Are Landlords Putting Tenants Lives at Risk?
It’s rather disturbing to hear stories about Landlords putting their tenants’ lives at risk. Not only does it involve liability and safety issues, it also involves legislation and regulatory authority’s procedures and systems. This leaves us wondering how often does this happen and could it be avoided?
According to an interview by Real Estate Dynamic, a Residential Tenancy Authority (RTA, QLD) Representative highlighted a few interesting statistics:
- There are about 2,205 disputes filed at the RTA per month. This averages at 105 per day
- 50% of these tenancy disputes are Bond related
- 30% are related matters
- The remaining 20% are compensation claims
These disputes could have been avoided if independent inspections had been performed regularly. Seek an expert who is fully trained to conduct routine inspection to avoid future disputes.
Whether you’re self-managing or a Property Manager, remember that an Independent Routine Inspection is an important process that must be carried out regularly, in order to protect the assets of the Landlord or Investor.
Being Landlords and investors ourselves, we are aware of the impact of negligence. For instance, we know that a small, insignificant leak at the base of the tap could travel down the cupboards and through the wood floors when the damage goes unreported for a long time. This could waste a lot of money and leave the Landlord scratching his/her head.
Entry Condition Reports and Exit Reports
Ever wondered why more and more Property Owners are moving to 3rd party inspection providers? Let’s face it; the number one cause for disputes involves the security deposit / bond. Because of this, property owners and managers find themselves stuck in the middle between the tenant and an authority such as the Office of Fair Trading. We tell them to simply refer the authorities to us if they have any concerns about the result of our inspection.
There should never be a need for disputes if the proper inspections are performed on a routine basis.
Information from RPIA