As a First Home Buyer how long do you need to live in your property until you are legally allowed to rent it out? I have been told its 3 months, then 6 now 12. Also what procedures must be undertaken to transfer from home to IP?
: get a property manager
: change your insurance policy to tennanted and get landlord insurance.
: change your mail. Get ur pm to get rates etc mailed to them to pay.
: and fix/ tidy anything that you would expect the new tennant to complain about when they move in. Ie tap washers, door handles light switches etc to save on call out fees etc.
Word of caution if your lender is Keystart you need permission to rent the property out whilst they hold the titles and it has to be legitimate case such as permanent relocation for work.
Word of caution if your lender is Keystart you need permission to rent the property out whilst they hold the titles and it has to be legitimate case such as permanent relocation for work.