What to Do When Your New Investment Property Reaches Practical Completion

Reaching practical completion on a newly built investment property is an exciting milestone but it doesn’t mean the home is immediately ready to lease.

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Before you can list the property and start earning rental income, there are a few key jobs to tick off. 

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These tasks generally sit with the owner, not the builder, especially if you’ve purchased a house-and-land package or built in a new estate.

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Here’s how to get your new investment property tenant-ready, faster.

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9 Essential Tasks After Practical Completion

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1. Letterbox and clothesline

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Most builders don’t supply these basics. If they’re not included in your building contract, purchase and install a letterbox and clothesline as soon as possible.

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2. Exterior lights

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You’ll need to buy and install lightglobes for any exterior lights as builders won’t typically include these.

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3. Bins

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In a new estate you’ll usually need to order wheelie bins yourself. Contact your local council to arrange delivery of the rubbish, recycling and (if applicable) green FOGO bins. These can take up to 2 weeks to arrive, so ensure it’s done well before a tenant moves in.

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4. Landscaping

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If you're building an investment property in a new housing estate, the developer will usually give you a voucher to engage a landscaper to complete the front yard. In most instances, the backyard will be included in your contract with the builder, but it’s best to check.

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5. Prepare for landscaping

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When using a voucher from the developer of the estate to landscape the front yard, you’ll need to prepare the area. This includes ensuring the site is:

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• Clear of rubble and weeds
• The area is levelled.
• The driveway/crossover is completed
• The driveway conduit is installed.
• Boundary fences and retaining walls are completed
• All paving is completed.  

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6. Security doors and side gates

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Side gates and security doors are rarely included in new builds, yet tenants expect them for privacy and peace of mind, or if they have pets. Organise installation to help protect your property and reassure prospective tenants.

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7. Dishwasher

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When building in a housing estate or a house-and-land package, your property probably won’t come with a dishwasher. To meet tenant expectations and make your property more appealing, arrange supply and installation before leasing.

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8. Insurance

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Before taking possession and collecting the keys, organise appropriate cover such as landlord insurance to protect your investment from day one.

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9. Cleaning‍

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While the builder will clean the property before handover, it’s generally best to engage a professional cleaner to do a more comprehensive finish.

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Bonus Tip 1: Make the Most of Your Practical Completion Inspection (PCI)

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The PCI is your final opportunity to inspect the property before the builder formally hands it over.

Use it to identify defects or unfinished work that must be rectified.

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For clients based interstate or overseas, our team often assists with PCI, providing video walkthroughs and checking cosmetic details such as paint chips or faulty fittings.

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For a more thorough review – covering issues like missing insulation or structural concerns – we recommend engaging a qualified building inspector.

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If issues are found, the builder typically has 14 days to rectify them before a second PCI is arranged. 

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Once the PCI is signed off, you can make the final payment and collect the keys. 

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Only then can the process of photographing, marketing and holding home opens begin.

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Bonus Tip 2: Don’t Overlook Your Warranty Period

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Most builders provide a 6–12 month warranty on the build.

Before it expires, thoroughly check for issues such as hairline cracks, peeling paint, faulty doors or flooring problems.

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Know which items are covered by the builder (for example, a leaking toilet) and which have separate manufacturer warranties (such as appliances). 

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Many builders offer an online portal to help you track and lodge warranty claims.

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Avoid Delays and Start Earning Sooner

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By taking these steps promptly, you’ll avoid unnecessary delays and start generating rental income sooner.

Remember: most of these jobs can only be completed after you have the keys, as builders typically won’t allow owners on site until handover is finalised.

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With a clear plan for those final tasks, you can move seamlessly from practical completion to listing and leasing your investment property to maximise returns from the very first tenant.

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