Hands up if you’ve ever just rented a property to a new tenant and the hot water system blows up? How about this one, new tenant moves in and no one can find the mailbox key?
BY EMILY SIM
It’s true, maintenance is a reality of being a landlord… but it doesn’t have to equal pain. I think the key to this is understanding what shape your property is actually in safety and building wise.
I’ve seen many older investment properties in better shape than brand new ones. Brand new means exactly that. Imagine a block of luxury apartments operate perfectly until every apartment has a new occupant actually move in. The lifts get a workout, the size of the waste pipes is tested as every occupant has their washing machine running for days and the security roller door on the under ground carpark is literally going up and down every three minutes to accommodate removalist vans. This is often the reason new buildings require so much warranty work in the beginning and that’s bad news for tenanted property.
How do you find out what shape your property is in?