The review of the Residential Tenancies and Rooming Accommodation Act (RTRA Act) began 30 September and will run until 30 November of this year.
Taking photographs of a property rental for an inspection means more than just making sure you’re taking clear, well-lit photos of every area of the property. In fact, there are laws a property manager must follow, particularly when the property rental includes the tenant’s personal possessions. Here’s how you can be thorough while still following the best practice according to state legislation.
A reduced electric bill is always a great thing to receive, but saving energy can also help the environment and who doesn’t want that, too? Whether you’re a landlord/property manager or a tenant, you’ll want to make note of these practical and easy tips when using electrical appliances and gadgets at your property rental.
Ready to remodel? Renovating your property investment has plenty of long term benefits. You maximise the value of your property, make it more appealing to your target market and this increases rental returns of the property.
Short-term letting is a growing trend and usually comes in the form of letting homes as vacation rentals via short-term letting companies, such as Airbnb. A major headache for property managers and investors is unauthorised lets from tenants.
Congratulations! You are now a property investor! You’re probably thinking of how soon you can secure a tenant for your property, what rent will you achieve and how to make your property as attractive as possible. It’s all very exciting, but there are some important things to go over to be a good property owner.
Older adults, such as seniors and retirees, can make some of the best tenants for your property investment. There are some special considerations to take when setting up your property rental for older tenants, but the outcome is ultimately ideal. It would also give you an edge over other Landlords/Property Investors and Managers who are more keen on attracting younger tenants.
Don’t be a negligent Landlord/Property Manager and make sure your entry and exit inspection reports are as comprehensive as possible. The Residential Tenancies and Rooming Accommodation Act indicates these reports as essential in compliance with legislative requirements, but they can also be a valuable risk management tool for any disputes that may arise regarding the condition of your property.
Whether you’re a tenant or a Landlord/Property Manager, it’s important to make sure your rental property is up to par when the tenancy ends. For tenants, restoring the property to its original (or even better) condition can make for a stress-free move, particularly when it comes to recovering your bond. For landlords, a clean and presentable rental shows the next potential tenants that you value your property investment so they’re expected to do the same.
Ideally, you would never have to put an early end to a tenancy. However, there are situations that call for such response. To avoid these sort of situations, it’s advisable to be clear and communicate with your tenant. Provide timelines, keep a paper trail, and make them aware of the process of breach in agreement is before they sign the lease. Another way to avoid an early or unexpected termination of a tenancy is to secure the kind of tenants you want in the first place.