The Advertiser - Real Estate

New Year’s resolution­s for landlords

- Paul Edwards, REISA Legislatio­n and Policy Adviser

erty management is strictly regulated by the law – and ignorance of the law is no excuse. A property manager is the expert – they will act as the go-between for you and your tenant and also advise you on all the rights and obligation­s you have as a landlord.

2. Secure landlord insurance. Do not think that it will never happen to you. Circumstan­ces change all the time, and even if you have followed good tenant selection processes, your tenant could disappear at any time, have an out of control party or lose their job and not be able to pay their rent. You must protect yourself against financial loss. or assurances that it is “on the way”. It may well be, but make sure you get the ball rolling as soon as possible.

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