Maintenance and risk minimisation for investment properties

Constantly changing legislation creates a need for us to refine and update our procedures. What was common practice in our industry just a few years ago could now be considered at best risky – at worst illegal.

Many of our clients who have been with us for a number of years will query our changes of procedures, and this is understandable as change is often confronting and annoying.
Please be aware that the core motivation behind our policies is to protect your best interests through the challenges that face property investors of today.

One area in which investors face the highest level of risk is property maintenance. I don’t think I need to explain the dangers of having unqualified persons attend to repairs at your property. This is why we ensure that all trades people we send to your property are suitably qualified and insured.

There are often instances when our Lessors opt to send out their own trades people, which of
course is no problem – but before they attend, we will request them to fill out our Contractor Appointment Form which will specify their qualification and insurance details.If you are a local owner, you may decide to attend to the repairs yourself. In such an instance, as part of our company’s risk minimization policy, we will ask you to sign a waiver, accepting responsibility for the work carried out.

This may sound overly cautious for some Lessors, but agents who fail to set up these sorts of
policies are putting both their business and their clients at a huge risk. After all, a repair job done incorrectly could lead to more cost for the Lessor and an unhappy tenant – or worse, an injured tenant. If this happens and the agent and Lessor end up getting sued, no-one is the winner.

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