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Frequently Asked Questions
FAQs for IPB clients
When will I receive rental income?
Rental income will be deposited each month via the bank account details provided. Here at IPB, rental payments are paid directly the same day they hit our account.
We will also issue an itemised rental income statement showing all rental income paid as well as any payments made on your behalf, along with any associated invoices. With transparency a big part of the IPB approach, any payments made on your behalf will be discussed and agreed upon prior.
If you have a question about your rental income or a third-party payment, please contact your property manager directly.
When do property inspections take place?
Routine inspections are conducted for each of our properties, conducted within the first 3 months of a new tenancy and every six months during the lease period.
Our property management team conducts detailed inspections and will provide a comprehensive report of your property. This report will be provided with photos as well as any maintenance requests or concerns raised during the inspection.
While you do not need to be present for inspections, you can request to attend at any time. Simply contact your property manager before the agreed inspection date.
I would like to sell my investment property. What do I need to do?
As a rental agreement is legally binding, you need to provide notice to renters on your decision to sell the property. Here in Victoria, a notice of intention to sell must be provided at least 14 days before the property is first made available for showing.
To enable us to provide the best possible advice, please contact our property management team as soon as property discussions begin. As independent property advocates, we have relationships with agents across Melbourne and can also support you in the selling process.
> See more about selling services
Who manages property maintenance?
Your property manager will manage all maintenance and repairs for your property. While we have a trusted list of tradespeople and specialists, you can also provide details for your preferred repair person.
Your property manager will contact you directly about any maintenance requests and will provide an estimate for your approval before any services are confirmed. You can choose for these repairs to be invoiced separately or paid from monthly rental income.
You can also agree to a maintenance threshold amount that your property manager can approve on your behalf for urgent repairs.
FAQs for IPB renters
How do I pay my rent?
Your property manager will provide you with payment information when your rental agreement is signed. This can be paid via direct deposit or direct debit. Your rent must be paid on or before the due date, allowing time for bank processing times.
If you are having trouble paying your rent or know there might be an issue with a payment, please notify your property manager as soon as possible.
We will also issue an itemised rental income statement showing all rental income paid as well as any payments made on your behalf, along with any associated invoices. With transparency a big part of the IPB approach, any payments made on your behalf will be discussed and agreed upon prior.
If you have a question about your rental income or a third-party payment, please contact your property manager directly.
Do I need to be present for my property inspection?
While you are not required to attend, you are welcome to be present and ask any questions you might have. Any concerns during the inspection will be addressed with you directly as well as provided in writing. We encourage you to raise any questions or issues with the property during this inspection so our property manager can address any concerns.
I need an emergency repair. What should I do?
For all emergency repairs, please contact your property manager or our office immediately.
Emergency repairs are those that could cause injury to yourself (or another) or could damage the property if not serviced, and could be:
- Burst water pipes
- Hot water service failure
- Serious roof leaks or flood, storm or fire damage
- Failure or breakdown of hot water services, gas, electricity or water supply
- Failure or breakdown of heating or cooling systems (if no other service is available)
- Dangerous electrical fault or gas leak
- Pest infestation
- Mold or dampness related to building structure
For after-hours repairs, please contact us on 1300 472 289.
I need to end my rental agreement. What do I do?
If for some reason you need to break your lease (end your agreement before its expiry date), you must give 28 days’ notice in writing to your property manager.
As your rental agreement is legally binding, there will be incurred associated costs and responsibilities, including meeting rental payments until a suitable replacement renter is found.
We recommend you contact your property manager as soon as possible to talk through the details and ensure you know what your obligations will be.