The Weekend Post - Real Estate
MANAGING PROPERTY
IF you have a self-managed rental, be smart for the best chance at success.
Managing your own property is a fabulous way of saving agent’s fees and many landlords do it. But the smart landlords employ an agent.
Why? Because agents are informed and know the laws. Do you know the following facts?
Tenants with a bad record are registered on a database – all agencies have access to this database – you don’t. A tenant with a bad record will not rent through an agent.
Legislative changes are notified to all agents through industry journals and internet alerts.
Compliance certificates for pool, smoke alarms and electrical throw out switches are mandatory. Failure to comply will expose the landlord in the event of an accident. Ongoing routine checks at regular intervals are also mandatory. Do you know the law?
The price you pay to a managing agent is the best insurance you can buy.
Do you know your rights if the tenant damages the property or falls behind in his rent?
Ninety per cent of rental inquiry comes from real estate internet sites.
All work must be done by a certified tradesman.
The industry often hears of owners doing their own “handyman work” – those who will get round to fixing the pool fence in a while or repairing the broken airconditioner one day. You risk everything if you don’t comply. Your insurance will not cover you if you have failed to maintain the property as required by legislation.
The price you pay to a managing agent is the best insurance you can buy. Be a smart landlord and phone a reputable agent today.