Tips For Stress-Free Rentals

Renting a house out is different from sharing rooms with others because of the power

difference between you and the tenants. Your tenants need to be able to see you as a steady

source of services just as you see them as a steady source of income. Follow these rules and

your relationship will be beneficial!

Hire A Property Manager

There is no denying that a great property manager can bring a return on investment to the

owner. Effectively putting your investments on autopilot, a property manager allows you to

take your hands as you want your property. Nothing could be more relaxing.

Property managers offer you many benefits over self-managing your rental property. They

have systems and practices in place to run your property like a machine. From renting your

property to handling late-night maintenance calls, good property management doesn't cost

money -- it pays. From start to finish, working with an experienced company allows you to

earn residual income for years to come without any responsibility.

Landlords Insurance

Make sure to provide the right insurance for your investment property, too many homeowners

think their properties are covered by standard insurance while there is a tenant. But that's not

the case because you don't include lost rent, damage caused by tenants, etc. It is very

difficult to adapt to changes in circumstances, such as death, divorce or unemployment,

three key aspects that can lead to tenants not paying rent.

Be Open To Negotiation

A residential rental agreement (also known as a lease agreement) is a contract between the

landlord and the tenant. There are many terms that can be negotiated in a lease, including:

- When the rent can be reviewed

- How much rent can increase

- Whether pets are allowed

- Make improvements to the property

- Who is responsible for the maintenance of the garden

- Many other cases

The best lease agreements usually occur when both the landlord and the tenant are

reasonable and negotiate in good faith. Many tenants want to sign long-term tenancy

agreements so they can secure their lease and live in peace. Moving can cause a great

disruption to children's school, work and daily life. Most landlords expect tenants to look

after their homes, pay their rent on time and treat their neighbours with respect. Most

landlords demand fair market rents and raise them in line with market conditions. Given that most landlords are repaying their property loans, it is important for them to maximise their

net rental income.

If you allow pets, to make sure your property is protected, you can have the tenant sign a

"pet agreement" where the tenant assumes full responsibility for their pet. Proper landlord

protection insurance is also important when approving pets.

AUV Real Estate prides itself on providing quick property rentals to our landlords and we

provide service guarantees to our customers. We are on the market for a very short time and

we work very hard to maximise rental income for each landlord/client.

Please contact us today at (03) 9939 6806 for property management inquiries regarding your

property

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