Everything You Need To Know About Renting Your Property
Whether you’ve purchased your sixth investment property or you’re turning the family home into a rental to supplement your income, you deserve a property manager who recognises the value of your property and is committed to managing it professionally. At Spectrum Estate Agents, we’re dedicated to providing both landlords and tenants with top-notch service. We’re renowned for our premium property management in Jindalee, Sinnamon Park, Middle Park, and the surrounding Brisbane suburbs. We’ve put together a short guide on everything you need to know about renting your property and keeping your tenants happy.
How To Pick The Right Property Manager
Your investment property is one of your most valuable assets, so you’ll want to know you’ve hired the right property management in Sinnamon Park, Jindalee, Middle Park, or any other west Brisbane suburb. Here are a few things to look for in your property manager.
- They respect your tenants. If you can secure good, long-term tenants, you’ll be able to rely on consistent income through your rental property. However, some property managers just don’t care about tenants, and they often ignore their communications and maintenance requests or treat them disrespectfully. This behaviour deters high-quality tenants from renting your property and creates high tenant turnover. Make sure you find a property manager with glowing reviews from landlords and tenants alike.
- Consistent communication. A good property manager will keep you up-to-date on the condition of your property and feedback from your tenants. They’ll fill you in on the good news and the bad news, and they’ll provide you with both reports and photos from their regular inspections.
- Look for low vacancy rates. A property management team with low vacancy rates are doing something right! They know how to market properties and get them leased efficiently.
- They’ll always be looking to help you improve your property. Unfortunately, while most property managers do routine inspections, they sometimes don’t use the information they’ve gathered from the reports and the tenants to help landlords improve their property. At Spectrum Estate Agency, we understand your property is important and that tenants enjoy living in well-kept, comfortable homes, so it’s in both parties best interest for us to pass on suggestions for overall improvements.
How To Prepare Your Property For Tenants
The trick to getting high-quality long-term tenants is to make your property as comfortable and appealing as possible. There are a few simple things you can do to spruce up your investment property before your tenants move in.
- Make sure the gardens are looking schmick. Curb appeal is so important to attracting good tenants. Potential tenants are judging your property from the moment they arrive at the inspection, and if your gardens look overgrown or shabby, that will affect their decision to apply. Make sure the lawns are tidy, the gutters are clean, and the garden beds look presentable. If you don’t have a garden, the same rules apply to a courtyard or balcony. It needs to look clean and tidy.
- Organise a pest inspection. You should be organising annual pest inspections to take care of spiders, ants, cockroaches, mice, and any other nasty vermin that might be living on your property free of charge. This is also something that Spectrum can assist you in organising.
- Make sure your fire alarms are up to standard. Queensland has stringent laws around fire alarms, so make sure your property is compliant. If you’re unsure whether you meet the standard, a Spectrum property manager in Middle Park can arrange a professional to come out and take a look for you.
- Organise landlords insurance. You need to make sure your asset is protected, so look into getting comprehensive landlords insurance. It not only covers you if anything should happen to your property, but it also covers loss of income you may incur after troublesome tenants or those who leave unexpectedly.
- Try to see your property through the eyes of a stranger. Walk through your property critically and look for areas that stand out as dated, broken, or dirty. Keep an eye out for mould, stains on the carpets, holes in the flyscreen, or broken blinds and organise to have them cleaned or repaired immediately.
- Add value where you can. You’d be surprised at how much value a fresh coat of paint or brand new light fittings can add to your property. If you’re looking to add value to increase your rental return, ask your property manager for some tips and tricks.
What Are Your Responsibilities As A Landlord?
You might be wondering where your responsibilities end and your property manager’s start. At Spectrum, we want our landlords to feel empowered to take responsibility for their property maintenance, so we’ve listed a few things that you need to do as a landlord.
- Providing a safe, livable property. Your first and primary responsibility is to provide a livable environment for your tenants. This means providing access to hot water and electricity, keeping the property free of mould and pests, and ensuring that damage is immediately taken care of.
- Allowing tenants quiet enjoyment of the property. Quiet enjoyment means tenants can treat your property like their own home and entitles them to certain rights. You can’t just drop by the property whenever you please, you need to give your tenants legislative notice if you plan on doing cleaning or maintenance.
- To keep in contact with your property manager. If you organise property management in Jindalee or west Brisbane, you need to stay in contact regularly. At Spectrum, we contact landlords for approval for any significant repairs or renovations. If we can’t contact you, you may find your property will become worn down, and you’ll have a high turnover of tenants.
If You’re Looking For Help With Property Management In Jindalee, Sinnamon Park, Or Middle Park, Spectrum Estate Agents Can Help
At Spectrum, we’re not your typical real estate agency. Sure, we help people buy, sell, lease, and rent property, but outside of that, we’re committed to doing things differently. We value honesty, integrity, innovation, and most importantly, people. We understand that each of our clients has different desires, different stories, and different expectations, so we work closely with them to make they’re getting the service they need. The cookie-cutter approach to real estate is going the way of the dodo bird. Instead, Spectrum Estate Agents offer highly personalised, tailored strategies for each of our clients to get them the very best result possible. So, if you’re after an agency that is ready to be bold and zig when others zag, contact Spectrum Estate Agents.