One in three Queenslanders rent their home and throughout most of regional Queensland, especially in areas such as Whitsunday, Mackay, Rockhampton and Gladstone, rental stock is in plentiful supply, which means landlords are competing for tenants.
Landlords who want to achieve good rental returns should have a regular maintenance schedule to ensure their property remains in good condition.
This is also a matter of necessity due to the requirements of the Residential Tenancies and Rooming Accommodation Act.
This legislation requires that at the start of a tenancy, a residential property should be clean and fit for a tenant to live in and that the premises and inclusions are in good repair. This obligation extends throughout the term of the tenancy.
Landlords must be prepared to commit to an ongoing maintenance schedule and any ongoing costs associated with this.
As with your own home, a certain amount of wear and tear is unavoidable. During a tenancy, property managers may recommend a repairs and maintenance program to a landlord to ensure the property remains in its best condition.
Examples of planned maintenance can include budgeting to paint internally every five to seven years; cleaning gutters regularly; ensuring adequate tiling in the kitchen, laundry and bathroom areas; and replacing floor coverings every seven to eight years.
To ensure the safety of tenants, and to reduce the likelihood of small maintenance problems becoming big serious ones, it is critical that property managers have a reliable maintenance system in place.
The system should begin with the initial notification from the tenant, which is followed through to payment for completion of the work by a licensed professional who has adequate professional indemnity and public liability cover.
It is also a legal requirement that property managers keep landlords informed of any developments or issues in relation to their property.
Information sourced from The Real Estate Institute of Queensland Ltd