|Posted on 24 October, 2019 at 23:00|
1. Ever heard the saying “no news is good news?" That’s not always the case in Property Management! There’s a multitude of reasons why you may not hear from your Property Manager, such as –
• Ceased employment, (yes it’s a high turnover industry sadly!).
• They've reached a point where they’re so overloaded they just haven’t had the time to let you know the hot water system has been leaking.
• Tenant requests have been disappearing into a ‘black hole’.
• Lack of care to proactively work with your tenant to keep up to date with what’s happening at your property.
Unless you trust your Property Manager 100%, no news is not always good news.
2. It’s very common in the real estate industry for an unhappy Vendor or Landlord to give notice to cease management, or, to enter into an open listing to sell. For Property Management, you’re never ‘stuck’ with your agent. Management Agency Agreements provide a clause where you can give notice to cease management – this is usually 30 x days. Whether you have an existing fixed term Residential Tenancy Agreement in place has no impact on your right to cease management.
The Residential Tenancy Agreement is a legally binding agreement between the tenant and landlord, not the tenant and agency, therefore it can be transferred to new management easily.
3. I’ve leased properties to a wide demographic of both low-socioeconomic, and, high end of the market tenants. In my experience, there are good quality tenants in every demographic and price range. Having an experienced Property Manager with stringent application processes in place, and a high level of service to offer, will dictate the quality of tenant.
The quality of tenant is never dictated by your asking price.
4. When making service comparisons between agencies on the regularity of the routine inspections of your property, ensure you base your decision on the experience of the Property Manager carrying out these inspections. Ask yourself -
• If the maximum of four inspections being offered per year is simply a marketing plan to secure your business?
• Will the Property Manager appointed to do these be highly qualified, and, genuinely concerned your property is being cared for?
The regularity of routine inspections are best customised to suit; location of the property, tenant in residence and the age of the property in relation to repairs and maintenance.
|Posted on 21 August, 2019 at 22:10|
The landlord is responsible for pest control during tenancy - false.
• As a general guide, if pests are present on your arrival; i.e cockroaches, spiders and fleas then it is a landlord’s responsibility.
• During tenancy it is generally a tenant’s responsibility.
• Don’t forget, certain cockroaches (i.e. German Cockroaches) love to wreak havoc on the fine electrical components of dishwashers. They normally start in the kitchen so keep an eye out for any damage they might do.
I didn’t return my Entry Condition Report therefore I haven’t agreed or disagreed to anything - false.
• As an Additional Term, where the landlord in compliance with the Residential Tenancies Act 2010 provides the tenant with a signed Entry Condition Report, and, the tenant has not returned it within 7 x days of receipt then the tenant will be deemed to have accepted the condition report.
• Don’t get caught out on vacating – have your say at the start so there’s no surprises in the end.
I don’t have a lease anymore, it expired - false.
• Unless either party gives adequate notice, (in accordance with the Residential Tenancies Act 2010) in the lead up to the lease expiring then the lease automatically falls into a periodic agreement.
• All the same conditions apply until the agreement is terminated, or, a new agreement is entered in to.
My dog only lived outside and didn’t have fleas therefore I don’t need a flea treatment on vacating - false.
• Residential Tenancy Agreements will provide a clause stating that the tenant agrees to have carpets professionally cleaned and property fumigated where animals have been kept on the residential premises regardless.
• Ensuring the property is sufficiently fumigated, along with proof of receipt, gives the landlord and the next tenant peace of mind.
If anything is missed in preparation for my exit inspection I am automatically entitled to go back - false.
• Never assume you will be automatically entitled to access a property once possession is given.
• During the exit inspection “If the agent or landlord raises something that is minor, you may be able to deal with it on the spot” Source: NSW Fair Trading.
• Speak with your agent prior to your exit inspection about any queries on fair wear and tear or damage you’re not sure about.
• Good, open communication between all parties prior to your exit inspection will pave the way for a speedy bond refund.
Sources; NSW Fair Trading, Residential Tenancies Act 2010, Residential Tenancies Regulation 2010.