10 Apr 2014

Rights and Responsibilities of Tenants and Landlords

Do you own an investment property? If so, it’s a good idea to use the services of a professional when renting it out, as trying to do it yourself could end up costing you both in time and money.

At Noosa Property Management, we take care or all the statutory regulations and management of your investment property.

A residential property managers’ sole job is to manage rental properties, carrying out many of duties from finding tenants and ensuring rent is paid on time, to organising repairs and dealing with any day-to-day problems that might arise.

While you may like the idea of having a close relationship with a tenant of your choice, it is worth considering what might happen if the trust and friendship between you breaks down – as it can – and you find yourself unable to deal with a person in a situation that is less chummy than it was.

As professionals, property managers can deal fairly and equitably with both you and the tenant in your property. They know the market and will be able to negotiate rent increases for you, they can advise you on what sort of insurance you should have and they can make you aware of any safety breaches you might be committing, if your property is unsound in any way.

Tenants and landlords both have rights and responsibilities during a tenancy agreement.

Understanding these general renting rules helps avoid problems.

General renting rules for tenants are as follows:

  • Pay rent on time
  • Keep the place clean, tidy and undamaged
  • Keep to the terms of your tenancy agreement
  • Respect your neighbours’ right to peace and quiet

General renting rules for lessors or managers are as follows:

  • Respect tenants’ privacy and comply with entry requirements
  • Carry out repairs and maintenance
  • Meet all health and safety laws
  • Lodge bond with the RTA

Noosa Property Management are professional property managers and if you'd like to chat with us about managing your investment property, please call us on  0411 278 324.