You may be expecting a post about knowing your income and expenses - your financial figures - but we're going to take a different path in this article. 

Just as important as knowing the financial numbers for your investment is knowing the other essentials - the important numbers which dictate how and when you can take certain actions with your investment property. For example, knowing how many days notice you need to provide should you wish to ask your tenants to vacate the property, how many days notice are required to increase the rent in your property, how many routine inspections can be held per year, and more. 

Think of this post as your "cheat sheet" of must-know, non-financial numbers for the success of your property. Let's get started!

In conversations with owners new to property investment, and with people who have chosen never to invest in property, we often hear this sentence: "What if the tenants trash the place?".

The feeling of apprehension and nervousness is understandable. No one wants to risk having something of value handed over to someone who will cause damage and disappointment. However, while the feeling is understandable, it is usually not justified. 

We often hear stories from tenants who have had experiences in the past of unannounced or frequent visits from their agent or landlord. Unfortunately, especially when a landlord lives nearby to their investment property, the landlord can feel too comfortable simply "dropping past" the property to check on something, complete a minor repair, and so on. 

There are very clear notice periods required in order for a landlord, real estate agent or any other party acting on their behalf to enter a rental property.

The level of cleanliness of a rental property is crucial for both landlord and tenant. As a landlord, ensuring your home is in top-top condition at the start of the rental period will help ensure this is the state the property is returned in. A beautifully prepared and presented home will also often achieve higher rental return and a greater number of high-quality applicants. 

When a tenant is vacating a property at the end of their term, the condition of the home is required to be similar to the condition it was provided in at the start of the term - as documented on the ingoing condition report and accompanying photos. If not, the rental bond paid at the start of the tenancy can be withheld to recover costs of cleaning and repairs which may be required to return the property to its previous condition. 

So, how can a landlord be sure that their investment property is as clean as it can be before a tenant moves in? And how can a tenant ensure they have covered everything when cleaning the home at the end of their lease term? Our detailed and downloadable cleaning checklist will help!

​Landlords and tenants alike will be familiar with routine rental inspections. From the landlord's perspective, these inspections are part of the commitment made by a property manager in promising to look after their investment. It provides a scheduled opportunity to review and document the state of the property, ensure it is being looked after by the tenant, and to address any issues which may be presented.

From the tenant's perspective, these inspections are often a good excuse to tidy up a little more than usual (let's be honest!), and show the level of care you have for the property you're renting. 

Most property managers commit to completing three or four property inspections per year. In many cases, the date of the first inspection is agreed at the time of the tenant signing the lease. 

In the course of a year however, it can slip the mind of the landlord that these inspections should be taking place. However, this is not the landlord's responsibility, it is the responsibility of the property manager.