Are you a new landlord renting out your property to short or long term tenants? Before you list your property Sails Real Estate recommends these tips for new landlords. Firstly it’s important to understand what potential tenants will be looking for in the Merimbula, Pambula and Tura Beach real estate rental market. Location is always paramount – is the property near schools, shops, beaches or other amenities – any of these will be a drawcard. What your property offers, such as air conditioning, heating, dishwasher, car accommodation will be a big consideration when compared to other properties on the market. The size of rooms and storage capacity, the length of the lease, whether it’s high or low maintenance, whether the property is for sale, security and safety are all major factors that affect a potential tenant’s decision to rent your property.
Remember your rental property is being compared to others and the better presented it is, the more likely you will have it tenanted.
Check the letter box is intact, gutters are cleaned and the fence is in good condition, perhaps it needs a new coat of paint.
Ensure your rental property is clean overall; consider a new coat of paint to freshen it up. Check for mould/wet areas, if you find any have a professional fix them. What is the carpet like, are there loose threads? They may create a hazard so fix them. Check the fly screens, if they have holes replace them.
Firstly, your rental property must be clean and tidy, safe and ready for entry. A working safety switch must be installed. All rental properties must have smoke alarms and Landlords are responsible for installing them; it is recommended that a new battery is put in at the commencement of a tenancy if the alarm has a replaceable battery. Swimming pools must have a valid pool safety certificate and comply with safety legislation. If tenants are being charged for water, the property must meet Water Efficiency Standards, such as no leaking taps, a maximum flow rate of 9 litres per minute for taps and showerheads and individual water metres. A Plumber’s Report or Home Water Wise Services paperwork is required. We at Sails Real Estate, have a great network of reliable tradesman and trades specialists that we work closely with on your behalf if required.
This is one of the most important purchases a property investor can make, covering buildings and contents, damage by tenants and rental default. Remember to inform your insurer that you are now renting your property and change your policy. If you don’t have insurance your local financial institution or broker may be able to help