Information For Landlords

 

Property Management & Guides

A few thoughts on purchasing and managing investment property… Property represents a very secure, sound, long term form of wealth creation. As such, many people are turning increasingly to property investment to secure their future. A well managed investment can offer many advantages including income and capital growth. Many investors may also be able to use their investment to reduce tax payable on their assessable income. Property is also a good option as part of an investment portfolio, particularly with people who do not need immediate access to their money and wish to protect themselves against inflation over the long term. It is important, however, to be aware of the responsibilities of managing your property investment and assuring proper care and responsibility. As considerable money is at stake, you need to take the time to get good advice before you act - and remember, consideration of any investment presents wide and varied alternatives and there are always plenty of experts ready to pass on their opinion. It is wise, therefore, to always seek appropriate advice from a qualified financial advisor or your accountant.

 

Routine inspections

Routine inspections are conducted on a regular basis after a tenant takes possession of the property. 

The first inspection is carried out 6 weeks after the beginning of a new tenancy and then every three months after that. These inspections are essential to ensure that your property is being maintained to an acceptable standard and to identify any maintenance that may be required. A copy of the routine inspection report is forwarded to you after each inspection and should it be necessary, a member of the Augurum Property Management Team will contact you to discuss items noted on the report.

 

End of Month

At the end of every month all monies held, unless instructed otherwise, are paid to you by way of EFT to your nominated bank account. A statement is also issued at this time outlining the debits and credits that these funds have been made up of. Please see the attached end of month payment calendar for all your payment dates.

 

Repair and Maintenance

The Landlord must make sure that the premises are reasonably clean and fit to live in at the start of any tenancy. The Landlord must then maintain the premises in a reasonable state of repair. Urgent repairs must be arranged as soon as reasonably possible after having been notified by the tenant of the fault or damage.

 

Smoke Alarms

Landlords are responsible for fitting smoke alarms to all residential premises. The landlord is also responsible for replacing the battery at the commencement of each tenancy and to attend to any necessary repairs or replacement throughout the tenancy should the alarm become faulty. The tenant is responsible to change the battery throughout their tenancy unless they are physically unable. 

 

Landlord Insurance

Our office strongly recommends that you take out a Landlord Protection Insurance Policy. Please feel free to contact our office if you wish to discuss this insurance policy further.