The consequences of property damage or rent delinquency by tenants can be devastating for landlords. However, there are proactive measures that property managers and landlords can take to minimise these risks.
In today's rental market, property managers are seeing a rise in rental applications. Despite the larger pool of potential tenants, accurately assessing applicant suitability remains a challenge.
Here are some recommendations:
Property managers have experience in evaluating prospective tenants. Follow a thorough application process, including reference checks and utilising the National Tenancy Database. Trust your instincts and investigate further if any concerns arise.
A well-presented rental property that is easy to maintain attracts high-quality tenants. Encouraging landlords to make minor renovations or maintenance, such as painting or gardening assistance, helps maintain property value and attracts desirable tenants.
Property managers and landlords must not discriminate based on gender, age, race, religion, marital status, sexuality, parental status, mental illness, pregnancy, or disability. However, applicants can be excluded based on past rental history.
Comprehensive insurance protects landlords against tenant misconduct, property damage, and rent loss and defaults alongside accidental damage. Choose a policy that covers these risks to safeguard your investment and ensure a steady rental income.
For property managers who are not authorised with direct insurers, they can still inform property owners about landlord insurance by providing brochures and flyers. However, property owners must complete and sign the proposal forms personally and submit them via email to us.
Property management businesses can become referral partners with Angelic Insurance for technical advice and claims advocacy. Call us today to learn more.
Source:https://www.terrischeer.com.au/terri-scheers-top-tips-for-choosing-the-right-tenant/
October 25, 2022
October 25, 2022
October 25, 2022
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