Dispute resolution and your investment
When it comes to owning an investment property, it is inevitable that at some point, things will go wrong, and disputes may arise between you and the tenants.
A qualified and efficient property manager will be well-trained in conflict management and dispute resolution and will largely be able to resolve any disputes on your behalf. For large conflicts that may occur, they will know which avenues need to be taken to achieve a resolution through the tribunal.
Disputes can occur from a range of scenarios relating to maintenance, rent increases, property condition and one of the more common areas, vacate inspections and bond disputes.
Set expectations from the beginning
Like the start of any relationship, it is important to set expectations in the beginning and avoid potential conflict down the track.
Many disputes can occur due to miscommunication and a lack of understanding of the expectations, and this is where it is beneficial to provide information to the tenants at the beginning of a tenancy on the expectations around rent payments, maintenance and repairs, property upkeep and inspections and the vacate.
Find a resolution
Our property management team provide guidelines and thorough information to tenants at the start, throughout and at the end of their tenancy and will address any issues as soon as they arise.
They will communicate with you throughout the dispute to discuss the ramifications of inaction, and compliance with the legislation of both parties and make suggestions that may find an amicable resolution.
A good property manager will also keep thorough notes on file of the timeline of the dispute and how the matter was resolved so that should the dispute go further, they have everything documented to represent you at the tribunal.
Stay on top of repairs and maintenance
A core area of disputes in property management comes from repairs and maintenance and there are certain requirements in each state to ensure that your investment property meets the requirements to an acceptable standard.
It is important to stay on top of repairs and maintenance and your property manager will advise you of future work that they feel may be needed. Capital works may need to be carried out at the property and it is wise to budget for this.
One of the benefits of staying on top of repairs is that it can help achieve a higher rental yield and many of the costs can be claimed at tax time. You will also attract more great tenants to your property if they can see that it is well-maintained.
If you would like to know more about our dispute resolution policy or how our property management team can reduce the stress in your investment, contact us for a chat.