Maintenance - Protect your investment
February Property News
Buying a rental property and becoming a landlord can be an intimidating, yet thrilling experience.
Once you dive into property investment, it is vital to employ the services of a professional agency and property manager to guide you through the complex process.
By employing a trusted property manager, the stress of being a landlordis significantly minimizedas they can provide you with all the information you need to make your investment not only successful, but almost stress-free.
The experienced property managers at Oz Combined pride themselves on keeping abreast of all the changes in the industry and providing their landlords with the best service and advice possible.
When you are committing large amounts of money into an investment property, it is vital that you take the necessary steps to protect your investment in case a problem arises.
The first most obvious step landlords should take, when looking to protect their investment is taking out landlord protection insurance.
This insurance covers landlords in an unexpected situation where they may lose rental income or the property is damaged. Landlord insurance is tax deductible and also provides peace of mind for landlords.
While insurance is the best way to protect your property, there are other more practical steps to take which can be even more important.
Ensuring your property is fitted with safety devices like working smoke alarms, electrical safetyswitches and even a fireextinguisher could prevent a catastrophic disaster, which has the potential to destroy your property and more tragically, may take a life.
These devices are relatively inexpensive and allow you to provide a safe environment for your tenants while potentially preventing serious damage to your property. It is often a good idea to replace these items when a new tenant moves into the property.
Carrying out regular maintenance inspections, like annual pest inspections, will ensure your home is protected from destructive pests like white ants.
It is also a good idea to have a yearly building inspection carried out by a reliable professional to ensure there are no potential building defects.
When maintenance is needed on your property, it is very important to attend to the problem as soon as possible to avoid liability.
Attending to maintenance issues promptly will reduce the chance of possible injury to your tenants and could also prevent a small repair from turning into a bigger, more expensive problem.
When work needs to be carried out on your property, your property manager will be able to inform you on the best action to take and they can also recommend aqualified tradesperson who is licensed to carry out the work.
Landlords need to be able to put their full faith in the skills and expertise of the property management team if they want their property investment experience to be as smooth sailing as possible.
For more information about property investing, maintenance or other property management issues, the experienced and friendly team from Oz Combined will be only too happy to help.