Morpheus Property - Investment Readiness

Buying Property > Rental Readiness

"... begin with the end in mind."

Rental Readiness and one of your most valuable assets

Having an investment property on the rental market for the first time can be an intimidating process. We can provide you with the guidance to get your property ready for the rental market and you ready to talk with prospective tenants. This will ensure that your property is “rental ready” as soon as possible and making cash from your investment.

Knowing what information a landlord should request is essential. Having information and documents ready to give to a prospective tenant will show that you are an organised and serious landlord. This will instill confidence in you and set the scene for the relationship that will be ongoing during their stay in your investment. This will also ensure that the property is returned to you in the best condition possible.

Where to begin?

Renting a property is like any situation… begin with the end in mind. You want your tenants to be happy whilst they are there and you want them to pay on time whilst looking after the property.

There are a number of forms that you should have ready at the beginning of any tenancy. These forms and information sheets will provide you with tools to begin the successful rental process and are available from the Residential Tenancy Authority.

Be prepared!

Being a landlord can be a great source of income, but it also can cost you time, money, and peace of mind if you aren’t prepared and able to manage your property efficiently.

Take our Rental Readiness Quick Test and keep at top of mind some of the information and documents you will need to think about as a landlord and property owner:

Rental Readiness Quick Checklist

1.   How will you find a good tenant or a committed property manager?
2.   Have you thought about how you will word your rental advertisements so that it gets noticed?
3.   What documents will you need to have access to in order to finalise a lease for a prospective tenant? Documents such as:
    a. Lease agreements
    b. Condition reports
    c. Bond lodgment forms
    d. Breach Notices
4.   Written explanations and checklists for tenants so that they perform required preventative maintenance to property assets such as pools and air-conditioning
5.   Find good property maintenance professionals for the following trades and services:
    a. Plumbing – Roof and Drainage
    b. Electrical
    c. Pool maintenance and repair
    d. Fencing contractors
    e. Window (glass) repairs
    f. Aerial and TV repairs
    g. Carpet Cleaners
    h. Air-conditioning suppliers and servicing
    i. Appliance repairs and maintenance such as dishwashers & washing machines
    j. Painters
    k. Handyman repairs and maintenance
    l. Pest control
6.   Get access to the required expert panel as a part of your ongoing property investment journey. The right lawyers, tax specialist etc. We have partners we can refer you to for your convenience and support

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Last Updated 16 October, 2009