If You Are a Landlord, Here Are Your Responsibilities and Obligations!


Freedomrealtors1175

Uploaded on Mar 4, 2022

Category Real Estate

A landlord has a duty towards the safety of rented property and its assets. This has been dictated by the law itself and it is of utmost importance that there is no injury or damage to the tenants or even the neighbors residing by the property. Read more information regarding landlord responsibilities through our website. Visit: https://freedomrealtors.com.au/if-you-are-a-landlord-here-are-your-responsibilities-and-obligations/

Category Real Estate

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If You Are a Landlord, Here Are Your Responsibilities and Obligations!

If You Are a Landlord, Here Are Your Responsibilities and Obligations! A landlord has a duty towards the safety of rented property and its assets. This has been dictated by the law itself and it is of utmost importance that there is no injury or damage to the tenants or even the neighbors residing by the property. This is the very basic responsibility of a landlord. But there are some things and factors in addition to the common law, which also fall under the landlord’s responsibilities. Let us see what are those. Landlord Responsibilities Include: Maintenance of the house, its structure, and its exterior. Ensuring that installations such as gas, electricity, and heating are working. Taking care of the installation and appliance maintenance. This applies only to the appliances that a landlord owns. Immediately treating potentially health-threatening issues such as rising damp. Everything and anything else that is included in the tenancy agreement. All of these are some of the obvious responsibilities of a landlord. Being an owner is more than just collecting rents and maintaining the property as mentioned above. But there are even more important things to do like building and maintaining relationships, communicating, and creating mutual trust. If you are looking for one, then contact the best property management company i.e., Freedom Realtors. Below are some of the top landlord rights and obligations in Australia. So, if you are looking to rent out your home or if you are considering purchasing an investment property, then this is for you. Keep reading! Entry Rights as a Landlord Even though it is your property and you have rights to see it anytime you want, let me tell you that you actually CANNOT pop in whenever you feel like. Being a landlord, you can only enter the premises under certain circumstances. For instance, in the case of an emergency, or with the consent of your tenant. Other reasons you can enter your house are for conducting a routine inspection. But even for this, you will have to notify the tenant in advance. Also, you may have to enter the property occasionally on short notice. In such a case too, you will have to inform the tenants beforehand. Repairs and Maintenance Anything that needs repair or maintenance must also be taken care of by the landlord. Occasionally you may also be contacted by your tenant or property manager advising that you are going to have to repair any object in your rental property. While some of these may not be urgent, others may need to be attended immediately. As a landlord, it is your duty to provide and maintain the state of repair during the tenancy. If the tenant causes any damage at the premises, they will be responsible for the repairs. There are some special provisions that apply only for urgent and emergency maintenance. As a landlord, you are only obliged to undertake repairs, and not the updates. The repairs and maintenance which are non-urgent do not include changes a tenant simply desires. For instance, requesting a new carpet or a fresh paint, unless the tenant negotiated this before moving into the property. However, you will have to respond to the request without causing any delay. If you do not do anything, your tenant has the right to arrange for these repairs to be completed up to a certain value that too at your expense. In case, you have no idea about what comes under urgent repair, it is suggested to consult your property manager or you can even consult your local consumer affairs office. Utilities and Bills This is quite interesting. When are you going to be responsible for paying bills such as water, electricity, or gas. Okay, so, tenants are only liable for services that are separately metered for their use such as water. You as a landlord are liable to pay for most other charges such as land taxes and council rates. Security and Locks on Rental Property This is obvious and also really important. Landlords are responsible for providing rental property in a secure condition with locks on doors, windows. The landlord must give a copy of keys to the tenants in the beginning of the tenancy itself. The Rent As a landlord, you have the right to request rent either on a weekly, fortnightly or monthly basis. With both the bond and rental payments received, landlord should provide detailed and signed receipts which states the date, amount received, name of the tenant, property address, and duration for which it has been paid. Successful tenant selection is a skill and this is the time where an experienced and a professional property manager can help. For stress-free and excellent services, you can contact the best property management company in Melbourne. For that, contact Freedom Realtors. Why Hire Property Management Company? The real estate management company helps in handling all the necessary paperwork. You get tons of free consulting from an expert (property manager) who potentially knows the neighborhood a lot better you would do. They are responsible for following up whether the tenant pays their rent on time or not. Management companies are experts in handling repairs and maintenance. They know how to act upon such things quickly and inexpensively. Your property is managed better than you could ever imagine. You do not have to manage the whole operation on your own. You stay stress-free and you still get the revenue. As a landlord, you will have to be a jack of all trades—and master of all as well. Registering the Bond As a landlord, you take a bond from your tenants as a security deposit. Right? In case the tenant fails to keep the area well-maintained or even cause any damage to the property, or if they don’t pay rent on time, you can claim some or their entire bond at the end of tenancy to compensate for the loss. In such a case, you should make sure to forward the bond to your state’s residential tenancies bond authority which will hold the bond for the tenant and landlord during the tenancy period. This is something your property manager can also do on their behalf. Cases when you cannot claim the damage is in the next example. If the appliances you have provided to your tenants are not sparkling new anymore but are working well, you cannot claim the bond unless they have been damaged. Generally, you can make a claim on the bond for following reasons: Any damage caused by the tenant or the tenant’s visitors. Any cleaning expenses. If the tenant abandons the premises. Loss of any landlord’s goods. Unpaid rent. Rent and Increase Rent can be paid weekly, fortnightly, or monthly as mentioned above. However, if rent is paid weekly, you (landlord) cannot ask for an increase more than 14 days when the tenancy period begins. You cannot increase rent anytime you want to. If you have a standard lease, you might want to wait until the end of the fixed term to increase the rent. Generally, you cannot increase the rent more than once every six months. Also, if you are increasing the rent, you must give your tenant at least 60 days’ notice of any changes. Being a landlord is not only a walk in the park. It takes time and effort to keep your property up and running. The above- mentioned rules and regulations are in place to guide you and help you manage the rental in a bit easier manner. In case you have any concern, it is suggested you talk to a professional property manager and discuss the concerns about managing or maintaining a property. A property management expert will help you make better decisions for your investment property. GET IN TOUCH 1 Raphael St, Hallam VIC 3803 047 637 2002 [email protected] Content Resource: htt ps://freedomrealtors.com.au/if-you-are-a-landlord-here-are-y our- responsibilities-and-obligations/