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Renting your house is itself a procedure and vacating the house from the tenants as well; all you need to understand is your responsibilities and rights. To potentially save time and avoid disputes regarding the property and money, you need a final bond inspection to carry out when your tenant vacates the property. Property investment advisors in Melbourne is here to tell how you can do this inspection on your own or by your managing agent, as the property must have a condition report in this case.
The Property Condition Report:
The property condition report is carried out before the tenants move into your property as this document thoroughly details the condition. Including any damages of the property if you were self-manage that then extract it with the report.
Your Rights and Responsibilities as a Landlord
Well, being a landlord or providing your property for rent, there are some reasons and responsibilities are defined with property management. It would help if you were known to the state and territory-specific legislation to protect your rights and tenant’s rights.
1. Property Damage
You have the right to get back your property clean and undamaged when the tenancy period is over. However, there is a difference of deliberately damaged caused by aggression or recklessness, fair wear, and tear condition.
2. Conducting the Final Inspection
Whether you and your manager are conducting the final investigation of the property must do such things like, first of all, examine the whole place. If you find out the damages or breakage in the house, then make a written final condition report and give the copy to the tenant.
Though this inspection should be taken with the presence of tenant is better, it will be the interest of you both to undertake a joint investigation. So at the time when they leave your property and property keys, there would be no issue.
3. Use Your Property Condition Report
Find out the property condition report which was originated before renting the property and compare that with the original condition of the house or items. If you find out any damages, breakages or missing items, then discuss them to the tenant and other matters like:
- Rent arrears
- Outstanding water, gas and electricity bills
- Cleaning costs (if the property was not left in a clean condition)
- Damage to the park and contents belonging to you (if applicable).
4. Cost Repairs
You have the right to ask about the losses in your property caused during the tenancy. However, if your tenant has caused severe injuries to the fittings and fixtures, then it cannot decide how much amount should be charged. Consequently, if the damage can be repaired, then the tenant will give repair cost if a considerable loss then must have to replace the damaged thing. It would be best if you tried to negotiate the sum of money that should be deducted from the tenant’s bond as compensation.
5. Keep Everything Civil
Don’t make a dispute over things deduct the price from the security bond and keep this thing calm when a tenant agrees with deduction. Try to compromise or come to an agreement; if not, then go the Magistrate’s court for resolution. Tenant is responsible for returning all the keys at the end; if not, then change the locks and cost the tenant for changing locks.
If you are planning to invest in property, reach out the expert property investment specialists in Melbourne at 10 Properties in 10 Years where our professionals will guide you step-by-step. Find out more about our services, give us a call at 1300 617 677 or send us an E-mail at [email protected].