When you are preparing your home for rent there are a number of items to consider. How the property is prepared will have a direct affect on the quality of tenant that is attracted to the property, the time it takes to rent the property, and the overall return that is received from the investment. 1. Legal Requirements The first items that must be attended to are those that are required by law. There are now a number of items surrounding compliance of a property that must be arranged prior to a tenant signing a lease. These include Pool fences Smoke alarms Gas certificates Safety switches Blind cords Each of these items have specific legislation outlining what is required PRIOR to a tenant signing a lease. A good property manager will ensure these areas are attended to before a tenant is found in order to avoid any unnecessary vacancy time. 2. Presentation It is then important to consider the overall presentation of the home, inside and out. Are gardens neat and tidy and free from weeds? When was the last time the gutters and outside path areas were cleaned? Is the fencing secure with no loose palings? Providing a property with a fresh coat of paint always gives it an instant lift and fresh look. Presentation of the home also goes further than just the quality of the walls and carpets. Ensuring the property provides items to allow tenants to be comfortable whilst living there means you can attract better quality tenants and they will tend to stay longer. Tenants will often be searching for a home that has the following attributes; Security screens or fly screens Ceiling fans or air conditioning Dishwasher Good quality window coverings Off street parking for cars If you present a home that appears to be well cared for and maintained inside and out you will always attract better quality tenants that are happy to pay top market rent. 3. Rent Inclusions For this, each property will be different, but consider what is going to make the property most attractive to prospective tenants. Factoring pool and garden maintenance into a weekly rent means that you have the peace of mind knowing they will be maintained on a regular basis, and tenants like that it is one less thing to worry about. You might also consider including electricity and a certain amount of water in the rent. Finally, please remember that any appliances left behind must remain in good working order. You can’t leave the fridge and washing machine behind because you don’t want to take them with you, but then tell the tenants if they break it you won’t fix it. If you do not want to have the hassle of having to repair appliances, take them with you. On the other hand, remember that some appliances can be very attractive to prospective tenants so if you’re happy to pay for repairs, consider leaving items such as dishwashers and air-conditioners. 4. Maintenance If you have been residing in the home there may be items you have learnt to ‘live’ with: a door that doesn’t close, and a lock that never locked. However, it is very important that any maintenance items you are aware of are attended to prior to renting the home. This also includes any areas that may be a safety concern. Ensure there are no trip or fall hazards, all decking and stair areas are secured and that items such as power points and light switches are in good repair. Allowing a tenant to move into a property that has had all maintenance issues attended to PRIOR to the commencement of a tenancy ensures that the move in transition is smooth and less costly to the owner. Ensuring that your home is presented at its absolute best inside and out will not only achieve a better weekly rent, and attract a better tenant, it will also help ensure the whole rental process is simple and easy from start to finish. A good managing agent will help you coordinate all required items prior to a tenant being secured. by Dot Hamilton How to Attract the Best Possible Tenant to Your Investment Property palmbeachfn.com.au December 2016 First National Palm Beach 15 Palm Beach Ave Palm Beach, Queensland 4221 Phone: 07 5559 9600