Moving into a new rental guide

Will you be moving into a new rental property in 2018? LJ Hooker has prepared a guide for tenants wanting to make a smooth move.

Getting paperwork in order

After looking at countless rental properties, securing the tenancy for the house, apartment or townhouse you wanted and moving all your stuff in, you probably just feel like kicking back on the couch and turning your
brain off for as long as possible. The hard part’s over, after all – now it’s just a matter of settling in.

If only it were that easy! In fact, the first week or so of movnig in to a new place is one of, if not the, most crucial period for a tenancy. By checking the following things off your list, you’ll be able to sleep easier for the
remainder of your lease.

  • Make sure you know & understand the terms of the lease agreement. If you are unsure of any or would like clarification please ask your property manager.
  • Keep a copy of any documents you sign
  • Be sure that you’ve been given a property condition report, and that you fill it out accurately and sign it. The condition report outlines the state of the property room-by-room, including any fittings and fixtures. If filled in incorrectly, or not at all, you could be liable for damages that were never your fault. Be sure to return your copy of the report to your property manager promptly, usually within a time period of seven days in most states

Depending on what state you live in, during your first few months you may receive a letter from your state rental authority to say your bond has been lodged and including your reference number.

Get behind the camera

You may have already snapped up the rental property, but there’s more ‘snapping’ left to do. Along with having filled out the property condition report, you would do well to also take detailed photographs of the house
or apartment, particularly the parts noted in the condition report. This way, you have some hard evidence of the condition of the property when you’ve moved in, and will help eliminate the possibility of he-said, shesaid

Get connected

While it might be tempting to lie down and forget about the world for a while, this period of relaxation isn’t likely to last very long if your power, water and gas aren’t working. That’s why, just before moving in contact LJ Hooker Assist and they can help connect your utility’s and ensure you are getting the best possible rates.

Along with this, it’s a good idea to arrange for any bills to be in your name. You might also think about setting up automatic payments for the rent and bills, to simplify things even further.

8 ways to attract executive tenants

A quality investment property in an urban location near transport, cafes, business and commercial premises is highly likely to attract an executive tenant.

They’re usually time poor, sophisticated, used to travel, want a comfortable home and can afford to pay top money either out of their own or their company’s pocket. In other words, most are great tenants you’d love to attract!

Now, with the New Year just around the corner, many executives are relocating either for a new permanent role or contract and are ready to move. So how can you make your furnished investment property an attractive, potential corporate rental?

Make a great first impression

If your investment property is a house with a front garden, spend some time tidying up the garden beds, remove any weeds, water blast the paths, paint the fence and clean the windows. If you own an apartment, perhaps add window boxes, clean the front door or give it a fresh coat of paint and add a new front door mat to make the place more welcoming.

A Bedroom sanctuary

Executive tenants want a bedroom where they can escape the worries of life. You can make your bedroom/s feel like a sanctuary by adding a little luxury with fresh linen, puffed up pillows and extra cushions, a throw rug, a comfy chair and bedside lamps.

Storage is also important so it is worth considering having built-in robes installed, but keep the interior simple because if you include all the bells and whistles you won’t recoup the costs. Bedroom lighting is really important in creating atmosphere. Consider adding dimmer switches and bedside lamps.

Luxury in the bathroom

Executive tenants like to have a bit of luxury, but this doesn’t mean you need to spend a fortune on re-doing the bathroom, this can be achieved relatively economically.

Replace any old shower curtains, shower heads and fixtures, scrub away any mould and if need be put in a new vanity – these are relatively cheap but make a huge difference to the presentation of the bathroom.

Today luxury spa bathrooms are very popular, but we don’t all have this look. You can however add a little luxury to any bathroom. Fresh plump towels, some handmade soaps, plant or fresh flowers and some boutique bath products set out in your bathroom will give that feeling of luxury.

Kitchen makeover

The kitchen is the heart of the home and like bathrooms, executive tenants are happy to pay more for a home with a good kitchen.

A fresh coat of paint can work wonders in a drab kitchen, especially if cooking splatters have become a feature! Don’t forget your worn tiles – a little primer and paint can make a huge difference.

They appreciate nice appliances, so if yours are looking a bit tired perhaps consider replacing the dishwasher, oven or fridge. You can purchase affordable 2nd hand appliances on eBay or keep an eye out for sales. If you don’t have a dishwasher it is worth adding one as this will automatically increase the appeal of your property. These aren’t ridiculously expensive and if you are handy you can install it yourself.

Swapping cabinet doors can give your kitchen a whole new look. If entirely new doors are outside your budget you can make a huge difference by simply replacing the handles of your cupboards and drawers.

Have a look at the kitchen benchtop – if it is damaged with stains and scratches, it would be worth replacing it with a cost effective option such as laminate. This will help freshen up the whole room and won’t cost a fortune.

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Finally, if your kitchen floor is a little worse for wear, lift the lino and if you have them, polish the floorboards underneath – if they are in good enough condition – otherwise lay vinyl flooring, which is easy to clean. Alternatively, you may like to use tiles for a contemporary cool feeling.

Add off street parking

A car space can be a huge bonus especially if your rental is in a high density living area such as the inner city or in the beach side suburbs. In fact, the closer your place is to the city the more appeal the parking space will add to your property. Perhaps you could add a car port out of the front of the home or create a drive way in the front garden. This can cost a bit, however it’s worth talking to your accountant to find out what is tax deductible.

Add a laundry

Internal laundries are desired by many executive tenants and can certainly increase your investment property ROI. Perhaps you can make some space in a bathroom, the hall way or in the kitchen to fit a washer /dryer. Tenants will love the convenience of an internal laundry and happy to pay a bit more.

Outdoor entertaining space

An outdoor entertaining space is a great draw card for tenants and in Australia as we love being outside…plus it will add value to your property when you go to sell. You don’t need to spend a fortune, simply by adding a deck, tiling a courtyard, adding a gazebo and BBQ plus some outdoor furniture will be a big draw card for execs.