Rental
property investment, Rental investment Properties,
So you have decided investment
property is right for you lets discuss rental property investments.
As a landlord your responsibilities
as set out The Residential Tenancies Act states that any property
being leased must be fit to live in and that landlords are responsible
for 'fair wear and tear'.
This means that you must act
quickly whenever any repairs are needed - this will not only keep
your property in good condition but will help to avoid disputes
with tenants. All repairs should be carried out by qualified tradesmen.
Any failure to fulfil your
duty of care in providing safe premises for your tenants could
result in loss of rent and or if the tenant suffers some injury
or loss of income you being sued for negligence.
Rental property investment
success.
Rental property investment
success really comes down to having good happy tenants who pay
the rent on time and who look after your property and keep it
in good condition.
Speak to any experienced landlord
and they will often mention it is better to lower your rate of
rent a little to get a tenant who will stay longer term and who
will look after the property.
To achieve this you really
are only going to find out who is a good tenant by either having
a very experienced property manager who knows how to very effectively
screen potential tenants and then sets up the best tenant for
you on a longer term
Or perhaps if you are managing
the property yourself and you know the tenant before they move
in this discuss further at investment
property management.
Rental property investment
repairs
The lease or residential tenancy
agreement outlines the landlord's general responsibilities about
repairs.
The landlord must make sure
that the place offered for rent is reasonably clean and fit to
live in at the start of the tenancy. The landlord must also maintain
the place in a reasonable state of repair.
The lease should distinguish
between what is an urgent and non-urgent repairs. Both are the
landlords responsibility except when the tenant created the damage.
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