It is the lessees responsibilty to understand their obligations under the lease. Eg: Who pays water, garden service, alarm. How much notice is required. Consider all these items, so that you can make an informed decision.

Ask the owner for the last municipal account, so that you can work out your total monthly rental obligation.

Important to note, that when you install something ie: a security gate, it falls part of the property and you cannot remove it. Consider yourself lucky if the landlord lets you remove it at the end of the tenancy.

Lastly, make sure that you read the lease in full and ask question before signing.

The price you set for rental should be in line with market demands. Not the bond obligation.

Unless the property was purchased pre - 2004, the landlord will have to subsidize a large percentage of the bond repayment.

Any increase sort will invariably render the property overpriced. So it is a good idea to keep the present tenant as apposed to insisting on an increase, when the chances are you will not get the property let at the new rental price.

Landlords don't dictate the rental, the market does.

When to drop the rental price:

• Upper end of the market: After 7 days, provided you are priced within market value.
• Middle market: By the 15th.
• Lower end: Can be 10 days to 7 days prior.

Listen to the advice of the professionals. Insist on their true valuation. Not the one, where they try to meet you halfway. The risk is yours, so rather start at true market value and drop at the specified time. Like it is not a sellers market, it is not a rental investors market. Rather have the property earning income continuously. If it stand vacant for one month, you have already lost out what you where aiming at. It then just spirals you further into the red. Do the math. Don't be clever, be wise.