Preparing Your Newly Built Property for Rental

Due to a spate of reasonably-priced, investor-friendly planned communities, many investors are buying new homes as investment properties in the Perth area. While this may seem like a turnkey solution to many and it is natural to assume that a new home will be tenant-ready at the handover of the key from the builder, there are some steps that you must take to prepare new build properties for rental.

While most building packages appear to have everything, in reality there are a lot of features that are often not included. While connections such as electric, gas and sewage are required, there are other, optional connections that you may want to provide to make your properties more rentable and to provide control over the process.

Miscellaneous Connections and Their Costs

A TV aerial connection is important. This will probably cost between $230 and $250. Though most people have mobile phones, it is still necessary to provide a landline telephone connection. This will cost approximately $300. A good clothes line will cost between $600 and $800 to install.

Property Management

If you hire a property management firm, such as Investors Edge, you need to inform your strata company that you have hired us. This saves a lot of confusion and allows us to act in your behalf with the strata company.

Other Considerations

If you are in the Perth area, you need to contact the Water Corporation for permission to establish a new lawn. Advise Investors Edge of the final watering date and a reading will be taken.

After final payments on the property, you will be ready for key handover. It will be necessary to set and activate new alarm codes. All rubbish and building materials must be removed from the property. Also, you should leave the manuals for all of the new appliances on the kitchen counter to assure that they are all used properly.

One last tip: don’t forget to make sure that all locks on the property have keys. Provide two sets for each lock—one for the property management company and one for the tenants. It is optional to keep a third set for yourself.