Top ten property management tips

Tuesday, 16th Nov 2010

 Income protection

Over the years a lot of myths about “landlords” and “horror tenants” have evolved, but as a general rule of thumb, “A happy tenant makes a happy landlord”. To assist in achieving this we suggest the following:
1. Don’t be afraid to have a look at your property once a year. Make sure this is with your property manager. Keep a professional distance from the tenant (their relationship is with your property manager, not you) to avoid becoming an involved third party.
2. Attend to repairs promptly. Apart from keeping the tenant happy, owners have an obligation to tend this. Maintaining your property on a regular basis can also in many instances avoid costly expenses down the track.
3. Ensure spouting, trees and any dangerous items are removed from the property and/or cleaned up.
4. Don’t leave personal belongings in the garage, a locked shed or room at the property once a tenancy has commenced.
5. Avoid going to the property without your property manager.
6. Should you have a pool or a spa, ensure fences and gates comply with local council regulations.
7. Seek advice from your property manager to make sure the tenant’s rent is in accordance with the current market conditions.
8. If you are going away, ensure your property manager is aware of an alternative contact person you trust to make decisions about the property.
9. Have a professional builder, electrician and pest controller inspect your property as required to ensure there are no structural, electrical or pest issues.
10. Ensure the property is clean and that the gardens are neat prior to the commencement of all tenancies.

Many of these tips may seem like common sense however sometimes it is the simple things that can be overlooked.