When The Tenancy Comes To
An End
Covehome Property Management will advise you and your tenants approximately
eight weeks before the tenancy is due to expire.
You and your tenants may wish to extend the original tenancy for a further
term. If so, Covehome Property Management will prepare the appropriate
documentation defining the length of extension, changes in rent and
any amendments so that the extended tenancy is fully documented
The Property Inspector will check the condition of the property and
contents against the original Inventory and Schedule of Condition, collect
all keys, make the property secure, advise utility companies of meter
readings and the forwarding address of the tenants for billing purposes.
Any cost of cleaning or repairs (other than for fair wear and tear)
will be charged to the tenants deposit. Your property will then be ready
for your next tenant or for you to move back to.
The highest rents are achieved by properties in pristine condition,
these properties attract the best tenants and do not suffer from expensive
void periods. A void of one month is equivalent to a loss of 8.3% of
one year’s rent.
After your property has been let for 2-3 years modest wear and tear
may begin to show. Covehome’s Maintenance Division or an approved
contractor will be pleased to advise and provide quotations for economical
refurbishment. The Inland Revenue currently allow 10% of the rental
income against wear and tear.
