You’ve just purchased an investment property and your first ever tenants are about to move in; congratulations on becoming a landlord!
How do you prepare your house or apartment for the new tenants to rent? Here are some tips on what to do before they move in to establish a good relationship from the get-go.
1. Appoint a property manager
All of the interaction with tenants and preparations can become overwhelming, particularly if you’ve got other investment properties. A property manager will do all of the paperwork, interactions with tenants and arranging of property maintenance for you, freeing up your time and ensuring everything is done in accordance with residential tenancies act.
2. Arrange necessary cleaning and repairs
It is your responsibility to make sure that all areas of the house or apartment are clean. This includes windows, carpets, curtains and all outdoor areas such as balconies and yards. Ensure you don’t miss those sneaky spots either – clean your range hood, underneath fridges and ovens, dust windowsills and light fittings, get rid of cobwebs from door frames, and make sure those drains and sinks are unclogged.
Not only should everything be clean; it also needs to function. Test all amenities and appliances in the kitchen and bathroom, including the toilet, sink, fridge and oven. You don’t need to do this all yourself; your property manager can arrange a trusted cleaner for you for a relatively low cost.
3. Consult the Residential Tenancies Act
Your property is required to meet the standards outlined in the Residential Tenancies Act 1997, particularly when it comes to conducting urgent repairs. Make sure you read this document thoroughly and address any faults outlined in the document that could mean your property doesn’t meet legal requirements, such as roof leaks or electrical faults. Your property manager should be well versed in this and will be able to assist you.
4. Prepare the property for advertising and inspections
Everyone loves a well-presented property, not just prospective buyers. It helps us imagine what we can do with the property ourselves. Ensure the property is looking its best for photos and open for inspections, for example, the addition of flowers or indoor plants can always brighten the room. If you are wanting to do a little bit extra, you can even get in a property stylist. Ask your property manager for some tips on what would work best for your property.
5. Put everything in writing
Be proactive and ensure everything is in writing (that is, in the rental agreement). For example, make sure it’s clearly outlined who will maintain the property, garden, mow and pay for setting up phone or cable TV connections, as well as any other details that could cause potential issues down the track.
Source from realestate.com.au
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