#DIY #Property Management – What are the fundamentals?

1.To be able to advertise the rental property on all the best 4 rent websites like Realestate and Domain

2.Tenant Screening and the most important criteria for good tenants is sufficient income, decent credit and good rental history.

3.Check references and run a Credit Report (Bad tenant database checks) on all prospects regardless of how they come across in person.

4.Moving in Inspection Report- Must be conducted to prove if a tenant causes damage. Keep all receipts for repairs, and photos of the property when they moved in.

5. Raise invoices and receipts which is a legal requirement with the rent paid to date on it

6.Make tenants aware of your rules-make sure tenants have copies of the Rules or easy access to them (website)

7.Have good communications with your tenants, but don’t become their friends.

8.Deal with tenant’s complaints swiftly to avoid escalation and/or frustration.

9.Have a system for tenants to report repairs (Realrenta.com.au)

10.Have a ready network of tradesman and vendors for any repair and maintenance.

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Jason Gwerder
Monday, 27 July 2020

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