Moving into winter and toward EOFY here are our top 5 tips for landlords.
- Have your gutters cleaned and any potential roof leaks attended too. Victoria is notorious for a rainy old winter. It is very common for blocked gutters to overflow causing water damage to ceilings and walls. Issues like this can very quickly become invasive, time consuming and expensive to fix. Disrupting the lives of your tenants and damage to your property will not only cost you a fortune in maintenance but could also result in losing a tenant and loss of rental income- so check those gutters folks!
- If your tenant is month-to-month consider getting a fixed term lease in place. Winter is the slowest season on the rental market, very few people are moving and it can take longer to find a suitable tenant if your house happens to become vacant during this period. So give yourself the security that your property will remain tenanted and that your income will be undisturbed whilst the market is slow.
- Get those heaters serviced people! It’s Geelong, everyone’s heater is about to get it’s intense yearly workout. You’ve all seen the Ads “Carbon monoxide, the silent killer”, these ads are not overstatements, carbon monoxide kills hundreds of people every year and it is SO avoidable by simply getting a gas safety check carried out by a licensed technician.
- Provide heating for your tenants. Lack of decent heating is a very strong motivation for someone to move to a new rental. Install heating before tax time and not only can you claim the cost back at EOFY but you’re also investing in a positive relationship with your tenant. A proactive approach like this, which improves your tenant’s quality of living through these cold months, generally results in a tenant who will look after your property and remain there longer term.
- Any larger maintenance items that you’ve been putting off, get done now, before tax time. You’ll have a happy tenant for remedying the situation as well as a claimable expense come the end of June.