Carnelian Property Management Newcastle
  • Home
  • Contact
  • About
    • New To Renting Your Property?
    • Info For Experienced Investors
    • About The Team
    • What We Do
    • Testimonials
  • Rental Appraisal
  • Switch to Us
  • Now Renting
    • Properties For Lease
  • Blog
  • Search 🔍
We provide expert property management in Newcastle and Lake Macquarie.  Based in Charlestown NSW, we have been delighting property investors with our personal, professional service since 2011. If you find this article helpful or enjoyable, please subscribe or share it with someone else who may benefit.

How Do I Prepare to Rent My Property Out?

7/8/2017

0 Comments

 
broken white picket fence - carnelian property management newcastle
So you've got an investment property you'd like to rent out or are considering putting your own home up for rent? Fantastic! But before putting your property on the rental market, there are a number of recommendations and regulations you need to be aware of. 

Read more for the video summary and full article. 

Repair anything which is broken around the property

If you have been living in the home, chances are there are some things you've put off to fix later. The old "we'll get to that one day" phrase may have been uttered and you've carried on living with or ignoring the matter. As an owner living in the home, this is fine. But a tenant should not be expected to put up with these things, especially if they relate to safety, and making those final improvements before you rent can not only make your property more appealing at inspection time, it can assist in maximising the rent you'll get. 

The time to fix anything that's broken or not functioning is prior to when you list your house for rent. This could include fixing uneven pathways, ensuring all stormwater drainage is working effectively, fixing a dripping tap and ensuring fences are solid. 

Fix uneven pathways around the home

Uneven pathways could be a tripping hazard for your new tenants, especially if elderly or if they have children. You may have become accustomed to the ups and downs of where to walk, but your new tenants and their visitors have not. Cracked and uneven pathways can also diminish the perceived value of the property, decreasing the rental return you may expect. 

Ensure drainage around the property is working effectively

We've seen several instances of stormwater drainage not working as it should at an investment property. Not only can this cause hassles for the tenant, their property as well as yours may become damaged in the event of water not adequately draining, leading to insurance claims and other complexities. We've even seen a backyard with a drain grate installed, draining through a pipe several metres before the pipe simply ends underneath soil. In heavy rain this caused major problems, needed repairs which also required several days of access to the property, inconveniencing the tenant. Always ensure gutters around the home are free of leaves and blockage also. 

Fix dripping taps before tenants move in

Dripping taps of course should be addressed, not only to prevent the inevitable complaint from your tenants within days of them moving in, but also to save water and of course money. Dripping taps can be very costly in the long run. Consider also that a single dripping tap can send a message to the tenant (especially a new or uncertain tenant) that a dripping tap is just something to live with while they're renting. And so the costly problem continues...

Mend broken fences around the property

Fences surrounding the property should be mended if broken. Not only can a fully secure yard increase the rental value of the property, this can ensure the safety of your tenants, especially those with young children.

New investors sometimes become relaxed about the state of a deteriorated fence, believing that if there are no pets next door, it's not a problem. However, your neighbours may move out and new neighbours with an excited animal may inhabit their backyard - something you're not likely to be as aware of if you're no longer living at the property. After all, you can't control what happens in the neighbour's yard, but you can limit how this impacts your property and tenants. 

Ensure your rental property complies with safety regulations

Landlords are responsible for ensuring their rental property complies with current safety regulations and guidelines. Compliance includes (but is not limited to) aspects such as:
  • Smoke alarms - these must be fitted correctly and tested regularly in accordance with the Residential Tenancies Act
  • Pool fences - among other regulations, pools and spa areas must adhere to current pool fencing requirements and have received a valid certificate of compliance 
  • Security and windows - landlords must provide and maintain locks or security devices to ensure that the premises are secure. Child safety window locks may also be required to ensure compliance
  • Blinds and curtains - there are mandatory blind and curtain cord requirements to ensure babies and young children are safe. Your rental property must comply with these

If you are at all unsure of your responsibilities before renting out your property, speak with an experienced property manager. 

Service fixtures such as air conditioning

Before renting the property out, you should service fixtures such as air conditioning. This not only ensures that the air conditioning unit is clean and working as it should for your new tenants, it gives you peace of mind of the full working condition you are leaving the property in. 

Pest treatment and professional cleaning of the rental property

It is strongly recommended that you complete a pest inspection and treatment of your home before it is rented to tenants. Again, this provides you peace of mind that you're handing the keys over with the property in tip-top condition, and providing your new tenants with a comfortable start to their tenancy. 

Additionally, we always recommend that the property be professionally cleaned before it is rented out. Given that you expect the property to be handed back to you in great condition, as close as possible to the way it was when first rented out, you want to set the benchmark of expected cleanliness very high from the day the tenants move in. The cleanliness of the home will be documented in the ingoing inspection report, including detailed photos, so aim very high at this point!

Carefully consider what to leave behind at a rental property

When preparing your home for cleaning, give special thought to anything you may leave behind. We've had landlords move interstate and internationally, and wish to leave behind items such as fridges, furniture and gardening equipment. This is fine, as long as it is clearly communicated to prospective tenants that these are inclusions and not burdens, and the items are in perfect working order. Such inclusions may add rental value and desirability. 

Be careful however to not leave things behind simply because you don't want to take them with you or deal with their disposal. For example, hardware such wood planks, old storage containers, or undesired furniture can devalue a property and be a turn-off for prospective tenants. 

Get your depreciation report done before tenants move in

A depreciation report should be completed before the tenants move in, as access is much easier to arrange before the property is occupied. This report is of course vital to assisting in minimising your tax obligations. 

Arrange landlords insurance for the rental property

Landlord insurance must be secured for the property. It is likely your tenant will arrange their own contents insurance, however you must remember to let your insurer know that you are no longer living in the property (if you previously lived there with home and contents insurance in place) and that you wish to arrange landlords insurance. 

An experienced property manager will guide you and make the process hassle free

In summary, there is a lot to think about when preparing an investment property to rent out.  Of course, an experienced property manager will guide you in these matters and assist in applying expertise to ensure the process is smooth and hassle free for you.

If you are preparing your investment property for the rental market now, give us a call. We'd be happy to help streamline the process for you. ​​​​​
We provide expert property management in Newcastle and Lake Macquarie.  Based in Charlestown NSW, we have been delighting property investors with our personal, professional service since 2011. If you found this article helpful or enjoyable, please subscribe or share it with someone else who may benefit.
0 Comments

Your comment will be posted after it is approved.


Leave a Reply.

    Carnelian Property Management Newcastle NSW

    We are a family-owned and run Charlestown real estate agent offering expert property management across Newcastle and Lake Macquarie. 
    ​Get to know us here.


    Want More?

    Build your property management knowledge - get regular tips and advice for landlords and tenants straight to your inbox.
    Subscribe

    Categories

    All
    Adverse Possession
    Advertising
    Choosing An Agent
    COVID 19
    COVID-19
    Finance
    Furnished
    Insurance
    Investment Property
    Lake Macquarie Life
    Landlord Responsibilities
    Lease Terms
    Negative Gearing
    Newcastle Life
    Newcastle Property Management
    Pets
    Positive Gearing
    Preparing A Rental Property
    Property Management Costs
    Property Management Statistics
    Rental Appraisal
    Rental Yield
    Rent Review
    Research
    Routine Inspections
    Saving Money
    Suburb Profiles
    Tenant Responsibilities


    Archives

    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017


    RSS Feed

Carnelian Property Management
1A Chapman St Charlestown NSW 2290
​ph: 02 4062 7458 (tenant / general enquiries)
m: 0407 065 126 (investor enquiries)
Facebook - Property Management in Newcastle - Carnelian Property Management
Instagram - Property Management in Newcastle - Carnelian Property Management
COVID-safe - Property Management in Newcastle - Carnelian Property Management
Subscribe to Email
​Request a Rental Appraisal
Rental Application Form
Lost Keys / Locked Out Policy
​Cleaning Checklist
Submit Maintenance Request
​Tenant Portal
​Investor Portal

Copyright © 2021 Carnelian Property Management in Newcastle NSW | ABN 18 624 074 077. Privacy Policy | Complaint Procedure
COVID-safe - Property Management in Newcastle - Carnelian Property Management
Facebook - Property Management in Newcastle - Carnelian Property Management
Instagram - Property Management in Newcastle - Carnelian Property Management
Subscribe to email
Request a rental appraisal
Rental application form
Lost Keys / Locked Out Policy
Cleaning checklist
Submit Maintenance Request
Tenant Portal
Investor Portal
Carnelian Property Management
1A Chapman St Charlestown NSW 2290
​ph: 02 4062 7458 (tenant / general enquiries)
m: 0407 065 126 (investor enquiries)
Submit maintenance request

​Copyright © 2021 Carnelian Property Management in Newcastle NSW
​ABN
18 624 074 077
Complaint Procedure
Privacy Policy
  • Home
  • Contact
  • About
    • New To Renting Your Property?
    • Info For Experienced Investors
    • About The Team
    • What We Do
    • Testimonials
  • Rental Appraisal
  • Switch to Us
  • Now Renting
    • Properties For Lease
  • Blog
  • Search 🔍