Tenants have an issue? – No, you do!
Keeping a tenant happy in your property is fundamental to maintaining a long-term relationship. It’s more like a marriage than a date and having a long-term approach can save you a lot of money.
Here is a great article from Domain.com.au about Rental Property Repair Responsibility
And this from realestate.com.au: Rental repairs – who is responsible for what?
But here, we’re discussing the reasons why you would want to get repairs sorted – FAST
1. Happy Tenant – Happy Landlord
If a tenant is happy, then they will have less reason to want to move. Saving you money in Letting Fees, Advertising Costs, Property updates to cover Fair wear and Tear, and maybe even a price drop if you’re in the ‘wrong season’ or had a lot of construction in your suburb.
2. Tenants can breach a landlord if a repair is not undertaken in a reasonable time and seek compensation, a rent reduction or lease termination.
3. Attending to small issues can often prevent a major issue from arising, leading to emergency repair costs. That small damp patch on the ceiling could be an indication of bigger issues
4. A well-maintained property will enable you to increase the rent when possible. It show’s that you’ve cared about your tenant and that the property is in better condition than when they moved in.
5. If you decide to sell then the property will be in a saleable condition with very short notice.
Your sales agent will appreciate this and may lead to more or stronger offers.
6. Look to carry out upgrades over time too, e.g. installing new fans, air conditioning, new blinds, painting, new deck etc.
This again assists with building your relationship and a long-term tenant
7. If and when your current tenant decides to leave (it does happen you know) the property will be in a great condition, will be up to date when compared to other properties (your competition) and so lease quicker and for top dollar.
Each week vacant costs the landlord $$$, this is something we at the All Properties Group Rentals Team strive to avoid, having a well-presented home in good condition is vital.
So, please think about fixing that dripping tap, leaking gutter or dodgy lock.
Happy Tenant – Happy Landlord!