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How can I make sure tenants don’t do any damage to my investment property?

Make sure that you or your property manager conduct a thorough review of the property before each tenant moves in. Complete a Condition Report outlining any existing damage, marks, or signs of wear and tear on the inside and outside of the property. Complete an Inventory Report detailing all furniture, appliances, cutlery, crockery and other items provided with the property, along with their condition.

The better the Condition & Inventory Reports are prepared, the better the outcome for both parties at the end of the tenancy.  Some landlords take photographs to prove the condition of certain items, and attach these to the Agreement. Both of these reports should be signed by the landlord and the tenant.

Inform your tenants that you will be inspecting the property again at the end of the tenancy. This should encourage them to take care of your property while they are living there. Let them know that if they do happen to damage something, they should contact you.  It's easier to work something out together during the tenancy, rather than sending the tenants a bill once they’ve left. It is usual for landlords to cover minor expenses (such as the odd broken plate) or fair wear and tear themselves. For more significant damage, the occupant will be responsible.

Taking a bond at the beginning of the tenancy offers landlords some protection.
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