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For sellers who want or need to move for whatever reason, this might pose a dilemma, especially if there is a mortgage loan on the property.
By correctly pricing your rental property, you will not only attract more tenants but will likely be able to keep it occupied with a lower risk of tenants wanting to move out to find cheaper accommodation. A security deposit is vital. These days anything upwards of one to two months is the norm. It must be invested in an interest-bearing account to the benefit of the tenant. You may not use any of the funds during the lease. Only at the end of the period can you access the funds to cover any rental arrears or damage.
Generally, the tenant should have full use of the property unless they specifically agree that you can store stuff in the garages, for example. An incoming property inspection must be done, detailing any damage or defects and must be signed by both parties. It is advisable to inspect the property during the lease period, but this must be done by prior arrangement with the tenant. You cannot use spare keys to enter the property at all, nor can you simply arrive at any time. At the end of the lease, another inspection must be done and compared with the incoming inspection.
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