The Weekend Post - Real Estate - - Front Page -

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.

No has­sle: Adam Gowlett of McCoy Homes aims to take some of the worry our of sub­di­vid­ing a par­cel of land.

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