INTERVIEWING AN AGENT:

1. What is their procedure for late payments?
2. How long have they been in Real Estate?
3. What qualifications/experience do they have?
4. Ask for an information kit, re: company history (fees, charges and comparables etc.), etc.
5. Ask for brochures on landlord insurance and landlords rights and duties.
6. Ask for level of service, ie: 6 monthly inspections and screening tenants etc.
7. Method of payment of rent, reliability in depositing monies.
8. Do they have a comprehensive questionnaire?
9. What hours does your property manager work? What about weekends?
10. Reporting to the landlord.
11. How does agent check tenants?
12. How does agent look after property? - Inspections, how often and to what extent?

PREPARING THE HOME FOR RENT:

1. Present home to standards high enough to attract caring tenants.
2. Have all heating, cooking, plumbing, appliances and electrical are in good working order.
3. Check insurance covers tenancy.
4. Mow lawns, maintain/weed gardens, clean home - expect tenant to leave in this state when they leave no excuses to leave dirty etc.
5. Make sure all fautls are rectified prior to tenant moving in.
6. Carpets professionally cleaned. Thoroughly clean oven, shower and windows etc.
7. Make sure all keys available and locks work.
8. Ensure agent knows what works/or doesn't work.
9. Ensure property is safe, ie: railing secure etc.

UPDATES AND RECEIVING RENT:

1. How is the rent paid?
2. Is there a quarterly/monthly newsletter/statements?
3. Never allow rent to be more than one week in arrears.
4. Condition reports, photos on entry.
5. Provide deposit book for banking.
6. Provide account details for direct deposit/or quick payment option.

COMMON MISTAKES:

1. Not keeping rent in advance.
2. Not having property in rentable condition prior to tenancy.
3. Don't let the tenant choose the property, make sure the landlord chooses the tenant.
4. Don't choose your agent on fees and charges.
5. Allowing complaints to be unresolved past sundown on the day of the complaint.
6. Allowing seemingly minor maintenance items to remain unresolved.
7. Letting tenants pick the agent.
8. Leasing out a family home with strong personal attachments.
9. Not acknowledging that rental properties are a commercial venture, that means profit but also sometimes can mean loss.