Use this handy checklist to help you with your next rental property inspection.
As a landlord, you’re ultimately responsible for the upkeep and condition of your property, even when you’re renting it out.
Breach a Tenant’s Right to Quiet Enjoyment, Show Up Unexpectedly, Ignore State and Local Law, Give a Vague Notice
Maybe you’re suspicious one of your tenants is breaking the lease’s pet policy. Maybe you just haven’t checked in with them for a while.
Here are a few do's and don’ts to keep in mind when performing a rental property inspection.
Rental property inspections come in several types, including Move-in inspections, Quarterly inspections, Drive-by inspections, and Move-out inspections
What are they? A rental property inspection can be performed by the owner, tenant, or both whenever they move in or out of the property
When you make the decision to become a landlord, there are a number of ways to minimise your risks
Understanding what separates repair or maintenance work from an improvement requires asking yourself the right questions prior to starting
No doubt, remodeling a space is a sure-fire way to attract a rental crowd and increase its value to potential tenants.
Ultimately, maintenance claims can include any type of work done to the property that prevents it (or a part of it) from deteriorating or eventually becoming broken or unusable.
The Australian Taxation Office stipulates that a rental owner is entitled to claim the costs of any type of work done to an investment property, provided that the expense ultimately contributes towards its overall maintenance and repair.
The fresh smell, the clean slate, the low maintenance - are just some of the reasons why buying a brand new house or unit is enticing. However, that doesn’t mean it is a smart decision.
Short term lets – more vacancy, more costs
Tenants love them and they can really add value so try and get as many of these in your property.
I own lots of Pet-friendly accommodation
This one is a little bit counterintuitive but it means you will have much better inquiries
Professional photos advertising your property, feature property status putting them on page 1 of the most dominant portals
Rents need to increase to keep up with inflation
Every insurance policy is different and you have to look at what is coved and what is not
Do not wait until it is too late. While it seems odd to delay issuing a breach notice, it is common in a downturned property market where rents are decreasing
Tribunals have been known to completely reject a landlord’s claim in court simply because the notice wasn’t served correctly.
But, what happens when they break the rules on the lease and how does it impact your insurance?
If you think it’s harder to rent out your property than ever before, you’re not imagining it. - Choose the right way to rent your property
If you think it’s harder to rent out your property than ever before, you’re not imagining it. - Listen to constructive feedback
If you think it’s harder to rent out your property than ever before, you’re not imagining it. - Pivot your target market
If you think it’s harder to rent out your property than ever before, you’re not imagining it -Invest in stronger marketing
If you think it’s harder to rent out your property than ever before, you’re not imagining it. - Renovate the property while it’s vacant
Ending a Rental Agreement - Reasonable and proportionate test for VCAT - Claiming bond - Notice to vacate for endangering safety
During a rental agreement - Modifications - Urgent repairs - Inspections and rights of entry - Electrical and gas safety
Moving in - Rental minimum standards - Keys and security
Before you sign a lease
Whether you’re a renter or rental provider (the “official” new name for a landlord), there are a new set of rental rules that you should understand.
You can’t have successful property investment without tenants but too many landlords pay scant regard to their tenants – to their financial detriment.
12 KEY TIPS
Children drawing on walls or sticking gum in lifts is enough to raise the ire of any tenant.
Smoking in enclosed areas of the common area of common property is prohibited by law under theTobacco and Other Smoking Products Act 1998
It isn’t uncommon for strong cooking odours to waft through mechanical ventilation systems and impact larger areas.
Most body corporates have a by-law that states a unit can’t be used for immoral or improper purposes.
Excessive noise is always an issue and isn’t just restricted to the unit dwelling
The issue of animals being kept in unit dwellings has long been an emotive topic that has generated heated debate among both tenants and the wider community.
It’s the body corporate’s responsibility to maintain the building and ensure the upkeep of common areas.
Tenants parking in the visitor bays, tenants parking in the wrong bays
The quality of landscaping in common areas, as well as the style and type of plants used, can result in tenant complaints.
Children running amok in a unit complex are bound to attract the attention of other tenants.
Residents of NSW apartments are another step closer towards being allowed to legally keep a pet with the passing of a crucial law in parliament last week.
A written lease is very important. You need the right rental agreement for your situation and state
Rent reality
External features
Security matters
Allowing pets
It’s no secret that the rental market in some parts of the country is sluggish. Renovation
Australian Capital Territory and Northern Territory
South Australia and Tasmania
Queensland and Western Australia
New South Wales and Victoria
Every landlord will eventually face a situation in which they need to evict a tenant.
It’s one of the worst nightmares for landlords – a tenant who hasn’t paid rent for weeks and won’t vacate the property.
Tenants always think their rent is too high and of course, landlords want to take to maximise their investment returns.
Occasionally you will be contacted by your tenant or property manager advising that you are going to have to repair an item in your rental property
While you may feel like checking on how your tenant is looking after your property, you can’t just pop in whenever you feel like it.
During a residential tenancy, landlords have a number of responsibilities to their tenants, which are enshrined in the relevant legislation.
When it comes to utility and services charges, there are varying rules around this across the country so it’s important to check your relevant state authority.
As the landlord, you have the right to request rent on a weekly, fortnightly, or monthly basis
Rental bonds are paid by tenants at the start of their tenancy and are a goodwill payment held in trust by the specific state government rental authority
How do you choose a tenant?
What can RealRenta do for you?
Making friends gives us a warm, fuzzy feeling right?
To maximise the return on your investment, it is essential to keep on top of where the rental market is heading
One way to make sure you get the best tenant to look after your asset, whilst at the same time ensuring it retains its long-term value
I’m sure you’ve heard it said that you should treat your property investments like a business.
Over many years in the industry, I’ve come across plenty of Bad property managers and that is why I built RealRenta
Aside from the time frame, there are subtle differences between the three different types of tenancy agreements
What’s the deal with landlord insurance and rental bonds?
What happens if there is disagreement about the refund of the bond?
When can a landlord claim against the bond?
When is the bond released? And to whom?
What happens if a co-tenant moves out?
Who holds the bond?
Who collects the bond?
Who pays the rental bond? Whose money is it?
How much is the bond?
This is what you need to know about the bonds that tie tenants to landlords… and what it has to do with landlord insurance.
When an Owner or Tenant Complains
TYPES OF CONTRAVENTION NOTICES
Ensuring that your tenants are happy - How are By-Laws Enforced?
Ensuring that your tenants are happy - How to Resolve a Dispute
Ensuring that your tenants are happy - Difficulty reaching you (or your property manager)
Ensuring that your tenants are happy - Pests and cockroaches
Ensuring that your tenants are happy - Lack of privacy
Ensuring that your tenants are happy - Damage to common areas
Ensuring that your tenants are happy - Smoking
Ensuring that your tenants are happy - Odours
Ensuring that your tenants are happy - Noise
Maintenance and upkeep
Ensuring that your tenants are happy - Parking
Ensuring that your tenants are happy - Animals
Landscaping
Investors think that the hardest part of becoming an investor is searching for and finding the right investment property. Common tenant complaints - Children
RealRenta automates the whole process of managing your tenants - at a fraction of what property managers charge
The consumer watchdog is warning of an increase in rental and accommodation scams, with more than $300,000 lost to fraudulent activities this year alone.
POOR (OR NO) MAINTENANCE
NO, FOLLOW THROUGH
CONSISTENTLY LATE REPORTS
LACK OF COMMUNICATION
It’s a truth universally acknowledged that you can’t have a successful property investment without tenants paying you rent regularly. - COMPLIANCE ISSUES
The top concerns investors have when they’re engaging a Property Manager. From security checks to inexperience, here are the worries landlords have and how you can alleviate them.
With the gorgeous spring weather on its way, many of us will be motivated to do a bit of a tidy up.
Claim on Insurance - The good news is if you have followed everything above you should not have any problems claiming insurance on everything (well most things).
Loss of rent and other compensation - If the tenant has not paid any rent since serving the eviction notice you are most likely down about 8 weeks rent in total. - So let’s get your money back!
Police lockout - If the tenants still don’t move out you can apply for a Warrant of Possession.
Tribunal hearing day - If you have prepared everything this will be a breeze.
Prepare for Tribunal - Preparation is key.
Apply to tribunal - If you have done everything from the last blogs, it’s rare you’ll need to go to Tribunal. On average when managing 100 properties you would go to the tribunal once a year.
Termination notice - Regardless of their excuses the day they fall over 14 days behind in rent is when you need to give them a termination notice.
Although most states are similar in nature this section, in particular, is specific to Victoria but other states are also coved.
Consistent late payers - In Victoria, you can only give your tenant a termination notice if they are over 14 days behind in rent. (Other states Breach notice after 7 days and a notice to leave after 14 days)
Repayment plans - I don’t like repayment plans but they do show the tenant you care. It also helps to demonstrate to the tribunal and to your landlord insurance company you have tried to minimise the loss of rent
Document conversations - You need to document all these conversations because you might need to refer back to them if you have to go to Tribunal or make an insurance claim later on.
Be objective - When you’re speaking with your tenant you need to leave your personal feelings out of it.
Good communication - As a guide, you should call your tenant when they are 3 days in arrears (late) and then call again every 2nd day after that.
If you have done everything in the last tips you have put yourself in a great position for a nice uneventful tenancy - Send late notifications if they’re behind
Get landlord insurance - How does getting landlord insurance reduce the chances of your tenant paying late you ask?
Keep up with repairs & maintenance - One of the main reasons a conflict will start between a landlord and the tenant is because repairs of the property are not carried out in a reasonable timeframe
Regular inspections
Keep proper records of rent collection
Direct Debit and BPay rent payments
Set the tone with the right documents - In Property Management that it’s far more efficient to spend a little extra time to avoid problems rather than wait and deal with them if they come up.
Find the ‘right’ tenant - In Property Management it’s far more efficient to spend a bit of extra time to avoid problems rather than wait and deal with them if they come up – because they will.
As a property investor, it’s your job to maximise the return of your assets. One way to do this is to maximise your rent. - Mod cons
As a property investor, it’s your job to maximise the return of your assets. One way to do this is to maximise your rent. - Set a rent at 95% of the market - Consider Pets
As a property investor, it’s your job to maximise the return of your assets. One way to do this is to maximise your rent. - A good tenant - Some Don’ts
As a property investor, it’s your job to maximise the return of your assets. One way to do this is to maximise your rent. - Longer leases - Minimise vacancies
As a property investor, it’s your job to maximise the return of your assets. One way to do this is to maximise your rent. - Refresh - Include garden maintenance
How do you give a listing everything it needs to make sure you attract quality tenants? Use this guide to get the most out of your next rental listing. - Don’t forget the essentials. - Keep your local area in mind
How do you give a listing everything it needs to make sure you attract quality tenants? Use this guide to get the most out of your next rental listing. - Lead with a compelling headline. - Avoid using too many clichés
How do you give a listing everything it needs to make sure you attract quality tenants? Use this guide to get the most out of your next rental listing. - Stop trying to look like everyone else
How do you give a listing everything it needs to make sure you attract quality tenants? Use this guide to get the most out of your next rental listing. - Be generous and provide extra photos. - The quality of your photos is key
How do you give a listing everything it needs to make sure you attract quality tenants? Use this guide to get the most out of your next rental listing - Show off your best features
Some investors believe that increasing cash flow is the best option for the long term, sustainable wealth
Australia certainly stands out as an animal-loving nation with some of the highest rates of pet ownership in the world. What is the landlord’s legal responsibilities?
Do you know that over 60% of Australian households own a pet? Now what’s also interesting is that many landlords and managing agents to have a ‘no pets’ policy on rental tenancies.
The NSW state government has abolished stamp duty for new homes under $800,000, in a bid to support first home buyers and the construction industry.
Not using an accountant who understands property - Compared to two decades ago, property investment today is a profession in its own right
Not increasing the rent regularly - Then renting an investment property the Holy Grail is having long-term tenants
Not having a depreciation schedule - Some landlords incorrectly believe that depreciation is only claimable on a new property
One of the most important of them all is using property management platforms to do the heavy lifting for you and help you with all your property management needs. * Not having insurance * Not treating property investment as a business
One of the most important of them all is using property management platforms to do the heavy lifting for you and help you with all your property management needs. * Not keeping your distance from tenants
One of the most important of them all is using property management platforms to do the heavy lifting for you and help you with all your property management needs. * Not having fixed-term leases
One of the most important of them all is using property management platforms to do the heavy lifting for you and help you with all your property management needs. * Not budgeting for maintenance
One of the most important of them all is using property management platforms to do the heavy lifting for you and help you with all your property management needs. * Not considering vacancy rates * Not knowing the market rent
Setting the right rental price is crucial to make sure you get the right types of tenants
Rent your investment property quicker by placing your ad on RealRenta.com.au.
Going to a rental or tenancy tribunal to argue your side of a rental debate can be quite nerve-wracking
Landlords should consider insurance policies that protect their investment property in the case of home emergencies.
When applying for rental properties, tenants have two options for the lease agreement: Co-Tenancy or Sub-Tenancy.
In Australia, the 2 main tenancy screening services
Insurers are moving to adjust their landlord insurance products to allow holders to claim rental default benefits from their cover without the need for an eviction notice to be served to the tenants.
Queensland’s protections for renters were some of the strongest in the country
The Victorian government announced a $500 million plan for tenants and landlords across the state on April 15
NSW was one of the first states to act
Legally speaking, landlords must provide locks to secure all external doors and windows of their premises.
For landlords, an audit trail is invaluable.
If your investment property needs repairs, follow the steps under the Tenancies Act in your respective State or Territory.
Tenants have access to their own system in RealRenta
How does the Free Trial Period work?
WA plans to introduce a six-month moratorium on evicting residential tenants among a raft of measures aimed at limiting the financial upheaval caused by coronavirus.
Many insurers have stopped selling landlord insurance.
announced a temporary ban on evictions and rent increases for six months and offered land tax relief for landlords who offered rent reductions
Rent increase ban
There is a culture in lots of different industries of adding sneaky fees to the structure of agreements and property management is no exception.
As a landlord, you have the right to set the weekly rent on your property, and the market will determine if anyone is willing to pay that price
Before renting your residential property to a tenant, you (the landlord) will need to sign an acknowledgement on the residential tenancy agreement.
The NSW State Government is allocating $220 million to residential renters and landlords
Become a RealRenta Landlord now an get 25% off!!
Landlords have received welcome news, with the Minister for Housing confirming there is no rental freeze during the moratorium.
Late rental payments, disrupt cash flow and can be a very frustrating experience for landlords.
In Australia, landlords have a number of legal responsibilities to their tenants.
New rental reforms have been introduced into the ACT Legislative Assembly
More and more investors are seeing rooming houses as great ways to increase their rental yield.
This guide from the ATO explains how to treat rental income and expenses
Did you know that over 60% of Australian households own a pet?
Here are some quick tips from RealRenta, to increase your rental yield
One of the best ways to keep tenants happy and renting your property long term is to do repairs and maintenance in a timely manner.
Online Property Management Software is becoming the best way to manage your rental property.
As a landlord, you should know what your tenants worry about.
An increasing number of ordinary, everyday people are becoming landlords across all parts of Australia. Property investment in our country is by far one of the most popular and secure ways to make a profitable return.
Property Management companies benefit from quick tenant turnover, as each new tenant means additional fees for them. Property Management companies, rarely work in the interest of the tenants, nor in the landlords’ best interest.
The purpose of an inspection is to ensure that the tenant is taking reasonable care of the premises, keeping it clean and ensuring that, it remains in the same condition, as it was at the start of the lease.
When it comes to managing your investment property to ensure you get the best possible returns, nothing beats getting the best tips from people that have done it before you.
Having Tenants is the lifeblood of Property Investment and mitigating the loss of rent is paramount to ensure your investment performs well.
These questions can help you screen tenants before taking the time to check up on references
It’s all good when there are buckets of tenants interested in your properties, however what do you do when you have properties that need filling with not one prospect in sight?
A must watch for every rental property owner
It is a landlord’s obligation to make sure their tenants are living in a property where everything works. Sometimes it can be hard to differentiate between urgent and non urgent repairs and can easily, lead to misunderstandings in the tenant/landlord relationship
In 2013 a Victorian Coroner warned that landlords should check gas heaters every 2 years, after 2 children died in a tragic gas leak accident. There aren’t many laws regarding fireplaces and chimneys but landlords are expected to keep their properties in a decent state of repair.
There are several states in Australia at the moment, experiencing some weakness in the rental market, due to oversupply and other economic factors. Some vacant properties in these areas are renting for lower prices with some tenants insisting on lower rents when renewing their leases.
Inspections are a good opportunity to avoid problems, before they become bigger problems and most tenants will cooperate and understand that it is also, an opportunity for them to have things repaired.
All you need is a smart phone with a good camera and at least 70% battery before you start filming. Once you have finished filming, you can upload the video to the RealRenta platform. Here are our tips for filming:
The ATO has issued several warnings recently to investors about claiming deductions on rental properties. Common errors highlighted by the ATO include claiming deductions for
It is important that landlords understand their rights and responsibilities, when it comes to the final property inspection in a tenancy. Landlords are entitled to have their property returned to them in a clean and undamaged condition, at the end of a tenancy.
Some of the biggest expenses, investors face when they invest in property are the property management fees. Well not for RealRenta Landlords!
The Victorian Government has introduced new legislation to make Airbnb landlords pay their neighbours compensation of up to $2,000, for property damage caused by guests.
Need help and support or simply want to get in touch with RealRenta.com.au? There are many ways to contact the team. Simply choose the right option for you.
RealRenta Landlords
RealRenta cuts the expensive middle-men right out of the property management equation. RealRenta does everything they do- at a quarter of what they charge. A cloud-based platform that you can run from your phone, laptop or tablet. What else does RealRenta do?
I relied on my property manager to take care of my investment property but the agent’s ineffective approach ended up costing me dearly.
Any landlord who’s had their property awhile knows there is plenty that can go wrong with an investment property.
A landlord has revealed to some key things property managers do wrong
When buying an investment property, you need to know that there are more costs then just your mortgage repayments
It’s impossible to be a property investor without tenants as they help pay your mortgage.
Finding the right tenant is crucial to the success of your business as an investment property owner and knowing how to do this can be tricky.
The three steps you need to deal with problematic tenants
An investment property can be an attractive financial proposition, but finding the perfect tenant is a crucial part. A good tenant will be profitable for the landlord, whereas a bad tenant can be costly for everyone.
Making the right choice of tenant for your rental property is very imported.
With rent increases in Australia’s capital cities experiencing their slowest growth rate in nearly 20 years and residential vacancies continuing to surge, there’s no denying tenants are in the driving seat at the moment.
One of the most common issues among investors is bad property management.
Air BNB makes it possible for your tenant to make extra income whilst you bear all the risk!
Rather than just sitting and waiting for the market to go up, why not make simple improvements to your properties that will have your tenants happily paying more rent.
Buying your first investment property can be both exciting and daunting.
12 KEY TIPS!!
A must watch for every rental property owner, how property managers come up with their fees
Having Tenants is the life blood of Property Investment and mitigating the loss of rent is paramount to ensure your investment performs well.
Not Having a Lease Agreement Not Filling in a Condition Report Not Understanding Tenancy Laws Not Doing Proper Checks on Tenant Applications Not Asking for a Bond
