Local Market Landlord Update
In a challenging rental market our team have been busy again this month renting 20 properties – with local vacancy rates high we are proud of this effort. It is a timely reminder though to our Property Investors that if you currently have a good tenant treat them like gold as they are saving you money in vacancy and re-letting costs.
We thought we would take this opportunity to remind our Property Investors of their obligations under the Residential Tenancy Agreement of what constitutes an urgent repair and requires immediate attention – Division 5 section 52 of the Residential Tenancies Act defines urgent repairs as:-
- A burst water service,
- An appliances, fitting or fixture that uses water or is used to supply water that is broken or not functioning properly, so that a substantial amount of water is being wasted,
- A blocked or broken lavatory system,
- A serious roof leak
- A gas leak
- A dangerous electrical fault
- Flooding or serious flood damage
- Serious storm or fire damage
- A failure or break down of the gas, electricity or water supply to the residential premises,
- A failure or breakdown of any essential service on the residential premises for the hot water, cooking, heating, cooling or laundering
- Any fault or damage that causes the residential premises to be unsafe or insecure,
- Any other damage prescribed by the regulations,
Please be aware that if any of our team ring you regarding any of the above repairs, it is of vital importance the repair is completed as soon as possible. Failure to do so can result in the tenants being able to make the repair themselves at YOUR cost using a tradesperson of their choosing. It is far better for us as your Managing Agent to arrange and be in control of the repair and this also reduces your exposure to compensation claims.
At the Elders half yearly awards last month our team was again Number 1 for lettings – so we must be doing something right! We believe our service to our Landlords of providing them with 30 day premier listings on realestate.com.au is contributing to our success in the letting market (this is a free service to all our Property Investors).
For more local market information click on our August update here.
About Jhai Mitchell
Jhai is an award winning Internet Marketing Real Estate Agent for Elders Toongabbie and Kings Langley. After running his own internet marketing business he has now set his own sites for the real estate industry. He observed that 90% of real estate agents did not know how to market themselves online. Jhai is now fixed on one goal. To teach real estate agents that they can market online so much better than they currently are.
Since then he has been consistently quoted in the Sydney Morning Herald and Real Estate Business online. He is a regular guest blogger on TheHomePage.com.au, sharing his expertise of marketing aspects for the Real Estate Industry. His biggest passions are his wife, martial arts, dogs and most of all property.