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It's important to be very clear to your tenants about what you are willing to permit in regards to decorating your rental property. For example, if you are happy to let tenants paint the walls, but not wallpaper, put it in writing. Having a written agreement that states what you will and will not accept means everyone is on the same page and there is less chance of a dispute in the future.
Schedule a property inspection for when their decorating work has been completed. You can then make sure they did a decent job and kept non-painted areas clean and free of paint splashes (i.e. laminate floors or carpets).
The tenancy agreement is where you put in writing what you will and will not accept. Most tenancy agreements will state that the tenant must return the property to its original state at the end of the tenancy. So, if you are happy to let tenants paint walls but not put up shelves, put this in writing. The more detail the better. Try to cover every possibility in plain English.
Property inventories are a must-do at the start and end of a tenancy, whether you allow the tenants to decorate during the tenancy or not.
Make an accurate description and take photos of the state of the décor prior to the tenant moving in. That way, you can compare it to what each room looks like when the tenant moves out, and if there is a massive discrepancy, charge them accordingly.