Any sage words of advice for a soon to be landlord welcome
The story so far is I am getting married next month to my beautiful Fiancee, as well as being beautiful, funny and very smart she is also thrifty and has already paid off 98% of her modest mortgage. Hence I will be moving to her lovely 2bed 1bath unit in Chelsea. This leaves my current PPOR vacant and awaiting the vast unwashed horde of potential tenants/squatters. (2bed 1bath townhouse in seaford)
Having picked up most of my knowledge of property investing from my parents, friends and close relations I have decided to test myself and self manage initially.
I plan to;
Re - read through "Renting a home a guide to tenants and landlords"
1) Get some agents and PM's through for a market appraisal.
2) Get a depreciation schedule organised. (It is a 1970's T/house, I did a minor reno when moving at the start of 2006 polished floorboards, painting, door handles/hinges, Venetian blinds, paved rear courtyard and retaining wall) I know someone lurking will want to PM me
3) organise landlord insurance/prepare condition report
4) advertise on gumtree and the local paper.
5) hold a viewing or two and hand out standard tenant app forums to be filled out.
6) Go through apps and pick most eligible tenant and make an offer.
7) Get a tenant I am reasonably happy with and follow all standard CAV regulations.
8) sign off on condition report move tenant in hand them "little red book" (vic) and lodge bond
9) stay organised and get prepared for 6month rental review/inspection well ahead of time and make sure to lodge notice 60 days prior to any rental increase.
10) prepare for lease renewal when it comes up.
I am sure I have missed plenty do your worst
Link to Consumer affairs Victoria site on renting
http://www.consumer.vic.gov.au/CA256EB5000644CE/page/Renting?OpenDocument&1=910-Renting~&2=~&3=~
The story so far is I am getting married next month to my beautiful Fiancee, as well as being beautiful, funny and very smart she is also thrifty and has already paid off 98% of her modest mortgage. Hence I will be moving to her lovely 2bed 1bath unit in Chelsea. This leaves my current PPOR vacant and awaiting the vast unwashed horde of potential tenants/squatters. (2bed 1bath townhouse in seaford)
Having picked up most of my knowledge of property investing from my parents, friends and close relations I have decided to test myself and self manage initially.
I plan to;
Re - read through "Renting a home a guide to tenants and landlords"
1) Get some agents and PM's through for a market appraisal.
2) Get a depreciation schedule organised. (It is a 1970's T/house, I did a minor reno when moving at the start of 2006 polished floorboards, painting, door handles/hinges, Venetian blinds, paved rear courtyard and retaining wall) I know someone lurking will want to PM me
3) organise landlord insurance/prepare condition report
4) advertise on gumtree and the local paper.
5) hold a viewing or two and hand out standard tenant app forums to be filled out.
6) Go through apps and pick most eligible tenant and make an offer.
7) Get a tenant I am reasonably happy with and follow all standard CAV regulations.
8) sign off on condition report move tenant in hand them "little red book" (vic) and lodge bond
9) stay organised and get prepared for 6month rental review/inspection well ahead of time and make sure to lodge notice 60 days prior to any rental increase.
10) prepare for lease renewal when it comes up.
I am sure I have missed plenty do your worst
Link to Consumer affairs Victoria site on renting
http://www.consumer.vic.gov.au/CA256EB5000644CE/page/Renting?OpenDocument&1=910-Renting~&2=~&3=~
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