Newbie questions on PM

[10in10y]

I have questions on my first IP. Bought NRAS property in QLD and got PM looking for tenants. Been advised that they selected the tenant for me. I asked for some details on tenants, i.e. incomes but been told they cannot disclose tenants income due to strict privacy rules required by housing provider......

So I'm wondering.....
1. what details on tenants I am entitled to know and what you guys normally ask for? I now only know that they are a couple working in certain industry, with OK rental history, and that's about it. Is there any guideline/rules on this? I would like to understand what tenant details I can ask for and what I cannot.

2. Do we normally see the applications from tenants or PM will handle all this and we cannot see them?

3. NRAS PM is diffferent than PM for non-NRAS (besides the fee)? i.e. it is more restrictive in term of tenant info disclosure?

Appreciate any input. Thanks.

 

[Joel]

I don't have an NRAS property but did not think there were any additional conditions imposed by NRAS regarding privacy.

I micromanage so I ask for the application forms from all applicants and have been provided them in the past. If anything its just a way to keep the PM sharp as I may or may not read through them. I would just skim through them quickly and look through the recommended tenant in detail.

 

[HD_ACE]

Everything they disclose to your agent is fair game to you.
Dont forget the agent is working for YOU so you are intitled to all information provided to them.
I dont think nras is any different.
Cheers

 

[Scott No Mates]

In total agreance with the above, the agent is acting in your place so you can request all information provided by your tenant. What if you sack the PM and manage yourself? Are you then entitled to the full information from your ex-agent? Nail them.

 

[euro73]

You absolutely are entitled to be provided with the information you are requesting. They cant play the "privacy" card. For starters, the Property Manager is required to provide the tenants income information to the NRAS Approved Participant ( consortium), who are in turn required to provide that information to the State and Federal Governments ( via a system called FOFMS), and this is required annually ( every May, as the NRAS year runs from May- April) .. so they are certainly able to give the information to you as well.

You have every right to demand the information, if for no other reason than to be assured that the income eligibility requirements of the tenants are being met , because that directly affects whether or not you receive the NRAS tax incentive.


As far as them selecting the tenant for you; in Qld , tenants must be selected from a centralised list, maintained by the State Govt. Tenants get on the list by registering online and demonstrating they are eligible ( income test) In other words, it's a computerised waiting list. Qld is the ONLY state where this occurs for NRAS. In all other states, PM's find tenants the conventional way- advertising. That being said, to the best of my knowledge, that doesnt mean you have to accept the next person on the QLD list, blindly. I dont think it's unreasonable for you to ask the PM to provide you with several prospective tenants for you to choose from.

Go straight to the NRAS Approved Participant ( consortium) and have them instruct the PM to release the information to you, and also have them instruct the Approved Participant to show you at least 3 prospective tenants from which you can select.