Real Estate FAQ’s

Once your property is subscribed to the $77.00 annual subscription, subject to meeting our joining criteria, you will not need to pay anything else should you need to lodge a recovery with us. Barclay MIS cover all legal and enforcement costs and do not charge any additional commissions from funds collected.

Under the subscription our fee structure is not based on a percentage of the debt, as such, we are happy to work on any debt owed over and above the bond, even $50.00.

One is not intended to replace the other however they do complement each other. Think of if more like having car insurance and a roadside break down service, such as NRMA, RACQ etc.

Often an insurance product cannot be utilised until the tenant has vacated and there is an issue and or an amount of money owing. On most policies there are costly excesses to be paid before making a claim and or some exclusions, totally depending on what and why you are claiming. You will receive a payment upon acceptance from the insurance company. With the exclusions and or excesses there can be a short fall of monies paid out to settle the claim. Barclay MIS have no excess or exclusions. We can recover from the tenants any short fall relating to insurance claims against the tenant.

While your property manager takes the management of your investment very seriously, unfortunately there are circumstances when dealing with human nature that are simply beyond anyone’s control. They are obviously very good at property management and that is what they specialise in. When vetting application forms, they put the most suitable applicant at the time into your property and hope that the tenancy goes smoothly without any issues. However, with the ever-changing economic climate any good tenant can quickly turn into a bad tenant for many reasons, most of them being loss of job, marriage break up, drugs or gambling. These are all circumstances beyond any one’s control. If your tenant unfortunately falls into one of these circumstances, they could leave owing thousands owing over the bond.

Barclay MIS and your agent will work together throughout the tenancy. Once the tenant has vacated and there is a final amount outstanding is where your agent’s responsibility ends, and Barclay MIS will take over the debt recovery process should it be needed. The agent can then again focus on re-letting the property and the new tenancy.

Prevention is at the heart of the Barclay MIS Protect & Collect service. We strongly believe the earlier we are involved in the arrears process the greater chance we have of preventing or mitigating any loss you may suffer. We do this by working with your agent and allowing them access to a range of online tools to utilise on your behalf throughout the tenancy.

Every recovery is different, however on average most debts are settled with 18 months of commencement, this is dependent on the tenant’s circumstance and number of tenants we can pursue.

Barclay MIS do not pay agents to recommend this service.

Not at this time, the Barclay MIS Protect & Collect Residential Property subscription is only available on properties that are managed by a licensed Real Estate agent.

Yes, simply notify our office of the change of agent and we will transfer the subscription and ensure the new agent is familiar with the services we offer.

We recommend your agent lodges the recovery on your behalf through their ‘Client Portal’ as they will have access to all required documentation. If, however this is not possible please contact our office and we will assist you through the process.

Barclay MIS Protect & Collect is NOT an insurance product, as such we do not have ‘Policy Details’ or a ‘PDS’. You will find our ‘Terms and Conditions’ by following this link: http://barclaymis.com.au/?page=pac_terms&src=res .

Our aim is to keep all costs to a minimum for all landlords, as such we do not offer a discount for owners with multiple properties.

If there is a tribunal/court order in place Barclay MIS may, as part of the recovery process, convert these to a Judgement Debt in the Magistrates Court, in doing so credit reporting agencies who purchase these records do have the ability to lodge the debt against the tenant’s credit file.

For Barclay MIS to enforce a debt in the magistrate’s court we will require a Tribunal/Court order to be obtained by your agent. You can still lodge a recovery with us without a tribunal/court order, however it is important to note, with a court/tribunal order you have a legally enforceable debt, without the order all you have is an overdue account.

Yes, we do offer a debt collection service if your property is not subscribed. Please make contact with our office and we will explain the costs associated with lodging the recovery.