(http://www.tenantmanagement.com.au/videos/08-5-things-to-do-before-handing-over-the-keys-to-tenants/) - Hello, my name is Michael Gilbert, and I’m a licensed real estate agent, and I’m here on behalf of tenantmanagement.com.au. Today, I’m going to talk to you about the five things that I think you need to do, that you must do, before you hand over the keys to tenants. The first thing is, you should get a full periods rent. So if you charge monthly then you’ll need one month’s rent before you hand over the keys. If you charge weekly, then you’ll need one full week’s rent before you hand over the keys. So it’s like pre-paid rent.

1. Tenant Management
5 Things To Do Before Handling Over The Keys To Tenants
Hello, my name is Michael Gilbert, and I’m a licensed real
estate agent, and I’m here on behalf of
tenantmanagement.com.au. Today, I’m going to talk to
you about the five things that I think you need to do, that
you must do, before you hand over the keys to tenants.
The first thing is, you should get a full periods rent. So if
you charge monthly then you’ll need one month’s rent
before you hand over the keys. If you charge weekly, then
you’ll need one full week’s rent before you hand over the
keys. So it’s like pre-paid rent.
1 - Get a Full Period’s Rent
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Tenant Management
The second point is that you should get the maximum
bond that you can charge in your particular state. For
example, if you’re in Victoria, then you should get one
month’s rent, and if you’re in New South Wales then
you should get a full week’s rent. And when you get
that bond, you should also transfer that over to the
relevant government body within your state.
2 - Collect Maximum Bond
5 Things To Do Before Handing Over The Keys To Tenants

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Tenant Management
I should say, the third point is that you should get
your… a residential tenancy agreement lease signed
by all parties – by all owners and by all tenants –
and each party should also be given a copy of that.
Within that lease, you should have the keys
photocopied on a piece of paper. If you don’t want
to photocopy it, just take a photo of it with your
iPhone and print it out and put that within the
lease. With this lease, you should also give the
tenants a copy of the renting guide. It might be
called differently in your particular state.
3 - Get Tenancy Agreement Lease
5 Things To Do Before Handing Over The Keys To Tenants

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Tenant Management
The fourth thing is a condition report, a
comprehensive condition report. The more
comprehensive this condition report is, that you
do before tenants move in, the easier it will be
when the tenants actually got to move out and
have to refund the bond. With this condition
report, you should have photos, you should have
even small videos if you can, and even an
inventory. What I meant with inventory is that
within each room you should note what light are
in there, what curtains are in there, for example.
4 - Prepare Condition Report
5 Things To Do Before Handling Over The Keys To Tenants

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Tenant Management
The fifth note, the fifth point that you must do
before you hand over the keys to tenants is that
you should have some sort of direct debit form
signed. If they’re not paying by direct debit, it
should be very clear on how the tenants are to pay
rent. If they don’t know how to pay rent, they’re
not going to pay it as easy and as on time as you
would like.
5 – Have Direct Debit Form Signed
5 Things To Do Before Handling Over The Keys To Tenants

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Tenant Management
So they’re the five things that you should do before you
hand over the keys. If you’d like some more
information, jump on tenantmanagement.com.au and
feel free to ask us some questions. Thanks very much
for listening. This is tenant management.
5 Things To Do Before Handling Over The Keys To Tenants
Now you’re ready to hand over the keys