Managing your own tenants is not a job for the faint hearted as there are many things that can go wrong on the road to wealth.
Prevention is far better than cure and ensuring the tenant and property are tightly managed will minimise the chances of small issues becoming BIG costly problems.
Mr Jones brought his property to Investors Edge after he experienced his own private landlord nightmare.? He was frustrated with having to manage his previous property manager so decided he would be better off doing it himself and saving the money. However in trying to save on the cost of professional management he nearly cost himself many thousands of dollars.
Every landlords worst nightmare
Can you imagine what it must be like to walk up to your property and upon entrance you are greeted with tape holding up the glass panelling beside the door. You proceed inside to find that the carpet has so many spots it looks like a Dalmatian dog, you continue through to the kitchen to find several kitchen cupboard doors unattached and propped up.
Things don?t get much better down the hall way, with spotty carpet continuing through the house entering into the first bedroom which smells of stale cigarettes?so bad you need to leave the room!
The third and final bedroom which once resembled a sweet child?s room now has a massive orange stain to the carpet and the paint has been pulled off the wall in several places.
You?re probably thinking things cannot get any worse, right? Wrong! Out the back the gardens are completely unkempt and overgrown .The pathways are full of sand & leaves and the built in BBQ is missing several tiles.
Where to begin?
Where do you begin, there is problems in just about every room of the house, a new tenant cannot move into this condition, who will cover the rent? How long will this all take to fix up? There are just so many things that flow through your mind.
Cleaning up the mess!
I was the property manager assigned to this mess but was eager for the challenge and to fight for our new landlord. A laborious job laid ahead of back and forth phone calls, negotiations, emails and final demands.
It started off with invoicing the old tenants listing all of the damages and rent for the period the property was uninhabitable with the total amount that has to be paid.
You are wondering what kind of a reaction you will get back. Will this ever get paid, will we end up in court, will they offer to pay $10 per week and be paying it back for the next 3 years.
Nightmare over
Two weeks pass and finally we start to make some ground with the previous tenants accepting responsibility. The first steps moving forward were the tenants signing the whole bond over, great! They have continued to make weekly payments at a decent amount and it will all be paid off in 3 months? time.
The landlord can finally sigh a breath of relief and is ever thankful for the help of Investors Edge!
We have now leased the property to a quality tenant that we will be keeping a close eye on them to best ensure that this situation is prevented from happening again.
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