Currently looking for a property manager for an IP I recently purchased and came across this offer. Rent on time is offering free property management for 12 months if you appoint them to manage your property before 31st March 2025. This offer includes attending to the following for your property:
- Monthly administration
- Routine inspections
- Maintenance and repairs
- Sundries
- EOFY statements
- Online portal for owners
- Online portal for tenants
Important Information
- This offer can be applied to properties with an existing tenant and properties that are currently vacant.
- Can be applied to multiple properties from the same landlord (so, if you have more than 1 property, we can manage all of them for free, for the first 12 months)
- Australia-wide - We are licensed in every state in Australia and can manage your rental no matter where it is located.
- After the 12-month period, our fixed fee is $28 (inc GST) per week. So, this offer saves you over $1460.
I have never heard of these guys before stumbling on the offer on Google. The Google reviews albeit only few, are all positives (obviously we can't trust them). ABN search shows they registered the company in 2021. Will be contacting them to find if there are any catches with the offer that will lock you in. Keen to hear if anyone had any previous experience with these guys.
Update:
Got response from them on some of the questions I have about the offer and their other fees.
1. Do you have a link to the terms and conditions of the offer as I couldn't find it on the page?
You can begin the sign-up process here: https://rentontime.com.au/appoint-us. This will generate a draft agreement that includes all our terms and conditions. You can download this prior to signing or making any commitment. However, in the meantime, here are the general conditions of our offer:
OUR FEE STRUCTURE:
Rather than a Management Fee calculated as a percentage of the rent collected, we charge a fixed fee of just $28 per week per property.
Our Management Service Fee includes the following:
- Routine inspections (2 per annum)*
- Rental statements
- End of year financial statements
- Dealing with any maintenance requests and repairs
- Payment of Bills from rent (Council Rates, Water Rates…etc)
- Re-letting to existing tenants
- Processing insurance claims
- Office expenses such as phone calls and postage
- Service of any notices
With regular communication with Landlords and tenants, we find that 2 routine inspections are more than enough to properly manage any property. If additional inspections (more than two) are required, there is a separate fee of $88 per additional inspection. NB - We have yet to have a case where we have had to instigate extra inspections across our entire existing portfolio.
2. 12 MONTHS FREE? WHATS THE CATCH!?
This is a common question. The catch is that you are signing up to a 13-month contract. You pay no property management fees for the first 12 months and then you pay for the second year in month 13, in the form of an annual upfront payment ($1460 per property = $28 x 52 weeks). Please note, if you choose to leave us at any time in the first 13 months there is a break fee payable of $1460 per property. This is to stop people taking advantage of our free offer and then leaving once the “free” period is up.
3. Is there any lock-in period?
Yes, 13 months as per above.
4. Would a single agent be managing my property or do they change through the contract period?
As a general rule, once you have been assigned to a property manager, they would not change unless they leave the company. In fact, this one property manager will be your single point of contact for your entire portfolio - even if the properties are in different states/cities!
5. Will I have a direct contact number to the property manager or do I have to go through a call centre?
You will have a direct number and email address for your Property Manager. No need to go through the call centre.
6. Does you $28 a week fee includes property condition report at the beginning and end of lease?
No. This is included in our New Tenancy Fee. We charge a flat fee of $695 per property to cover the marketing on realestate.com.au, inspections, pre-post condition reports, tenant selection and lease preparation…etc. Please note that this fee is not included in the 12-month free offer.
7. What are you marketing and lease renewal or new lease signing costs if any? If you have a link to full fee schedule please share.
New Tenancy Fee = $695 per property
Professional Photography (if required) = $175 per property.
The only other potential fees are related to our attendance at NCAT or other tribunal on your behalf:
Applying to a tribunal or court = 200% of the cost of application fee
Attending a tribunal or court = $180 per hour
Looks like these companies are run from same residential address:
https://buymyabode.com.au/
https://justsuperfund.com.au/