Travelling? Here's What You Should Do About Your Rental Property While You're Away
Australians are renowned the world over for their love of globetrotting adventures – or are they really the globetrotters they’re often made out to be?
Regardless of whether or not Australians really are worldly travellers, any Australian homeowner planning an overseas adventure is advised to think long and hard about what they plan to do with their rental property whilst away.
Some homeowners are fortunate enough to have family or friends to look after their rental properties whilst overseas, though those who aren’t blessed enough to have someone to manage their property whilst away – ensure the rent is paid on time, address any property maintenance issues that arise, source new tenants if required, etc. – are advised to get in contact with a rental property management firm
to ensure their rental property is left in capable hands.Leaving your rental property in capable hands
If you’re not planning an extensive overseas holiday and you have family or friends to take care of your rental property for you, and just as importantly good tenants who aren’t planning on going anywhere during the time you’re away – it would be wise to check with them on this – then there’s little to concern yourself with and little to prepare.However, here are a few things to arrange before you depart.
- Give a copy of the lease to the person taking care of your property
- Provide them with contact numbers for the handyman and/or tradesmen who carry out repairs, etc.
- Provide them with a means of checking that the tenants are paying the rent on time
- Provide your tenants with the family member or friend’s contact details and notify them that they’ll be managing the property in your absence
Whilst there are always a few additional things to arrange before taking off overseas, these are the basics and you’ll generally find that there’s little, if anything at all, left to arrange.
Making arrangements with a rental management firm
However, if you’re planning a lengthy overseas holiday, can’t find anyone to manage your property or your current tenants have expressed their desire to vacate the property at the end of the lease which falls into the time period that you’ll be travelling, then making arrangements with a rental property management firm is advisable.
As you’ll want your rental property to be in good hands in addition to continuing to provide you with an extra source of income – you’ll require your property to be tenanted if you have mortgage repayment commitments – you’ll therefore need to be selective regarding the rental property management firm you leave your rental property in the hands of.
Here are a few things to consider when sourcing a rental property management firm.
- How they advertise vacant rental properties
- How and when they show rental properties to prospective tenants
- What’s included in the cost of their services
- How they manage maintenance and the costs involved
These are some, though not all, of the considerations you’ll need to take into account when sourcing a rental property management firm. Calibre Real Estate are property managers in Brisbane and their services have been very well received, but if your rental property isn’t located in Brisbane or the surrounding area then you’ll need to look for an equally well-respected rental property management firm in your local area, which is another consideration to take note of, that the firm should be a local one.
The decision to leave your rental property in experienced hands is a wise one, as is making arrangements for your property with adequate time to spare before heading overseas.