Preparing the Home You Live in to be Rented to the Best Tenant Possible

PREPARING THE HOME YOU LIVE IN TO BE RENTED TO THE BEST TENANT POSSIBLE

When you live in a home in Qld  that you now plan to rent there are a few things you need to get organised. Some of this you can do yourself and some you can engage the help from the property manager you choose to engage.

 

This is a list to point you in the right direction. 

 

RENTAL APPRAISAL

Great place to start is to have an experienced property manager let you know what weekly rent might be achievable. These can be done remotely and in person. If you are in business a remote appraisal is a good way to get a start and get an idea. I do a fair few of these and usually they are to people that request them within 24 hours. Using information online about the owner property and then researching what similar properties in the area have been renting for. 

CHOOSING A PROPERTY MANAGER

Choose a property manager early because they can assist and guide you. Along the way as you get closer to the date you need a tenant place.  There are a lot of pitfalls with choosing a manager. What I can suggest is not to choose something just because they are local. Look at Google reviews. We service all suburbs on the Sunshine Coast Qld.

Most owners get caught up on fees. But they need to not worry too much about fees and engage a property manager that will get them the best return on investment. 

Owner choosing a property manager

SIGN A FORM 6

This is the authority for your property manager to look after your property. My accountant has suggested that you can only start to claim tax deductions on your property once it’s ready to be rented and the easiest way to prove that is with a signed form 6. So do this first. Then anything you do after that is a tax decision for preparing the property for tenants.

 

WATERWISE CERTIFICATE

If you get a certificate from a plumber that your home is water wise you can charge a portion of your water bill to the tenant. You really need to get this in place. If your house is not water wise the plumber you engage can change taps to ensure it is. I recommend Jett Plumbing & Gas  on 0484 194 644.

 

GAS CERTIFICATE

If you have gas the same plumber above can get you an updated gas certificate too.

 

POOL CERTIFICATE

If you have a pool this will need to be in date so check it. You can check your home address if your pool certificate is registered and current on this government site here.

 

SMOKE ALARM COMPLIANCE

Legislation changed Jan 2022 so you might need new alarms. But even if you have new alarms 30 days after the tenant moves in they need to be checked. We use Coast Smoke Alarms that charge about $119 annually to ensure all the alarms are working and compliant. Throughout the tenancy. Most of our clients just have us organise this for them. They charge from $119 per alarm if they need to be upgraded to the new legislation. 

Preparing the home you live in to be rented

GARDEN CARE

If you are having the gardens looked after you need to get a quote from who will be doing this to ensure the cost is built into the rent. We use and recommend Emil on 0456 066 411.

 

MAKE SURE EVERYTHING WORKS

When a tenant moves in if something doesn’t  work they will report it. So go around and test all the lights, locks and everything is working and in good order.

PREVENTIVE MAINTENANCE

Does anything need to be done prior to the tenants moving in. Like a deck stained or a wall painted. Anything that can be done affordably now to prevent more maintenance in the future is a good idea. 

 

SPEAK TO YOUR ACCOUNTANT

Depending on your personal structure you need to ensure you have things maximised for tax the best you can.

 

ORGANISING MARKETING

Usually it’s best to have photography and a video done while your furniture is in place. This should be booked as soon as possible so it’s ready for when you go onto the market. 

 

SOLAR PANELS

Most owners allow tenants to move the electricity into their name to benefit from the solar rebate. The only time electricity is kept in the owner’s name is if the rebate is huge and if the name was changed they would lose it.

 

GAS BOTTLES

If you have gas, ensure they are both full for when the tenant moves in.

 

WATER BILLS AND COUNCIL RATES

Most of our clients organise for these to come straight to us. We then pay them and the best part is it appears on the owner’s end of financial year’s statement so it’s easy to track. Some owners of course prefer to ensure these keep coming to them but sometimes they then forget to send them to us, send them very late and it creates tension with the tenants.

These can be sent to info@assetagents.com.au or PO Box 24, Palmwoods Q 4555

LANDLORD INSURANCE

While this covers for damage and loss of rent. The only time our agency has really needed it was because of pet wee. So get landlord insurance that covers pet damage and see how much for. Terry Sheer is very good if a claim is ever needed. Terri Sheer are on 1800 804 016.

 

TAX DEPRECIATION REPORT

It’s a shock how many owners don’t get these. This report for around $500 will allow you to write off the decreasing value of the home every year. Most owners make the $500 back and more in the first year and the 1 report can be used for years. Summit QS is great value on 1800 957 010.

landlord insurance for pet damage

FINANCE

I have saved tens of thousands by reviewing my loans annually. This would be the perfect time to do the same. If you reach out to Paul on 0414 752 235, he’s an excellent broker who can look at your situation and advise if there is a better structure that will help with saving you interest and tax, Paul is very smart. 

 

CLEAN

It’s tempting to clean yourself. Ideally get a bond cleaner. These are different to a normal cleaner and will do a deep clean ready for when the tenants move in. Deb & Dave from Ocean Deep on 0430 059 653 or Jason on 0437679551.

 

CARPET

I’ve learnt not all carpet cleaners are the same. If you have carpet, get them cleaned ready for the tenants. Aaron on 0413 832 515

 

PEST SPRAY

If we supply a property pest free a tenant needs to keep it pest free so this is a great investment . If you have pets it’s also part of legislation. Nambour pest are very good value on 54417090.

 

WHEN TO GO TO MARKET

With most properties in the Sunshine Coast 4 weeks prior to a lease start date is a good idea. Interestingly the closer you get to a lease start date the more inquiries come through from people who need to move immediately. If you go to the market too soon, then enquiry will be low as people just don’t ok that far ahead in life

 

WHAT ELSE DO TENANTS WANT?

Tenants here on the Sunshine coast have some things they expect

Fans in all rooms

Fly screens

Air con in the main living and main bedroom

Dishwasher

 

If you wanted to get rented right away you can also consider repainting the inside and new carpets. New oven, stove top and dishwasher. All this is tax deductible, will add value and increase your rent. 

The post Preparing the Home You Live in to be Rented to the Best Tenant Possible appeared first on Asset Agents.



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