IT'S A CHALLENGING RENTAL MARKET
A number of recent property market reports have no doubt confirmed what you already know: . . . it’s a challenging rental market. But that doesn’t have to mean doom and gloom for YOU the owner.
Competition is definitely increasing to secure good tenants – and many of you will be looking to us, your Property Manager to help you out. So here at Hub Residential, we have put our heads together and come up with 10 suggestions to help make your property a tenant’s first choice:
Maintain the property well. We encourage you to attend to repairs and maintenance as quickly as possible.
Carry out repairs/renovations that will improve the tenant’s lifestyle – think air-conditioners (often top of the renter’s wish list), heating, dishwasher, washer/dryer, security (locks, gates, screens, intercoms, and alarms), high-speed internet connection/wiring for cable TV, fly screens, and even solar panels. Explore the tax benefits with your accountant.
Give the home a mini makeover – paint, replace floorings if necessary and add storage. A simple IKEA cupboard/wardrobe might make all the difference.
Consider more major renovations if you’re in a position to do so – bright new kitchens and bathrooms might secure a tenant and a premium rent!
Allow the tenants more freedom, like painting a feature wall or providing permanent picture hooks. You’d be surprised how many tenants we’ve spoken to that would LOVE to be able to do this.
Don’t forget to spruce up outdoor areas and green it up with some new plants. Consider offering lawn mowing and gardening. You may get a higher rent and the upkeep of your gardens guaranteed.
Keep your heart and mind open to all prospective tenants – pensioners and single parents often feel landlords find them an unattractive proposition, even if they’d be a great householder.
Re-consider flexible lease times – a short-term lease might be better than nothing!
Allow pets and make sure the property is pet-friendly.
Be flexible if tenants whose circumstances have changed (& are experiencing financial problems). Build yourself a protective buffer with good landlord insurance (including rent cover).
HOW TO GET A FULL BOND REFUND
Most disputes and problems arise from misunderstandings about bond deductions. To avoid unpleasantness for both parties, it is important that you understand your obligations under the Tenancy Agreement in regard to your final bond inspection.
PLEASE TAKE A MOMENT TO READ THIS
Your Final Bond Inspection
After you’ve vacated the property and returned the keys to our office, your bond inspection will be carried out.
The condition of the property at the time of bond inspection will be compared with the condition as at the commencement of the tenancy as described in the Property Condition Report. We cannot complete this inspection until you have ended your tenancy, vacated the property and returned the keys to us.
We strongly suggest that you take a moment to refresh your memory by reading your Property Condition Report prior to vacating.
The carpet cleaning is the responsibility of the tenant and a copy of the contractors paid invoice must be provided to this office without exception as per special conditions of your lease when you return your keys to our office.
Once you have returned the keys you have finalised your tenancy and are no longer responsible for rent (adequate notice and break leases excepted) hence you have handed back the property and you have fulfilled your obligations under the Tenancy Agreement.
While we would be happy to allow you to re-visit the property to rectify any fault, this is not practical. We must re-let the property as soon as possible. If you leave the property unclean or damaged, re-letting is hindered thus incurring costs and loss of rent for the Owner.
In short, we are not obligated to contact you or allow you to rectify any discrepancies once you have vacated, so please ensure that the property is in the condition as stated on the Property Condition Report. Where necessary, we will arrange cleaning and/or repairs to reinstate the property to its original condition. The cost of it will be deducted from your bond.
Please remember that rent will be charged up to and including the day of return of keys to this office. Failure or refusal to pay rent due with the intention that the amount of such rent is to be recovered from the security bond is an offence in accordance with Section 52 of the Residential Tenancies Act of 1987 and is subject to a maximum penalty of $1000 (ref. 2. 4.2 of your lease).
Please remember to provide us with your new contact details, including your postal address, phone numbers and email address.
To assist you, we can supply a Checklist for Outgoing Tenants. If you are in doubt, telephone your Property Manager.
Thank you for cooperation and assistance.