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View ProfilePreparing Your Property for Rent
Preparing your property for rent is essential to attract the right tenants and maximize your return. First impressions count! It’s important for any potential renters to feel right at home and take pride in the property.
Key Steps to Prepare Your Property:
Redirect Mail – Remember to redirect mail to your new address
Utilities – Notify and cancel services like electricity, gas, and phone. Water and council rates should remain in your name but redirected to your new address.
Appliance Manuals – Please provide appliance manuals to your Property Manager or leave them in the kitchen to be collected.
Keys – Supply two full sets of keys (one for the office and one for the tenant), and ensure all locks have working keys.
Smoke Alarm Compliance – Your Property Manager will check if you are smoke alarm compliant and rectify when needed as per current legislation. We have our recommended providers who we know will look after your home.
Security – Ensure the property meets minimum security requirements as outlined in local tenancy regulations. Your Property Manager can sort this for you.
Landlord Insurance – Why You Need It
Landlord insurance provides peace of mind, even with an agent managing your property and good tenants in place. Here’s why it’s essential:
Risk Management – Unfortunately, even with a good Property Manager working on your behalf, you cannot guarantee tenant behaviour, and any issues that arise are the responsibility of the property owner.
Unexpected Situations – Even stable tenancies can become unstable if circumstances change, leading to potential rent arrears or property damage.
Comprehensive Coverage – Landlord insurance typically covers rent loss due to tenant default and malicious damage. Always consult your insurer for full policy details.
It is important to engage with a reputable insurance company giving you complete peace of mind, knowing what will and will not be covered. Again your Property Manager will be able to arrange all of this on your behalf.
To Furnish or Not to Furnish?
Both furnished and unfurnished properties have their benefits. Here’s a quick guide to help you decide:
Furnished Rentals – Can potentially command higher rent, however, it may take longer to find tenants. It is best not to furnish a home with items that have sentimental value as there is a high risk of accidental damage.
Unfurnished Rentals – There are in more demand, so they tend to rent out faster. The Sunshine Coast is still commanding good rental returns on properties, furnished or unfurnished.
Presentation Matters – Regardless of whether it’s furnished or not, presenting the property well will attract quality tenants. Sometimes, adding a rug or a few pieces of modern furniture for photos can make a big difference. Ask your Property Manager how you can maximise your property’s value.
Should You Allow Pets?
It is advantageous to consider tenants with pets and it opens up a broader range of tenants to choose from. Due to pet owners finding it difficult to be accepted as tenants, they tend to settle and be very loyal when they do find somewhere to live.
When allowing pets at your property there are conditions that do apply to the tenant which will put you at ease.
- No additional pet may occupy the property without prior permission.
- The pet must be removed from the property if it becomes annoying or bothersome to neighbours (after reasonable warning has been given in writing).
- The tenant is responsible for any damage caused by their pet, and the property to be vacated in the same state as when they first moved in.
Maximizing Rental Returns
To achieve the best return on your investment, we focus on the following:
Property Presentation – A well-presented property attracts higher rent.
Market Analysis – We evaluate demand, current available properties, and comparable rentals to set the correct market rent.
Speed – Setting the price correctly ensures your property is rented quickly, reducing vacancy periods.
By following these guidelines, your property will be well-prepared for rent, and you’ll maximize your returns while attracting reliable, long-term tenants.
At Property Lane Realty we pride ourselves in offering boutique service for all our clients. We can arrange as much or as little on your behalf as you choose. As we are a portfolio-based company, you will be assigned a dedicated Property Manager who will know everything about your home and will be your consistent point of contact.
