Things that keep landlords awake at night
Updated: Apr 9, 2020
Owning an investment property is a substantial commitment but one that can provide many benefits, if approached carefully and thoughtfully. In this article we address some of the major concerns landlords face and how we can make you rest easy at night knowing your investment is in very capable hands.
Do you worry about your tenants not paying your rent?
Concerns over rent being paid on time can become a major stress point for property owners relying on the income. It’s an issue that we address as soon as as it lands in our action centre. If the tenant falls into arrears, your property manager should have connected with the tenant prior to a breach notice being sent for non-payment of rent. If the tenant still doesn’t pay rent after receiving the first notice, a second notice should be sent to terminate the lease and request vacation from the property. At Active Agents we understand how you start the tenancy is generally how it will end up and education with our tenancy handbook occurs prior to the tenants moving into your investment property covering our rent arrears process.
Do you worry about your property being vacant for a prolonged period?
Having a rental property unoccupied can place significant strain on an owner’s cash flow. Presenting a well-managed property may help to broaden your pool of prospective tenants, reduce time and money spent on advertising and decrease the number of days your property remains unoccupied between tenancies. We have a strong digital component to every property campaign, ensuring prospective tenants can discover your property anywhere, anytime.
Do you worry about the lack of communication and transparency from your property manager?
There is a sizeable amount of documentation that goes with being a landlord and left unchecked, it can build up and become a burden. A good property manager can save landlords from potential paperwork headaches by managing the administrative side of the investment property for them. In 2019, we have seen many programs hit the market in Property Management and our Active Agents portal supports the latest technology in this space. Ask for a demo today!
Do you worry about ongoing maintenance issues and property expenses?
Leaky taps, broken tiles and repairing faulty appliances can create headaches for tenants and landlords. If skimp on maintenance with quick fix solutions, we often find that it actually costs them more in the long run. Do-it-yourself fixes can result in substandard workmanship and legal liability claims if there is an injury or loss resulting from a safety hazard that has not been addressed. We have a database of suitably qualified tradespeople to ensure you are
Do you worry about the state of your investment property?
No landlord wants to wake up to the news their property has been trashed. While most tenants do the right thing, there is a minority that violate their lease agreement by behaving poorly or undertaking illegal activity at the property. Some tenants may breach their pet policy, fail to adhere to noise requirements or smoke at the property. Although it’s a rare issue, other tenants may use the property to distribute or manufacture illegal drugs. Tenants involved in illegal activity go to great lengths to hide their activities. Routine property inspections can help mitigate these risks by identifying problems before they escalate.
At Active Agents, we believe in providing superior service to all. To find out more about the Active Agents Advantage, book in a meeting with Tara today.