Landlord Rights And Responsibilities

If you own a rental property then you are on your way to extra financial freedom. If you are aware of your legal rights and of your tenants, then being a landlord should be a fairly simple task and you won't be in for any shocks. When property management is done correctly you can enjoy the help with debts that an extra income can bring. Whilst your tenants have obligations when renting, in turn you have obligations to your tenants as long as they reside in your property. Safeguard yourself against issues over maintenance and repairs and get to know the rules.

Happy tenant, happy landlord -

The Residential Tenancies Act 1987 and Residential Tenancies Regulation 2006 are put in place to protect both tenants and landlords. This way, it is harder for each party to dispute who is responsible for certain items and any problems are fixed with minimal fuss. Renting real estate is made simpler thanks to this. If you take care of your tenants needs as required, then you should enjoy your property being rented to people who do the right thing by you.

Some advice on your role as a landlord -

As a landlord you will probably utilize the services of an estate agent to manage the property for you. Whilst all care is taken by the real estate to ensure smooth sailing on your rental, you still have a few items to take care of. Making sure the property to be rented is tidy and suitable for living in should be top of your list. Taking into consideration of course the age of the property you should ensure that any repairs required have been taken care of prior to tenants moving in. Fumigation for pest control needs to be done also. Urgent and non-urgent repairs are your responsibility too. Once you have received notice of repairs required you must act on this accordingly. If you don't respond in the case of an urgent repair or have been uncontactable then the tenant has permission to have repairs done. You then are expected to pay for costs, within reason, up to $1000 within 14 days of their notice, providing certain criteria has been met to make the claim.

Renting your home through property management will help have your rental property run to its full potential. A fair and honest landlord is more likely to reap the rewards from having an investment property, and in most cases, good tenants. If you are ever unsure of the legalities, your property manager will be happy to answer any questions.


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Starr
Partners Real Estate http://www.starrpartnerscampbelltown.com.au/ offers
friendly service and property management Sydney. Real estate Sydney rental
properties have guidelines for landlords and tenants alike to aid in hassle free
rentals.