Hi All,
I am in the processing of doing up my property getting it ready to be rented out.
I would like some advice on how to get things going, basically I think I may have a few tenants in soon. As I had people approaching me off the street while I was doing some work around the house.
In short, I have a few questions:
- Wheres the best place to get a free rental agreement contract or buy one on the internet for NSW leases?
- Are there any templates I can use online to document the state of the property prior to the lease. This is so that the tenants can sign and agree to it so that if there is any more damage to the property after the lease they are liable to pay to get things fixed?
- For self managed rental properties, is GST required? So I basically add this to the price of the weekly rental? or have it inclusive. I noticed that people either side of my house are renting for $500 a week there abouts. This is from a commercial agent? I'd assume somehow this includes GST for the full amount? so as a landlord somehow you only get $445 back? or something?
- Receiving rent, I negotiate the terms with the tenant, get them to deposit the amount of rent into an account and I email them or post them the invoice / receipt when received?
- Bond, I ask for 6 weeks bond and register with the NSW bond board or something?
Obviously this is the first time I am managing a property, I would rather do it myself then to pay an agent to do something thats trival. Obviously if anything needs to be repaired I would be in a position to arrange that.
Any advice will be appreciated, anything else I should be aware of?
Thanks in advance,
Slam
I am in the processing of doing up my property getting it ready to be rented out.
I would like some advice on how to get things going, basically I think I may have a few tenants in soon. As I had people approaching me off the street while I was doing some work around the house.
In short, I have a few questions:
- Wheres the best place to get a free rental agreement contract or buy one on the internet for NSW leases?
- Are there any templates I can use online to document the state of the property prior to the lease. This is so that the tenants can sign and agree to it so that if there is any more damage to the property after the lease they are liable to pay to get things fixed?
- For self managed rental properties, is GST required? So I basically add this to the price of the weekly rental? or have it inclusive. I noticed that people either side of my house are renting for $500 a week there abouts. This is from a commercial agent? I'd assume somehow this includes GST for the full amount? so as a landlord somehow you only get $445 back? or something?
- Receiving rent, I negotiate the terms with the tenant, get them to deposit the amount of rent into an account and I email them or post them the invoice / receipt when received?
- Bond, I ask for 6 weeks bond and register with the NSW bond board or something?
Obviously this is the first time I am managing a property, I would rather do it myself then to pay an agent to do something thats trival. Obviously if anything needs to be repaired I would be in a position to arrange that.
Any advice will be appreciated, anything else I should be aware of?
Thanks in advance,
Slam