How to become a savvy landlord

RULE 1: Present your property well

If your property looks like a dump, the chances are that you’ll scare good tenants away. So make sure your property’s clean, tidy and ready to move into before viewings start. You might even consider getting a cleaner and gardener in for a one-off blitzkrieg. If you can get an extra $50 a week out of the tenants or they stay longer ensuring fewer empty weeks, you’ll recoup your money very quickly. Remember, small things just as much as the big things will put a potential tenant off your property. Getting maintenance done at the outset not only stops the tenant bugging you and getting the tenancy off to a bad start it ensures that minor problems are checked before they grow. A small leak in the roof now can lead to major damage in six months. Your presentation of the property also sets a standard of cleanliness and tidiness and lets the tenant know that small things matter to you. What’s more, it’s more likely that a clean property will be maintained and returned in a tidy condition.

RULE 2: Check your tenants

Assuming you’re planning to manage the property yourself, it’s time to learn some ‘people savvy’. Plenty of ratbag tenants have charmed a potential landlord. So follow the rules and don’t make yourself the next mug. There are plenty of good books on the market and in libraries to help you, but here are some basic points: