How to maximise your rent return
So you own an investment property and are looking for a tenant. The presentation of the property is the key to receiving the best possible rent return. In order to achieve the maximum rental per week, all areas of the property should be clean and in order. In order let’s begin with a checklist of to-dos.
1. SECURITY and SMOKE ALARMS
Make sure the property is fitted with certified smoke alarms. Ensure all doors and windows are to a standard set out in your insurance policy.
- It is has been a Government requirement 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 must have minimum smoke alarms installed
- Prior to leasing your property have all your smoke alarms checked by a professional and receive a compliance certificate
- Check your power board circuit has a safety switch
- If your windows have locks make sure the keys are available
- Provide at least 2 sets of keys for each lock on the house
2. WATER EFFICIENCY
- Check for leaking and dripping taps
- 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
3. PEST CONTROL
The previous owner or tenant may have had pets on the property. You can “flea bomb” your home yourself or employ a professional pest controller.
- A professional pest controller should provide you with a certificate of completion
4. FLOOR COVERINGS
- Have your carpets cleaned professionally
- If you have vinyl coverings then check for tears
- Check for floor tile cracks
5. WINDOWS BLINDS and CURTAINS
- Clean the glass, frames, tracks and flyscreens
- Make sure the windows open and close properly
- Cover all opening windows with 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.
6. GARDEN and GUTTERING
- Cut the grass to the desired level and do the edges
- Take out all weeds from garden beds
- Check your guttering for leaves and other debris
- You can install guttering guards if you want
- Maintain any trees and shrubs on your property
Make sure you have all the required garbage disposal bins. Remove all debris from the property which can include bricks, timber, metal and leftover building materials.
8. ENGAGE A PROFESSIONAL CLEANER
Now that you have your property for a tenant you can engage the services of a professional cleaner. Make sure the cleaner has references and reviews from previous clients. Clean your property from the ceiling to the floor including windows.
Your cleaner will clean the entire home which should include the following.
- All lights and fittings
- Kitchen appliances, fittings and sinks
- Bathroom fittings, shower walls and screens
- Floors, walls and ceilings
- Inside and outside of all windows
We suggest you hire a professional cleaner. It is not a legal obligation. Once the cleaner has finished you should take photos of all the rooms for your reference.
Compare insurance policies from as many agencies as possible. Provide all the certificates you have acquired for work done on your property. Take photos of the inside and outside of your property.
Did you know you can protect yourself from financial loss caused by damage to your rental property by your tenants or their guests, and loss of income due to unpaid rent?
A landlord’s policy will include accidental damage caused by tenants, theft of your property by your tenants, malicious damage caused by tenants, and loss of rent due to tenants leaving without paying.
We suggest you have the following:
- Public liability insurance
- Building and contents insurance
- Landlord insurance.
10. ENGAGE PROPERTY MANAGEMENT PROFESSIONALS
Key2 Property understands property management. Our dedicated team of property managers collectively maintain over 100 properties. We know how to present a property prior to lease. We will maximise your return on investment.
- What you can claim for taxation
- Full tax accounting files
- Maintenance issues
- We stay abreast of property management laws and legislation
- We have a database of potential tenants
- All tenants are security checked
Key2 Property manages over 100 properties. We are experts and qualified property managers. Contact us for a free lease appraisal.