September 13, 2018 at 3:23 PM

 

 

 

There is more to an owning an investment property than finding tenants, collecting rent and organising maintenance.

 

Tenants are becoming more educated and aware of their rights. What can seem like a small oversight can end up being a very costly exercise.

 

Ensure that you are educated and well versed with the Residential Tenancies Act and all other relevant Acts and Regulations involved in owning a rental property.

 

Take this simple quiz to evaluate whether you are doing everything you can to protect yourself and your property and maximise the return on your investment ....

1. Do you know how to avoid damage to your property?

2. Is your Landlord insurance adequate?

3. Does it cover for not only loss of rent and malicious damage, but for ‘death of a tenant’?

4. Have you increased the rental price of your property in the last year?

5. Is you tenant in arrears?

6. Do you have a procedure if your tenants get into arrears?

7. Are your tenants being served the appropriate notices on time and are these notices filled out correctly?

8. Does your property comply with things such as safety switches, smoke alarms, insulation and fencing?

9. Do you have an Insulation Statement and Smoke Alarm Statement in your Tenancy Agreement?

10. Are you completing regular property inspections as per your insurance requirements?

 

Protect your investment and yourself!

If you need help managing your property and finding new tenants or you have any questions about Residential Rentals property management, please do not hesitate to contact us at Residential Rentals Ltd.