Brisbane’s rental market has seen an impressive price climb to 12.5% over the past year. This has resulted in many tenants paying the highest prices ever for properties, due to owners/landlords capitalising on low vacancy rates and skyrocketing demand for rental properties.
In this post, I’m going to share some tips for those owners who have an investment property and are interested in maximising the value of their property by providing a checklist that will hopefully help with the process of ensuring your property is taken care of, from a compliance and insurance perspective.
- Is your property in good condition at the start of the tenancy? It is essential to ensure that the property is in great condition before handing over the keys.
- Is your property water efficient? Can you provide a Water Compliance Certificate?
- Do the smoke alarms comply with regulations? Are you able to provide a smoke alarm compliance certificate?
- Do you need insurance? It’s important to ensure that you are covered for any damages that may occur and be able to provide a certificate of insurance.
- Does your property comply with Pool regulations? Can you provide a Pool Safety Certificate?
- Have you marketed your property? Contact your property manager to ensure your property is advertised effectively in order to secure the best possible tenant.
- If applicable, ensure you provide information in relation to body corporate laws. This is important to provide as body corporates are responsible for upholding the rules and consistency of behaviour.
- Lastly, as an owner you need to ensure that you are invested in ensuring you achieve the best result by being willing to make changes in order to find that ideal tenant and get the most out of your investment property.
(Brandon Isaak – BDM & Leasing – 2021)