Prepairing Your Property to Rent

 

What is the best way to get a property ready to rent?

 

The property should be presented in the best manner possible to attract the right tenant. We don’t want a bad first impression to detract the right tenant from renting your property.

 

Please see attached a cleaning guide to get your property ready.

Here are some dot points on things to do:

 

  • Have your mail redirected; please insure all mail is redirected to your new address
  • Utilities; Electricity, Gas, Phone etc. please ensure all accounts are advised and cancelled accordingly. The only service to remain in your name is the Water and Council rates but please direct it to your new address
  • Appliance Manuals; Please hand to your Property Manager or leave in the kitchen draw
  • Keys; Please ensure all locks have keys. Supply two full sets of keys (one for the office and one for the tenant)
  • Smoke Alarms and Residual Currency Devices (RCD’S); Ensure the property is compliant with the Building Regulations 2012, for further information please refer to;http://www.dfes.wa.gov.au/ or speak with one of our staff members
  • Minimum security; Ensure the property meets the minimum security requirements as outlined in the Residential Tenancies Regulations 1989, for further information please speak with our staff

 

Landlord Insurance - is it needed?

 

Why do I need landlord insurance if I have an agent?

We at no time can guarantee your tenant’s performance at your property. The risk belongs to the owner of the property, and therefore the owner should be insured for such a risk.

 

Why do I need landlord insurance if I have a good tenant?

Even a good tenancy can turn bad. If the tenant’s circumstances change sometimes the tenancy will become unstable. This can result in rent owing and the property not maintained. It pays to be properly insured, even with a good tenant.

 

What does landlord insurance cover?

Landlord insurance will cover rent loss due to tenant default and malicious damage to the property caused by the tenant.

 

It is important for you to know what your landlord insurance policy will and won’t cover. Please consult with your landlord insurer so that you are fully aware of the extent of your cover and also any excesses that may be applicable in the event of a claim.

Pet Friendly Rentals 

 

Should you allow Pets - The Pros & Cons

 

If you as a landlord are comfortable with a tenant having pets in your property we think it is a big positive. We have found that Tenants struggle to find pet friendly rental properties so if you allowed pets you would find yourself at a competitive advantage. Due to pet owners finding it hard to rent somewhere that is pet friendly they tent to stay put and be very loyal when they do find something.

 

The cons of allowing a pet are not high as we will always get references and check previous rental history with the pet.

When allowing pets at your property there are conditions that do apply to the tenant which will put you at ease.

 

We always sign pet conditions with your tenant on their tenancy agreement. This obligates them in 4 ways:

 

  1. No additional pet may occupy the property without prior permission.
  2. The pet must be removed from the property if it becomes annoying or bothersome to neighbours (after reasonable warning has been given in writing).
  3. The tenant is responsible for any damage caused by their pet, and removed any rubbish or faeces deposited by the pet.
  4. A pet bond of $260.00 will be collected in the event that a fumigation treatment is required at the conclusion of the tenancy.

 

We also record the details of the pet on the lease agreement, which is then signed by the tenant

To Furnish or Not to Furnish

 

Should I furnish my rental or leave it unfurnished?

 

We often get asked if a property will obtain a higher rental if it is furnished or if it will attract better quality tenants?

 

Both furnished and unfurnished properties are great. If you have furniture and need to keep the furniture in that property then yes keep it as furnished. Your rental return is usually higher when the property is furnished but in saying that it does take a little bit longer to lease out. The demand for furnished properties isn’t as high as it is for unfurnished.

 

Having your property Furnished or unfurnished isn’t going to determine the quality of tenants you get. If your property presents well it will attract better tenants.

 

If you are having photos taken, sometimes a rug or some modern furniture can help present your property in a better light.

 

How to Maximise Rental Returns

 

How can you help obtain a higher return on your Rental Property?

 

Having the property presented in the best manner possible will always attract higher rent.

PPM will strive to get you the maximum rent possible; however we must keep in mind setting the correct market rent to get your property rented as soon as possible.

 

Below are some factors we consider when marketing your property.

 

  1. Demand- Is there a high or low demand for properties at present. This can be seasonal and affected by a number of factors.
  2. What is available now- We look at properties currently available for rent on the internet and or newspaper, and consider their location and features for comparison to calculate a maximum rent for your property.
  3. What we have rented now- We compare your property with what we have currently rented taking into account property locations and features.
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