Are you at risk?

Whether you choose to self-manage your investment or employ the services of a Property Manager, it is important that you work within the bounds of current legislation.

There is a temptation to twist something to better suit us or to create a better outcome (and I’m sure at some time or another we have tried).

Or maybe we choose to be lenient with a tenant, with rent arrears for example, because we sympathise with their circumstances. You choose to cut the cost with maintenance as you have a ‘mate’ who is handy, or you choose to let it go because it is not serious enough.

Any one of these situations may be enough to put you at risk and jeopardise the outcome of an insurance claim or a tribunal outcome, should the situation arise.

Legislation that may seem harsh is there for the protection of both the landlord and the tenant. Not serving the appropriate notices to a tenant when they are behind, not giving adequate notice for entry to a property, short cuts in your approach to maintenance may mean a claim not going your way, or you not being covered to the full extent of the policy.