Thinking about renting out your property in Witfield? Before you advertise the property and start accepting applications, there are a few important things you should get right.

Renting out a property can produce a valuable monthly income, but a poorly managed rental can quickly become expensive. The goal isn't simply to find someone willing to pay the rent. The goal is to establish a rental that is properly prepared, properly documented and properly managed from the beginning.

1. Start With the Property Itself

Before thinking about tenants, take an honest look at the property.

Is it clean? Are the obvious maintenance issues dealt with? Are the cupboards, doors, windows, plumbing and electrical fittings in reasonable condition?

First impressions matter. A property that is clean, well-presented and properly maintained is easier to market and can attract better-quality enquiries.

If you're unsure what your property could realistically rent for, professional advice can help you avoid both underpricing and overpricing.

Read: How Much Is My Property Worth in Boksburg?

2. Price the Rental Correctly

One of the most common mistakes landlords make is deciding on a rental amount based entirely on what they need to cover their bond.

Your bond payment is important to you, but it doesn't determine the market rental value of the property.

The rental needs to be considered against comparable properties, location, condition, size, amenities and current tenant demand.

3. Don't Choose a Tenant Simply Because They Can Pay the Deposit

This is where landlords need to slow down.

A tenant who can produce the deposit and first month's rent isn't automatically a good tenant.

A proper screening process should consider affordability, credit information, employment and other relevant information supplied by the applicant.

A+ Properties provides a Tenant Screening & Risk Assessment service designed to help landlords make a more informed decision.

You can also read our guide to 5 mistakes landlords make when screening tenants.

4. Have a Proper Lease Agreement

A verbal understanding might seem friendly and straightforward at the beginning of a tenancy.

Unfortunately, disagreements tend to happen when people remember the agreement differently.

A properly prepared written lease should clearly record the important terms of the rental relationship.

That includes matters such as the rental, deposit, payment arrangements, responsibilities of the parties, maintenance, inspections and procedures relating to breaches.

Before allowing occupation, make sure the agreement has been properly concluded and that both parties understand what they have agreed to.

Read: What Should a Good Residential Lease Agreement Cover?

5. Document the Property Before the Tenant Moves In

This step can become extremely important later.

Conduct an incoming inspection and properly record the condition of the property.

Photographs can provide useful evidence of the condition of walls, floors, ceilings, cupboards, bathrooms, kitchens, doors, windows and other relevant areas.

6. Be Clear About the Tenant's Responsibilities

Good rental relationships are built on clarity.

The tenant should know how electricity and other services are handled, who to contact about maintenance, what rules apply to the property and what their responsibilities are under the lease.

If the property is inside a complex or development, applicable rules should also be properly communicated.

Don't assume the tenant knows how everything works simply because they have rented before.

7. Decide Whether You Really Want to Manage It Yourself

This is perhaps the question landlords should ask themselves before advertising.

Managing a rental property involves much more than collecting rent.

There can be applications to process, screening to conduct, inspections to arrange, maintenance issues to deal with, tenant communication, record keeping and potential disputes.

For some landlords, self-management works perfectly well. For others, professional property management can provide valuable time savings and additional structure.

We've compared the two approaches in our article:

Self-Managing vs Professional Property Management – Which Is Best for Landlords?

Thinking About Renting Out Your Witfield Property?

Witfield remains an important part of the Boksburg property market, and if you own a property there, getting the rental strategy right can make a significant difference to your experience as a landlord.

At A+ Properties, our approach is simple: don't just find somebody for the property. Build the rental properly from the beginning.

More Helpful Resources for Witfield Landlords

• Witfield Property Guide
• How to Get Good Tenants for Your Rental Property in Boksburg
• Why Landlords in Boksburg Should Use A+ Properties to Place Their Tenant
• 7 Warning Signs a Rental Applicant May Be High Risk
• What Can a Landlord Expect When Placing a New Tenant?
• Property Owner Verification Service
• A+ Properties – Sell or Rent Your Property

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