensure that the property is in a good and habitable condition and to keep all appliances in good working order (e.g hot water systems, stoves, airconditioners etc) The tenant is responsible to maintain the property as it was at the commencement of this agreement and in accordance with the property condition report (fair wear and tear excepted).