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PM_Maximising Your Investment

Considering managing yourself? If you are at all considering managing your own investment property then it’s wise to consider the following points: • Do you possess a thorough understanding and knowledge of the Residential Tenancies Act in order to maintain a fair and professional relationship with your tenant? The tenant may be entitled to compensation if you inadvertently breach their rights. • Do you understand a Landlords obligation under other acts affecting a tenancy? Discrimination, consumer protection, building and other statutes all impact a tenancy. • Asking the right questions and gauging the candidate’s response is only one component to the process. Property managers understand there is more to consider when assessing a tenant. It’s a trained professional that can assess a candidate’s suitability, with thorough checks and an interview process; we leave no stone unturned in the search for a quality tenant. • Do you realise that as a private landlord you do not have access to tenancy default databases? Tenants listed on these databases are forced to rent privately. www.harcourts.com.au • Do you know how to lodge your tenants’ bond money in accordance with current legislation and the required time frames? If you fail to comply you could be liable for heavy penalties • Do you know the right procedure when dealing with rental payment arrears? Have the correct notices been issued with the required days calculated for the notice period? If not your notices may be compromised. • Do you have a concise knowledge of The Residential Tenancies Act to effectively represent yourself in Court? The procedure must be precise. If you are ill prepared with non compliant documentation, invalid notice periods or lack of evidence, justice may not fall on your side. Minor mistakes may cost you dearly! • Could you successfully terminate your tenancy and recover possession of your property without the need to go to Court? • Do you know the correct procedure, the right notices to issue and the correct time frames? PROPERTY MANAGEMENT


PM_Maximising Your Investment
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