Owners Tips & Guides
Preparing your property
My Realty Plus will strive to achieve optimum rental return for your property. While there will always be governing factors as to rental return, such as general market conditions, demand of rental properties, similar property availability, and neighbouring properties, rental return is also relative to the condition of the property.
A well-cared for property from the onset will always attract more interest than a property that has been neglected. It is also about ensuring the right tenant is attracted to your property. A bad first impression may steer away the type of tenant you are seeking.
Attracting the right tenant for your property:
- The team at My Realty Plus is able to offer you a cleaning and maintenance guide to help get your property is top condition for leasing.
- The team at My Realty Plus is able to offer you contact details of trustworthy garden maintenance contractors to provide you with an aesthetically appealing lawn and garden.
- Your property is required to meet minimum security standards as set out by the Residential Tenancies Regulations 1989. The team at My Realty Plus is able to assist you with this requirement.
- Your property is required to comply with Buildings Regulations 2012 for Smoke Alarms and Residual Currency Devices (RCD’S). The team at My Realty Plus is able to assist you with this requirement, or visit http://www.dfes.wa.gov.au/.
Other Property Owner to dos:
- All locks are required to have keys. You will need to supply two sets of keys for each lock to My Realty Plus.
- If you have been living in the property yourself, you will need to contact your utility suppliers such as phone, electricity and gas to cancel/re-direct your services.
- Council rates and water rates are to remain in your name, however, you will need to redirect them to your new address, or to My Realty Plus for payment should you wish – this is to be stated in the agreement with My Realty Plus.
- All other mail required redirecting to your new address if you have been living in the property yourself.
- Should your property be fitted with appliances such as air-conditioning units, dish washer, alarm system, etc, appliance manuals should be left in the property for tenant use. Doing so will help ensure care for the items.
Whether to furnish a property or not is entirely your decision, and most usually made by owners based on need.
While a furnished property should attract higher rent, it may also take longer to rent out as typically most tenants don’t require furniture.
If you need to leave furniture in the property, please do so. All furniture items are included in the Ingoing Property Condition Report with multiple photos taken of each item.
If you are considering buying furniture for the property to attract higher rent, please speak to the team at My Realty Plus first to ascertain monetary benefits.
Landlord Protection Insurance
Landlord Protection Insurance is optional. It is used to cover loss of rent and damage to the property caused by the tenant.
While My Realty Plus is a professional and experienced agent, and will do everything we can using the resources at our disposal to find you the right tenant, we cannot guarantee your tenant will continuously pay rent or not damage the property. Unfortunately, people’s circumstances change in life, and so too does behaviour.
There is always an element of risk involved in owning an investment property, or portfolio of properties, and as such, it is a good idea to protect the risk.
Should you choose to take out a policy for Landlord Protection Insurance, please take note of what it does and does not cover, and any excess costs that may be applicable if a claim is lodged.
Pets in your property
Allowing pets in a rental property, or not, is an owner’s choice.
Pets are a common part of life and many people enjoy the pleasure pets bring to them. There are more rental properties on the market that do not allow pets, than those that do allow pets. Subsequently, if you do not mind pets in you rental property, there may be a higher chance of renting out your property faster.
Another advantage of allowing pets in a rental property, is that due to the difficulty of finding a rental property that allows pets, once a tenant has found a suitable property, they tend to stay longer to avoid the hassle of finding another pet friendly property.
Should you choose to allow pets in your rental property, you can be rest assured there will be terms and conditions listed in the tenant’s lease. These terms and conditions may be devised in consultation with yourself. There is also a pet bond charged of $260.