Renting out your property can feel like a daunting process. While the current market is favourable for investors, making your property stand out is still essential to attract quality tenants.
To ensure your rental is market-ready and meets all necessary requirements, it’s important to take the right steps before listing.
Cleaning:
A well-presented home appeals to tenants and sets the standard for how the property should be maintained. Consider professional cleaning, including carpets, to ensure a fresh start.
You don’t need to overspend on decor, but small enhancements can make a big difference. Maximize natural light, keep windows and blinds spotless, and focus on high-traffic areas like kitchens and bathrooms. Ensure everything is in move-in condition before potential tenants visit.
Outdoor spaces also matter. Mow the lawn, trim shrubs, and choose easy-care plants for a polished look. A tidy exterior helps prospective tenants visualize themselves living in the space.
Safety and security:
Compliance with safety regulations is not only a legal requirement but also a key factor in protecting both your tenants and your investment.
Essential safety checks include:
-Electrical & Fire Safety: Have an electrician inspect the Residual Current Device (RCD) and smoke alarms to ensure they are compliant and issue an Electrical Safety Certificate.
-Security Measures: Confirm that locks, lighting, and windows meet security standards. Ensure all entry points are accessible and secure.
-Key Management: Provide at least two full sets of keys—one for the tenant and one for yourself or your property manager.
-Child Safety Precautions: Secure blind cords and chains to prevent potential hazards, regardless of whether tenants have children.
-General Safety Walkthrough: Inspect the property inside and out, identifying any hazards and arranging necessary repairs.
-Appliance & Furniture Checks: Ensure all appliances function correctly, and fasten free-standing furniture to walls where needed.
-Pool Maintenance (if applicable): Clean the pool, provide clear maintenance instructions, or arrange a handover session for tenants.
Manual book:
Even an unfurnished home has its quirks. A simple guide with operating instructions for appliances, air-conditioning, hot water systems, or security features can be invaluable to tenants. Including maintenance tips for specialty flooring, benchtops, or other unique features can also help prevent unnecessary wear and tear.
It may seem overwhelming at the start, but taking the time to ensure your rental property is prepared to be rented out will save you time and money and more importantly, mitigate any risks down the track.
Insurance:
It’s crucial for landlords to have comprehensive insurance coverage, including Building Insurance and Landlord insurance.
Having valid and thorough insurance is essential to safeguard your investment property. Unexpected events, such as storm damage, water entry, accidental or intentional tenant damage, fire, or theft, can occur, leaving you exposed. Additionally, repairs and maintenance must be carried out promptly by licensed, insured, and qualified tradespeople. Failure to do so can result in breaches of legislation, and in some cases, lead to serious injury or even death. If landlords cannot prove they have acted professionally, insurance claims could be denied, leaving them personally liable. This could expose the landlord to significant financial risk. Our services aim to reduce this risk by engaging experienced, high-quality tradespeople for all repairs.
We can recommend the following landlord insurers for your consideration:
https://www.terrischeer.com.au/
Need help? Get in touch with us today for expert guidance on preparing and managing your rental property.