What is “fair wear & tear”?

Posted by Michelle

The concept of fair wear and tear on rental property is one topic that many property owners and tenants find confusing. Generally speaking, at the end of a tenancy, the tenant is responsible for leaving the premises in as close to the same condition as they found it. To describe this requirement, many lease agreements include the phrase ‘fair wear and tear excepted'. The word ‘fair' in the sentence relates to the cause of the damage. For damage to be reasonable, it must have occurred in the course of fair use of the property.

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Understanding Landlord Insurance

Posted by Michelle

In my experience, very few property owners take the time to carefully read and understand their insurance policies. Who can blame them, up to 100 pages of fine print! You may think you're safe as long as you keep paying the premium each year. Think again! Many property investors are not aware that they need additional cover for tenant related risk. Often they have not been advised that eneral building insurance will not cover damage caused by the tenants, be it intentional or accidental.

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Vacancy before poor selection

Posted by Michelle

Our philosophy is to find the best possible tenant in the quickest possible time, to ensure that we are maximising your rental income. However, if tenant demand is low, it is far better to have the property vacant an extra week than to approve ANY tenant just for the sake of having the property rented.

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Looking for a property manager?

Posted by Michelle

Do you have an investment property in the Launceston area? Or do you know of an investor that requires a professional property management service? If so, don't overlook Launceston's most exceptional property managers. @home Property Management Solutions is Launceston's only truly independent property management company solely focused on the needs of property owners, investors and tenants. We pride ourselves on delivering the highest standards standards of property management service. You will never be in the dark with @home, we communicate effectively by ensuring we understand individual needs and expectations.

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