Top Fundamental Principles of Effective Maintenance of Property Subject to Lease

Diversification of roles is happening far and wide. Today, the role of a property manager has emerged as one of the functional aspects in the realty industry. Property managers are offering multi-level tasks that are governed by fundamental principles. Also, these are supposed to address queries many tenants face. 

Understanding Tenants 

The most vital part of property management is about understanding tenants. Good tenants are not rare; however in order to be successful in entering into a contract with a tenant who appears reliable and good, a property manager will do the screening on behalf of the landlord. He will take all the responsibilities to verify, whether a particular tenant is eligible to rent a property. In order to ascertain whether the tenant is reliable, a property manager will consider the key factors as mentioned below: 

• Credit checking 
• Evaluating references from previous landlords
• Face to face interview 

After checking these parameters the property manager will be able to determine whether a renter is good enough to be given the opportunity to rent a property. 

Adhering to the Lease Terms 

Verbal agreements have never led to successful results. Hence everything should be in writing to avoid discrepancies in later years. In order to avoid misunderstanding which can happen due to lack of documentation, it is important that the property manager should get the lease written and signed by both parties for clarification. Also this will mean that both parties accountable for owning and renting the property should adhere to the lease norms. In course of this, the property manager may also include clauses pertaining to residential Property Maintenance in Karratha. To ensure that both parties agree to the rental amount and expenses pertaining to maintenance of the property, the property manager will make sure that the lease agreement is signed as per maintaining the laws of the region. 

Responding to Requests Concerning Repair of the Property 

Another vital role played by the property manager is response to property repair. It is of utmost concern for the landlord to provide their tenants with a well equipped property which is at the same time decent and welcoming. Properties lacking basic features or amenities are a big turn-off. Moreover, landlords should response to needs for repair. This will make it easier to retain tenants as happier renters will rarely look further for a better option. Also, it is a potential way to reduce costs that are likely to arise when searching for new renters. The property should be in sound shape to satisfy potential tenants. 

Understanding Notices 

Even though rare, but it’s hard to overrule instances where tenants mislead landlords. In case of coming in contact with bad tenants, which can happen even after thorough screening, the landlord should evict them on valid grounds by including the eviction principles in the lease agreement. Other than eviction, notices can include subject lines concerning change in ownership or management of the property, repair or renovation related matters. Also other subjects related to Building Maintenance in Karratha can be taken into consideration when drafting notices. 

These principles are meant to help both landlord and tenants stay abreast with property leasing principles and allow property managers to execute them. 

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Created on Jun 22nd 2020 09:01. Viewed 221 times.

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