What a smart tenant knows | Mavin Real Estate

What a smart tenant knows

What a smart tenant knows

As a landlord it is wise to understand (or have a property manager who understands) how a smart tenant thinks and reacts.

A smart tenant who knows their rights and has the right tools available can take advantage of a private landlord or an inexperienced property manager who does not understand the Tenancy Act.

Looking for a new rental.

Websites such as Domain, realestate.com.au or reiwa.com are wonderful resources that you should utilise when looking for a new home. Not every real estate agent lists on each site, so keep an eye on more than one of these popular websites. A property that is exposed on only one of the three may only get a third of the enquiries, so the landlord may be more willing to negotiable after a while.

When to move

The time of year makes a difference. Not many people are looking for a new rental around Christmas, so it is harder for the landlord in the week prior to Christmas and the following 2 weeks after that. This is a great time for a tenant to negotiate on the rent.

The existing tenant

Sometimes the tenant who is vacating is still at the property when being advertised. A smart tenant will take advantage of this and ask questions to get a good idea of what it is like to live there.

Negotiate on the price

The smart tenant will know when a property has been advertised for rent for a while and ask for extra perks, such as improvements to the tenancy, free garden maintenance or a reduction in the rent. All the smart tenant has to do is to ask the landlord or property manager.

Understanding your rights

If the tenant understands the Tenancy Act and their rights in general, they are in a much better position. The internet has plenty of information available for tenants, such as articles on the Department of Commerce website.

Everything in writing

Verbal agreements are harder to prove when issues arise, so a smart tenant will ensure everything is in writing. The smart tenant will also read everything before they sign anything.

Document condition of property

Before a tenant moves in, a property condition report should be carried out the landlord (or landlords property manager). The tenant has the right to add to this report within a given time period, but will also take photos to prove the condition of the property when they moved in.

Readers should always seek their own independent advice prior to making any decisions regarding property or finances.

Related articles:

  1. How to find the right tenant in a tough rental market
  2. Background Check By a Property Manager can Protect
  3. How to find a home that will also be a great investment
  4. How to improve your cash flow on your investment in a tough rental market