Be precise, detailed, and concise in your emails, and use short paragraphs or bulleted lists to convey your ideas. I know I'm a pain in the neck about this, but I always write everything down in writing in an email and raise any issues or concerns with the agent as soon as they come to mind or as soon as we meet. This makes it possible for renters to get adequate contents insurance covers. These are some examples:Įnsuring that all of the outside doors are equipped with locks, ensuring that the property has suitable security, and delivering copies of the keys to their office are all responsibilities of the property manager. Most real estate agents will want a few items from you before advertising for renters. Getting Your Rental Property Ready for Rent Landlord worker's compensation insurance is often included in these plans, and your real estate agent may require it. Consider reviewing the policy entirely before committing to it and discussing it with your insurance agent if you have any questions or concerns. Rent default, malicious damage, and theft are all covered under this policy, as are other incidents committed by the tenant. As a landlord, however, I strongly advise you to choose insurance tailored specifically to your needs. It is possible that the renter would terminate the contract without warning, in which case you will need to locate a new tenant immediately.Īlways make sure that your property is adequately insured, including for the structures and contents, as well as for legal liabilities. You may have to take the renter to court if he refuses to pay the rent any longer. Pipe bursts, gas leaks, electrical failures, and faulty hot water or sewerage systems are all possibilities.Ī leaky roof, floods, storms, and flames are all possibilities.īreakdowns of appliances, heating, and air conditioning systems And the following are examples of the kinds of things that may happen: Our parents are lovely and provide a great deal of care for our home since we don't live in Perth, but we didn't feel comfortable entrusting them with the day-to-day tasks or expecting them to jump into action should an emergency scenario come in the long term. Even though they are much more knowledgeable about homes and far handier than we are, this was not an ideal arrangement for us.īecause no one is simply sitting at home ready to deal with your property and tenant issues. When we resided out of state, we relied on John's parents to help us with property maintenance. While it may seem simple to handle everything through email and direct deposit, problems will always emerge, and you'll need to plan for how you'll deal with them while you're gone. I strongly advise you to hire a property management company to look after your property while you are gone. Using the Services of a Real Estate Agent As a result, the tale of The House and us was born. However, on a bright and beautiful day in 2006, we offered a tiny home on a large property in the northern suburbs of Perth, which was just five minutes from the coast. It was an exciting time in our life to reach a place when we were finally able to make a financial investment in real estate. In most situations, they have through a thorough background check to be approved for employment, reducing the likelihood that you will have to deal with an angry renter significantly. In addition to being dependable and trustworthy, travel nurses are excellent renters since they make it simple for you to get the most out of your rental property. You won't have to be concerned with regular paperwork, cleaning, or lengthy periods when your rental property may be vacant. For landlords, this implies fewer turnovers and fewer hours of labor. To take advantage of the increasing short-term rental industry, you should indeed consider marketing to travel nurses as a potential source of revenue.