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Tips to Succeed with Your First Property
22 Nov 2022
Are you a new landlord? Don't walk into the rental market blind - get ready to succeed with 3 tips to get you rent-ready and prepped for new tenants.
What we have found with over 15 years' experience is that EDUCATION is king.
If you understand the legislation governing your rental property, your obligations as a landlord, how a typical tenancy agreement should evolve, and how to continuously update and maintain your property - you'll be in a strong position to thrive in the rental market.
However we have 3 top tips we regularly recommend to our new landlords, to help them succeed.
These are:
1. Get educated and know how the rental market works and the relevant legislation
2. Regularly visit your property at routine inspections or thoroughly investigate your routine inspection reports (looking at the cleanliness, state of appliances and overall wellbeing of your property)
3. Invest in landlord insurance and understand how you're protected
Becoming a landlord can provide you with a steady stream of passive income, but it takes time and commitment to being successful.
Have the right team to guide you and protect you and your investment can provide peace of mind that you're not in this alone. It also allows you to collaborate with highly trained and qualified industry professionals, who are up to date on the latest legislative standards.
If you're in need of advice as a first time investor? We'd love to chat to you! We offer a complimentary rental appraisal, so for some free advice, give us a call!
