Whether you are leasing your property for the first time or just about to re-let, handing over your home to tenants can be daunting, but with the right preparation you can be confident in your role as a landlord.
At LJ Hooker Walkerville we recommend adopting these four P's of preparation to ensure handing the keys over is an easy transition.
Professionalism
Choose a professional to manage your investment property. At LJ Hooker Walkerville we advise you of your landlord responsibilities, explain rents, bonds and general finances, choose the best tenant for your property, carry out regular property inspections and maintain regular communication with you throughout the tenancy.
Presentation
The tenants leave the property in the state they entered it, so it is important to hand over a well maintained and safe property in the beginning. All carpets must be cleaned prior to tenants moving in, it is then the responsibility of the tenants to have the carpets cleaned when they vacate.
Protection
It is important that your investment property is insured, the best approach being to take out Landlord Protection Insurance. Investment properties are often covered under general building insurance but there are policies, when you get down to the fine print, that are void under tenancy.
Perks
These are your property's additional features such as a swimming pool, spa, exceptional gardens, dishwasher, clothes dryer etc. If such perks are to be the tenant's responsibility, you need to ensure that the necessary equipment is available for them to carry out maintenance. If you allow pets, make sure the ground rules are clear and all parties agree to them.