Tenants are an essential part of the rental process, as without them properties would gather dust. If you’ve invested in a rental property, you’d also be losing a substantial amount of money for each day the property was vacant.
Difficult tenants, however, can be just as bad news. The best technique to avoid a negative relationship is to deal with these problems as soon as they arise, but this isn’t always easy. If you’re unsure about how to move forward, take a look at the following tips:
1.Talk things through with your property manager early on
If you’re using a property manager to look after your investment property, it’s likely that they’ll be the ones who’ve noticed the issue. After they’ve identified it, the best course of action is to resolve the conflict before it has the chance to escalate any further.
Depending on what type of issue you’re facing, your property manager will be able to advise on the best course of action. It will be down to you, however, to make the final decision.
If, for example, your property manager notices minor damage to your investment property, they’ll ask that the tenant repairs it out of their own costs, notifying you of this. In the instance that the tenant doesn’t rectify the issue, your property manager will then have to talk you through the process of claiming the cost of damage from the tenant’s bonds.
2. Make rental requirements clear
As the landlord of the property, you have entered into a contract with your tenant – you supply them with housing, for which they must pay a pre-agreed sum.
Prior to the contract being signed by both parties, make sure your tenant is clear on the rules regarding rent, stating that it must be paid in full each month.
If your tenant is unable or is refusing to pay rent, your property manager will be able to talk you through the formal proceedings which follow.
3. Ensure you receive regular reports on the property’s condition
Property managers are well-versed in the requirements for property condition reporting and will be able to conduct these on your behalf.
Property condition reports are an essential part of the rental process, as they protect you from future conflicts with your tenants. Photos and detailed descriptions will give you a clear record of your investment property’s condition. With this, if there’s any damage left when the tenant moves on, you’ll be able to easily prove whether the damage was a result of their tenancy.
4. Prepare yourself for an escalated dispute
In the event that an issue can’t be resolved between you and your tenant, your property manager can arrange official proceedings in front of an administrative tribunal.
Property managers are obliged to keep records of any agreements, conversations and inspections carried out in relation to your property, which will be incredibly valuable in the event that a dispute does escalate.
The information and links provided on this website are for general information only and should not be taken as constituting professional advice. This information does not take into account the financial situation or particular needs of individual readers. Before making any decisions about matters discussed on this website, you should consider whether it is suitable for you in light of your own circumstances, and seek appropriate advice.