As a landlord living anywhere in Australia, it can be difficult to manage all the different aspects of renting an apartment or a house in any of the cities like Perth, Canberra, Newcastle, etc. Here are the top ten things you can do to ensure when renting property and to maintain your relationships with tenants remain on good terms.
Renting your property in Australia to anyone before checking credit history, references and background is not advisable. Haphazard screening and tenant selection too often result in problems, such as a tenant who pays the rent late or not at all, trashes your place, or lets undesirable friends move in. Use a written Rental application to properly screen your tenants.
Get it in writing
Be sure to use a written lease or month to month rental agreement to document the important facts of your relationships with your tenants including the basics about rent payment and tenant responsibilities. Just like what HOTELS in Canada do, Australia as well do. Write about when and how you handle tenant responsibilities and repair problems, how much notice you must give to enter a tenant apartment, and so forth. What to include in a lease or rental agreement is very important to think about before renting out your property in Australia.
Handle security deposits properly
Establish a fair system of setting, collecting, holding, and returning the amounts tenants pay up front as a security deposit when they decide to take up your rented property in Australia. Inspect and document the condition of the rental unit before the tenant moves in, to avoid disputes over security deposits when the tenant moves out. Check out the laws relating to renting out your property, which might be different for each state in Australia, to ensure you are handling security deposits correctly.
Make necessary repairs
Stay on top of maintenance and repair needs and make repairs when requested. If your property in Australia is not kept in good repairs, you shall alienate good tenants, and they may be legally entitled to withhold the rent, repair the problem and deduct the cost from the rent, sue for injuries caused by defective condition, and move out without giving notice.
Provide secure premises
Do not let your tenant’s property in Australia become easy marks for a criminal. Assess your property’s security and take reasonable steps to protect it. Often the best measures, such as proper lights and trimmed landscaping, are not terribly expensive.
Provide notice before entering a unit.
Learn about your tenants right to privacy, repairs, maintenance, and entry to your rented premises in Australia. Notify your tenants whenever you plan to enter their rental unit, and provide as much notice as possible, at least 24 hours or the minimum amount required by the state law in Australia, which may be different for each state. You will be able to find this information online.
Disclose environmental Hazards.
If there’s hazard such as lead or mold on your property in Australia, tell your tenants, either before they move in or as soon as you become aware of the problem. Landlords are increasingly being held liable for tenant health problems resulting from exposure to environmental toxins in the rental premises.
Oversee Property managers
Choose and supervise your property manager in Australia carefully. If a manager commits a crime or is incompetent, you may be held financially responsible. Do a thorough background check and clearly spell out the managers duties so as to help prevent problems down the road.
Purchase enough liability and other property insurance for your premises in Australia. A well designed insurance program can protect you from lawsuits by tenants for injuries or discrimination and from losses to your rental property caused by everything from fire and storms to burglary and vandalism.
If your property in Australia undergoes disputes, try to resolve these with your tenants, without involving lawyers and lawsuits. If you have a conflict with a tenant over rent, deposits, repairs, your access to the rental unit, noise or some other issues that does not immediately warrant an eviction, meet with the tenant to see if the problem can be resolved informally.
If that does not work consider mediation by a neutral third party, often available at little or no cost from publicly funded programs.
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