As an experienced property management agency in liverpool, we do our very best to make sure that we get suitable tenants for our residential rentals. We try to get the best result for our owners in terms of return on investment, low vacancy rates and tenants who genuinely care for their rental accommodation. Most tenants do the right thing because they need somewhere to live that fits their requirements, and they don’t want to jeopardise that.
We have a careful selection process, management systems that make it easy for rent to be paid on time, and an excellent inspection program. A Prudential Real Estate property manager checks the condition of the property before the tenants move in and follows up with regular checks throughout the tenancy. All of this attention to detail is necessary to look after the interests of both the owners and the tenants.
Tight Fisted Owners Don’t See Need for Repairs
Sometimes owners disappoint with a Scrooge-like attitude to maintaining their properties in good repair. It is challenging for a property manager in Liverpool to see the need for money to be spent on repairs necessary for the safety and comfort of the tenant, and for the owner to not see the same need. Both the tenant and the owner are unhappy and the property manager is caught in the middle.
What we do in these situations is talk frankly to the owners in Liverpool about the likely end result if they refuse to allocate funds for repairs and maintenance. We draw their attention to their legal obligations to provide their tenants with safe and habitable accommodation. While we are on the subject of safety, we discuss the consequences of an accident caused by poor maintenance.
Time to Point out the Benefits
This usually does the trick as most responsible and fair minded citizens would not want harm to come to anyone on their property. We then point out the advantages of having a clean, fresh, tidy and well maintained property. Generally we can get a higher rental because the house looks desirable to someone who wants to make it a home.
In the longer term, we advise them that should they wish to sell the property, they will get a much better price for it and increase their capital gain. Any expenses they incur in holding the property are tax deductible and reduce their tax liability. Finally we suggest they check their landlord insurance policy as many insurers will reject claims if the property does not meet the standards of the relevant tenancies legislation.
Once they understand that renting real estate requires on-going investment in property repairs that will benefit them, we don’t have any more problems.
