3 things to think about before buying a holiday home
A holiday home is great for knowing you can get away whenever the urge takes you. However, what should you consider before making an investment?
Introduction
Good property management is all about good monitoring of your rental property. Routine inspections are crucial for ensuring that tenants not only are maintaining the property and keeping it clean, but also to check for any repairs that are needed. Over the next few weeks we will reveal some top tips for conducting routine inspections.
1. Always Put Your Notice in Writing
Ensure that you let your tenants know in writing that you wish to do a routine inspection. Legislation provides that notice be given of an inspection.. Verbal notice is not acceptable should your tenant disagree, so putting your intent to inspect in writing is essential.
2. Give Your Expectations in Writing
In addition to your written notice let your tenant knowwhat you will be looking for. Request that the property is presented clean, the grounds are maintained, all rooms and areas are unlocked and accessible and any pets are secured. Also requesting that wet areas, tiles and ovens are presented clean as these can be problem areas for the vacate inspections should they not be kept free of dirt and grime.
3. Conducting the Interior Inspection
Take your time walking through the property. Be sure to be looking out for ‘the big three’- cleanliness, repairs and tenant damage. Ensure you access all rooms in the living areas, kitchen, bedrooms and wet areas. Politely ask the tenant to rectify any problems areas and either check it at the next inspection, or come back within a couple weeks to ensure the issue has been resolved.
4. Conducting the Exterior Inspection
Check the exterior of the property looking at the outside walls, roof, gardens, lawns, sheds, garages and driveways observing for any repair problems and for any tenant neglect or damage. Be on the look-out for unapproved pet signs as usually non-approved pets will be relocated for the day but may leave behind other obvious visible signs. Like the interior inspection, be sure to ask your tenant to rectify any unsatisfactory items and come back to check them if needed.
A holiday home is great for knowing you can get away whenever the urge takes you. However, what should you consider before making an investment?
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