Research: online, in your local area and by visiting local agents. Make sure you aware of the legal and financial obligations of renting out a property.
Appraisal: source at least two appraisals to compare from reputable property managers.
Employing a property manager: make sure you select a property manager with thorough experience, knowledge and training. It is important you feel confident with whoever is responsible for your investments welfare.
Presentation and home safety: before marketing your property it is important to make sure your home is safe and presentable to attract potential tenants.
Marketing: it is essential your property achieves maximum exposure via marketing to reach tenants.
Communication: make sure your property manager and yourself communicate regularly.
Tenant selection and the application process: select a tenant with your manager’s help who you feel secure with. Also make sure you are satisfied with all the clauses in the Tenancy Agreement.
When the tenant moves in: there are a number of processes that need to be attended to throughout initially and on an ongoing basis. Make sure you are aware of these and deal with them as required.