Bond payments are to be made in accordance with Stellar Living’s Tenure and Transfer Policy, and Rent Setting and Bond Policy. Bond is four weeks rent, and payable in advance to signup. A pet bond may also be applicable, it is currently $260. This assists with the cost of fumigation at the end of tenancy.
Bonds are held with the Bond Administrator till the end of tenancy, in which case they will be returned either wholly or in part after due process. When rents increase, an additional bond can be gathered, Stellar does not currently choose to increase bond monies held.
The rent for each property will be determined in accordance with Stellar Living’s Rent Setting and Bond Policy. Stellar Living assesses all incomes from occupants who are 16 years and over. Those who are working and under 21, or students under 25 will have only 10% of their income included in the rent assessment, unless they are the primary tenants, in which case it is 25%. Only regular and continuous incomes are included as assessable income, and regular incomes that are calculated as yearly amounts are divided into fortnightly amounts for assessment.
Stellar Living determines its rent rates in accordance with our contractual and ATO obligations. Stellar Living uses the market rent calculations set by the ATO, and sets its maximum rent as 74.99% of the market value.
Stellar conducts annual rent reviews as required by Agreements with State and Federal authorities. Where a tenant does not provide necessary income details the rental amount defaults to maximum rent allowable. Increases in rent are per the necessary time frame notice according to the Residential Tenancies Act. In the case of rent decreases, these can be actioned straight away.
Stellar considers each tenancy on its own merits, and in hardship circumstances is able to make allowances which may include pay off plans to assist tenants to keep up with their responsibilities.
Tenants are required to inform Stellar of any changes to their circumstances. These include, but are not limited to, adding a child, child leaving home, obtaining or changing jobs, change in circumstances of family members, etc.
The CRA paid by Centrelink is not treated as income, and the entire amount is calculated for payment to Stellar. If you are eligible for CRA this will be calculated into your rent payable calculations.
All new tenants are required to pay two weeks rent in advance before receiving the keys at sign-up. Accounts will remain in credit if a further two weeks rent is paid upon occupation, and maintained with regular weekly or fortnightly payments.
Stellar Living’s preference is that all payments by tenants be made electronically or by direct deposit into our nominated bank account. Cash will not be accepted at any time.
Tenants are liable for rent, water usage, tenant liability and other amounts owing to Stellar Living.
Centrepay – this is Centrelink’s direct deduction scheme, and is at no cost to you.
Direct Debit – arranged by you through your bank (bank charges may apply).
Direct Deposit – to Stellar Living’s bank, as per details below:
BSB: 086 006
Account: 11 366 5834
Reference: put your name or your property address as your reference.
There are no receipts issued for electronic transactions, but copies of your rent sheet can be made available upon request, or as per the quarterly rent and non rent statements.
Money order or Cheque – all cheques or money orders paid to Stellar will be issued with a receipt.
Legal action taken to recover arrears is in accordance with the Residential Tenancies Act.