So you’ve bought your first investment property. Are you ready to become a landlord? Property management can be more work than you’d envisaged. But we have great news, you’re not alone, Bayleys Marlborough can definitely help you maximise returns on your rental property.
As a newbie landlord here are three questions you should ask yourself, before you hand over the keys to your property.
- Would I live here?
Take a really good look at your property and ask yourself this fundamental question. If you answer no, then you have work to do.Your property should be clean and tidy, inside and outside. Be sure that any appliances are in good working order. If it’s a furnished rental, make sure that your future tenants have pretty much what they’ll need. Remember your tenants aren’t looking to rent a house, they’re looking for a home. If it looks like a home, your tenants are more likely to look after your investment. At Bayleys Marlborough, our property management team can visit your prospective rental and offer you an appraisal. Our expert agents will let you know if they think you should make any changes to help maximise rental opportunities and investment returns.
- How can I find a tenant?
If you’ve never been in the rental market before, this can be a daunting task. At Bayleys Marlborough we know that effective marketing is key to successful property management. Your property features on our office rental list for walk-ins to see. We’ll match your rental with our database of potential tenant submissions. We conduct unlimited viewings until your property is rented to good tenants; we source tenants who are able to pay their rent on time and maintain your property as if it was their own.
- Do I know the law and my obligations as a landlord?
At Bayleys Marlborough, we’re not lawyers, but our property management team are experts in the Residential Tenancies Act, which means we minimise any risks for you. We take care of the tenancy agreement and bond. Once you have rented your property through us, we’ll utilise our reliable contracters to attend promptly to any maintenance issues, so minor problems don’t escalate, and most importantly so you don’t fall foul of the Residentail Tenancies Act 1986.
For more information on how we help, download our Bayleys Property Management Guide HERE.