As the owner of an investment property there are several things that you must do to get your property ready for tenancy. Below is a list of items that any owner should have completed before a new tenancy or advertising of a property.
At Property Zest will always advise our clients and gain instructions and quotes prior to undertaking any activities but also highly recommended undertaking these tasks as quickly as possible to minimise any vacancy time.
Cleaning is always an issue when it comes to a tenancy, especially when a tenant vacates premises. We advise at the start of any new investment property to have the property professionally cleaned. This enables us to provide a high level of cleanliness as the baseline condition of the property at the commencement of the tenancy, which effectively sets the standard of how a tenant should leave the premises when it is time to vacate.
It is a common question from property owners to ask whether a tenant can be charged for water usage. We advise that the owner obtain a water wise compliance certificate, to be completed by a licensed plumber. This is a once off fee and can be used for the whole tenancy of a property. A licensed plumber will go to the property to review and advise if anything needs to be replaced to make the property water compliant. Once any required items have been rectified the plumber will supply a certificate and this certificate allows an owner/agent to pass on water usage to be paid by the tenant throughout the whole tenancy.
Another common question relates to smoke alarms and requirements for rental properties. This is an area that is tightly legislated and one that owners must comply with. Laws are put in place to protect all parties involved and here at Property Zest we make sure that the property is compliant by engaging with a licenced smoke alarm compliance company to check and issue a certificate of compliance. This will protect the tenant, owner and ourselves for any future issues that may arise. This is an annual cost at the time of writing starts from $79 for a basic level of service, though various packages may be on offer. A certificate of compliance is supplied to owner and agent and then during the tenancy if anything needs to be done with the smoke alarms, the company attends fee of charge.
When advertising a property for rent, it is in the owners best interests to get a professional photographer in to take photos. This will help advertise your property in the best way possible instead of photos from an iPhone or with poor lighting. Poorly photographed properties won’t do your property justice and will result in a lower number of enquiries about your property.
Once a tenant has been selected, we will need to provide them with keys. The rule of thumb is, a full set for the managing agent, and full set for how many tenants are on the lease.
In between tenancies is often a good time to get any outstanding maintenance issues sorted out at the property as it can be easier for tradespeople to gain access for quotes and attend to maintenance or improvements whilst the property is vacant. Staying on top of maintenance and making ongoing improvements will improve the longevity of the property and improve its appeal to prospective tenants.
If you have any questions in regards to the above, please give one of our friendly Property Managers a call on 1300 799 114.