Until you own property, it’s easy to fall into the trap of assuming it’s a ‘buy, rent and forget’ type of investment. There are tenants to keep happy, rules and regulations to adhere to, and a property to maintain.
Getting a plumber in to fix the pipes isn’t hard. But when it comes to making sure your tenants feel at home, that’s an ongoing job. After all, you’ve got your own house and family to take care of, and this can get very time-consuming.
Dropping your own responsibilities to keep your tenants satisfied can become a serious burden. But there are professionals who allow you to have the best of both worlds – the property manager.
Common problems for tenants of Adelaide Hills properties
According to tribunal organisations across Australia (including SA), here are the top six reasons why tenants are unhappy with landlords.
- Rental bonds
- Lease agreements
- Repairs and maintenance
- Rent increases
- Rights and obligations of each party
- Notice periods
One of the main issues that affects both tenants and landlords, on an ongoing basis, is repairs and maintenance. The hot water system breaking is obviously the landlord’s job to repair. Tenants want responsive landlords, quick repairs, and quality tradespeople.
But what if the house comes fully furnished and the washing machine stops working? Who’s responsible for rectifying this?
100% clarity in rental property agreements is important. Make sure there’s no grey areas. Tenants and landlords should both know who’s responsible for what.
Interestingly, in NSW and VIC, eight in every 10 complaints come from the landlords, not tenants. Can you guess the main topic of dispute? Money. And more specifically, bonds.
Here’s the top six, from the owner’s perspective:
- Bond distribution
- Compensation in excess of bond
- Possession of the property or termination of lease
- Rent in arrears
- Tenants breaking their leases
Remember, a property manager protects both parties – you and your tenants, to make sure your investment (and their home) is sustainable for years to come.
A property manager is the necessary bridge between tenants and landlords. You’ve most likely spent years, even decades, saving for his investment home. Ensuring your tenants stay loyal to your property will only help to increase this asset.
If you own one or more rental properties in the Adelaide Hills, talk to our property management specialist team.