One of the questions that we are often asked is, “What do I need to do to Rent my Property”?
The key to making your property desirable to prospective tenants is to put yourself in their position.
If you wouldn’t want to live in your rental property, the chances are quality tenants won’t want to either.
You need to prepare the property before displaying it to potential tenants and, while the process may very well involve a capital outlay, it will be money well spent.
1. GARDEN, GUTTERING & GARBAGE
Mow the lawn and do the edging
Cut back the trees, shrubs and hedges
Remove the weeds
Clear leaves and other matter from the gutters
Remove any excess green waste, scrap timber, bricks or metal etc. from the yard
2. ORGANISE A PROFESSIONAL BOND CLEAN
A ‘bond clean’ is a complete top to bottom clean of the inside of your property. When compared to cars, its like the difference between a car wash and a professional car detailing. A bond clean normally includes, cleaning of:
Oven, range hood
Walls spot cleaned
Window sills & tracks
Hiring a professional cleaner is not a legal requirement when leasing a property but is strongly recommended.
3. FLOOR COVERINGS
Carpets will need to be professionally cleaned and stains removed, if possible
Vinyl may need rips glued and tiles will need grout cleaned
We recommended that carpet and vinyl be replaced every 10 years
4. WINDOWS AND BLINDS
Clean the glass, frames, tracks and flyscreens
Make sure the windows open and close properly
Mend any holes in fly screens
Dust the blinds and ensure they are in good condition and work properly
Installing tie-downs (cleats) or looped-cords minimises the risk of children being entangled in blind cords . Secure internal blind cords so that dangerous loops cannot be formed.
Treat your home annually for pests, especially if you have had pets living there
Often fleas present themselves after your pet has been removed because their ‘host’ (i.e. your pet) is no longer available
6. LEAKS AND DRIPS
Repair any dripping taps or other leaks
Consider installing water efficient devices and acquiring a water efficiency certificate from a trusted plumber. Once acquired, you can pass on 100% of the water consumption charges back to the tenant
The information below is sourced directly from the Residential Tenancies Authorities (RTA) website.
Property managers/owners are allowed to pass on the full cost of water consumption, provided:
the rental property is individually metered (or water is delivered by vehicle), and
the rental property is water efficient, and
the tenancy agreement states the tenant must pay for water consumption
7. SMOKE ALARMS, SAFETY SWITCHES AND POOLS
It is has been a requirement in Queensland since July 2007 for smoke alarms to be installed in all properties (houses and units). This includes all owner occupied and rental properties. Every property listed for sale and/or rented in Queensland must have minimum smoke alarms installed
Organised for your smoke alarms to be installed, cleaned and certified by a professional before the start or renewal of any tenancy
A professional contractor will supply you with a ‘compliance certificate’ which is useful to have for risk management purposes
If you own a pool, ensure your pool safety certificate is up to date
All rental properties must have a safety switch installed to the power circuit of the property. Make sure your property has one
8. KNOW WHAT YOU CAN CLAIM
You can claim expenses relating to your rental property but only for the period your property was rented or available for rent; for example, advertised for rent.
Expenses could include:
Body corporate fees
Decline in value of depreciating assets
Gardening and lawn mowing
Property agent fees or commissions
Repairs and maintenance
Travel undertaken to inspect the property or to collect the rent
Clients are strongly advised to seek professional financial and taxation advice.
Do some research on insurance policies for your property.
It is recommended that you have:
Public liability insurance – It is a contractual requirement under the management agreement (not required by law) that you hold and maintain a public liability insurance policy of no less than $10 million dollars