subject: Rental Properties: The Law About Maintaining Them [print this page] There is no question that rental properties can produce very lucrative income for savvy investors. However, you have to put a lot into them if you want to get a lot back. Routine maintenance not only keeps your properties looking great, it helps you maintain the letter of the law, too. Learn a little more below.
The Benefits of Regular Maintenance -
By maintaining your rental properties, you are more likely to attract long-term tenants. Any property management company will tell you that long-term tenants are vastly preferable to those who come and go quickly. Regular maintenance also helps keep major repairs at bay, saving you a great deal of money over the long term. Periodically inspecting the premises of your rental properties is the best way to keep them in tiptop shape.
What the Law Says -
There are many fine points concerning the law when it comes to maintaining a rental property. For one thing, it must always be maintained so that it is fit to live in. If problems arise that make a property uninhabitable, you will be breaking the law in Australia. Your tenants have the right to live in a place that is safe and pleasant, which is why these laws are in place. Besides, letting a problem go only means that it will be that much more difficult to contend with later on down the line.
Rental properties must also be kept in good repair. This basically means that the property must stay in same condition as when the tenant first moved in. That is, of course, barring any egregious damages caused by the tenant. One point that many people are confused about concerns inclusion items. Things like dishwashers and refrigerators must be kept in good repair, if they were originally included on the property at the time the tenancy agreement went into effect. Make sure that you are prepared to maintain whatever appliances and other items that you keep in your rental properties.
Emergency Maintenance -
Certain problems must be addressed immediately when it comes to maintaining a rental property. The law dictates that a landlord must be able to have emergency maintenance performed as needed. All other forms of maintenance should be conducted within a reasonable period of time. For this reason, it pays to have a good team in place to handle such issues. You can either engage your property management firm, alternatively employ contractors. This won't just keep your property in good repair - it will help you adhere to the law, too.
