Thursday, September 21, 2017

Landlord ‘blacklists’ – could this be a thing?

We live in an interesting time where online 
peer-to-peer rating systems are becoming the norm - from cafes to taxi rides, no industry appears to be immune, even ours.

Tenants across the globe who are living in 
sub-standard conditions are using digital means to find a voice... and they are being heard.

Websites are popping up where tenants warn fellow renters about certain landlords, and some aggrieved tenants are questioning why there are not landlord databases or 'blacklists' for them to draw upon.

It seems that with the surge of property prices, many landlords have stretched themselves to enter the market - often without a contingency plan or sinking fund. Particularly in Sydney and Melbourne, rents have not kept up with the growth of house prices... and tenants are on 
the receiving end of things.

We've recently heard stories of tenants 
putting up with mould growing on the carpet, ceilings collapsing and living without hot 
water - unfortunately these stories are not 
too uncommon in the industry.

So as a landlord, how can you get ahead of this emerging trend so that your rental property stands out for tenants?

Having a good understanding of the tenancy legislation is key. For example in South Australia, it is a requirement for a rental property to be in a 'reasonable state of repair' and there are also strict requirements for the tenants to be given at least 48 hours notice to enter the property. If not followed, hefty fines can apply, even if you are 
self-managing.

And if you have an agent, it is their role to know the legislation inside and out and do the legwork for you. At Toop&Toop we are looking at new ways to support our landlords, and provide a greater level of service to our tenants. ToopFIX, our national award winning maintenance app is one example of how we're looking to tackle this industry problem.

With one third of the Australian population renting, tenants are looking for quality of service. We feel our role is to provide this to both landlords and tenants, whilst navigating through the legal framework. Creating an environment where quality tenants want to stay in your home for longer, and look after it, will be a win-win for all parties.

If you would like more information or advice, please feel free to give our Property Management team a call. We'd love to chat with you! 



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