Get your Property Rent Ready

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Get your Property Rent Ready

Preparing your own home for other people to rent is not as simple as just moving out and putting a for lease sign out the front.

Not only does a rental property that presents well have a higher chance of securing a high quality tenant, but chances are, they’ll take better care of it also. So, before you run that marketing campaign, or open the doors to property hunters, check our recommendations to ensure your investment has what it takes to get the winning edge over it’s competitors.

 

Here is our checklist of what you should consider before renting out your home:

  1. Number one is property the hardest and most terrifying step, choose a property manager! For more information and tips on how to choose the best property manager for you check out our blog “What to look for in a property manager in Brisbane”.

  2. Your property must be safe and fit for a tenant to occupy. All doors and windows must lock securely, and a key must be provided for each lock. All corded internal window coverings must comply with the Trade Practices Regulations 2010. Your property manager can advise you of any maintenance work required and approximate costs involved.

  3. Does your property require any extra appliances or structures to make it more tenable, or to earn extra rent? This can be anything from installing an air-conditioner, dishwasher or making sure the property is fenced. Your property manager can advise you accordingly of what tenants in your area are looking for. Remember, your property will be competing against others not only for price but for presentation as well!

  4. Cleanliness of the property is a requirement inside and out. Carpets and a pest treatment form part of this first clean. This initial expense sets the standard and ensures future tenants will then need to return the property in the same condition it was handed over to them (fair wear and tear considered) after each vacate. Please leave specific cleaning instructions for appliances/other inclusions (if required) with your property manager, along with copies of operating instructions or manuals for appliances or other items which tenants may require instructions to use.

  5. The gardens and lawns must be presented neat and tidy for the tenant - lawns mowed, hedges trimmed & and gardens free of weeds. Again this sets the standard for your tenant/s to maintain. You may like to consider whether you employ a gardener and build the cost into the rent, or have the gardens maintained by the tenants.

  6. Your property will require working smoke alarms and an electrical safety switch. As of January 1, 2022 all rental properties in Queensland that are Class 1a or Class 2 buildings must comply with the new smoke alarm requirements that are detailed in the Fire and Emergency Services Act.

  7. Organise a reputable quantity surveyor. These professionals will organise a schedule of maximum deductions that you can claim every year. This is a one-time expense and is usually between $350 - $400 (e.g. BMT Tax Depreciation).

  8. Contents insurance for your property’s fittings and fixtures may be included with your property insurances or incorporated in a landlord protection policy. As your managing agent we require that you have public liability insurance for your property. If your property is a unit, the cover must include the internal unit space. NOTE: Public liability under the building insurance, taken out by the body corporate, only covers the common areas. It does not cover events inside your unit!

  9. If your property is a unit or a townhouse a copy of the by-laws are to be provided to the managing agent for future tenants to refer to.

  10. Consider Landlord Protection Insurance – Whilst rental reference checks are completed as thoroughly as lawfully allowed, we cannot predict or know how a tenant’s future ability to meet their tenancy obligations can be affected e.g. in event of death or long illness, loss of job, relationship split etc. We recommend all lessors arrange an insurance policy to protect their investment.

  11. If your property is separately metered and you have water saving devices installed at the property you may like to claim the full water consumption costs from your tenant. An inspection by a licensed plumber can ascertain if your property is compliant for this.

  12. Consider whether you'd like to allow pets to live at the property and whether any allowances - fencing, cat flaps etc. would need to be installed. Many tenants these days have cats, dogs or fish and allowing pets can sometimes mean a higher chance of securing tenants sooner. Our lease agreements include very detailed pet clauses to make sure any pet-related issues are rectified within a reasonable time frame by the tenant/s and at their cost.

  13. A full set of keys is needed – one set for the managing agent and one full set plus additional access keys for each tenant named as the lease holder under the lease agreement.

  14. And lastly, if you're moving out of your home remember to redirect mail via Australia post/notify Council of your forwarding address for rates notices (if you have not instructed our agency to pay the rates on your behalf) notify Energex/Gas/Phone/other utility companies to finalise accounts if applicable, and provide your forwarding address details/notify your insurance company and mortgagee holder of the change of occupancy status.

 

Whether you're a first-time investor, leasing your family home or are looking to transfer your management agreement, we are 100% dedicated to efficiently managing your investment, and our client feedback confirms we are delivering on our commitments.