good reference when the tenant moves out .
Furthermore , quarterly inspections must take place to ensure that the property is maintained in the manner it was handed over . Should an agent at this time notice that a tenant is destructive within a property , steps for rectification or vacation must be implemented .
There is a fine line between a tenant damaging a property and fair wear and tear . Damage caused by a tenant must be rectified and paid for by a tenant . When a tenant exits , and depending on the length of the tenancy , landlords often have difficulty accepting that maintenance and fair wear and tear are not the tenant ’ s responsibility . It therefore follows that an investor is advised to make a provision for a maintenance budget .
Landlords should also not renew a lease without re-qualifying a tenant at a financial level . If there is one thing Covid and the current financial climate clearly demonstrates is that an individual ’ s income can change overnight through no fault of the individual , but puts into question their ability to service their rental commitment .
Emarie Campbell Cape ’ s Western Seaboard Area Manager Pam Golding Properties
SA Real Estate Investor Magazine SEPTEMBER 2022 95