As a rental provider, it’s important to know your obligations when your renter gives notice. Even if you have the perfect renters in your investment property and you or your property manager have taken the time to build-up a good relationship with them, there will come a time when they decide to move on.
There could be many reasons for this such as they’re relocating for work or they’ve decided to buy their own property. When this happens, if you have a good property manager looking after your property, your renter’s departure shouldn’t cause you a moment’s stress.
Here are some steps to consider when your renter gives notice so that you know exactly what your obligations are.
Remember to thank the renters
If your renters have looked after your property and always paid their rent on time, it’s a good idea to thank them for their efforts. This ensures that their exit is as smooth as possible and they might even recommend your property or property manager to friends and family.
In addition, they will remember your appreciation and would consider renting or even buying a property from you in the future. Therefore, make sure that you ask your property manager to thank them when they leave, or do so yourself with a phone call or a little thank you note in the letterbox.
Ask your property manager to provide a moving checklist
To cement the good relationship that you’ve built up with the renters, make moving easier for them. You could ask your property manager to put together a moving checklist. This could include suggestions and contact details for removalists, cleaning companies, gardening services, and recommended real estate agents if they’re moving out of the area.
Your property manager should also offer a reference that states how well they’ve looked after your property. This reiterates your position as a good rental provider and ensures that the whole process will go as smoothly as possible.
Ask your property manager to confirm all the final details
Your property manager should visit the renters once they’ve given notice and confirm their move-out date. This is also a good time to set a date for the renters to return the keys and discuss with them how the renters can get their bond back.
It’s also important for the property manager to ensure that the rent is paid up to the date that the property will be vacated.
Conduct a thorough inspection of the property
Once the renters have moved out of the property, you or your property manager should conduct a thorough inspection of the property to ensure that everything is in order. Keep in mind the difference between normal wear and tear and actual damage.
Taking photos of the property and comparing them to the entry report will help with this.
Refresh the property if needed
It’s always a good idea to refresh your property in between renters, especially if they’ve been there for a while. Consider refreshing the paintwork, and check the carpets and flooring and see if the window coverings have seen better days. You might need to shampoo the carpet or replace worn flooring.
Don’t forget the bathroom and kitchen. Check whether the tiles need regrouting, that the taps are in good condition and whether any lights need replacing. This is also a good time to change the batteries in the smoke alarms if they haven’t been inspected recently.
Start marketing your rental property
To attract good renters and ensure you don’t have an income gap, you should start marketing your rental property as soon as your renter gives notice. Hopefully you have some quality photos of your property you can use even if the renter is still in the property. Ask us about floor plans and how we market your property for rent.
Can we help with managing your Swan Hill home?
We understand quality property management and can help take the stress out of dealing with vacating renters. We can also find new renters for your property so that your house or unit is not vacant for too long. Plus, we can advise you on what you should refresh within the property before new renters move in. Feel free to give us a call on 03 5032 2507. We’re here to help.
