Keeping a harmonious situation between investment owners and tenants is vitally important. Not only does this make for a stress and hassle free agreement for each party, it means the property or business will run better too.
The whole point of buying an investment property is to generate extra income and/or provide financial freedom. If there are issues arising due to ‘bad blood’ or anything else, then it defeats the purpose of the owner putting hard-earned money and time into the property.
On the other side of the scale, tenants want to be happy where they are living, not angry or annoyed at how things are handled. When you are paying off someone else’s mortgage it helps if you don’t feel bitter in any way towards the owner.
Here are some tips on keeping a good relationship going between the two parties.
Don’t DIY
The best tip for investment owners is to not run this show on your own. You likely have enough on your plate without dealing with the stress of property management. It is also likely you don’t have the legal knowledge or experience to successfully and efficiently run the property on your own.
With a professional by your side like our team at Prudential Real Estate in Ingleburn, you will be one step ahead of any possible issues arising at all times.
Don’t let things slide
As an owner, it is very important to attend to maintenance and repair issues as soon as possible. If your Ingleburn property manager reports to you some repairs or work that need attention, don’t delay if you can.
If you put things off your tenant can become disgruntled at the inconvenience. You should also keep in mind that avoiding certain repairs can be a breach of your contract.
As a tenant, if you notice anything that should be seen to such as a leaking tap or broken bathroom tiles, then you should report these ASAP to your agent. While certain things may seem little to you they could end up being bigger issues down the track.
Therefore, any kind of breakage or repair should be reported to ensure you don’t cost the owner more in the long run.
Respect and boundaries
In any interaction you have in life with others you should always give respect and honour boundaries. A couple of examples are that owners should not show up to the property unannounced without the correct notice given. Tenants should take care of the property and not cause wilful damage.
Between the two parties there need to be realistic expectations and respectful communication. Let our office in Ingleburn Prudential Real Estate take care of your needs so that you can enjoy the agreement whichever side you are coming from.
