The saying that a happy tenant is a good tenant rings ever so true. A good tenancy, just like any relationship, works best when both parties feel the arrangement is fair and everyone is genuinely doing their best to honour it.
For the tenant, it's an affordable and well-positioned property that is maintained in good functioning order.
For the landlord, it's a tenant who pays rent on time and doesn't damage the property or generate complaints from neighbours.
As a landlord, you can multiply the happiness factor, and achieve a higher rent by offering your property purpose-built for renting. Tenants appreciate sturdy and operational fittings and fixtures.
At the start of the tenancy we set out the tenant’s responsibilities to the agreement. With that comes an expectation that the property will be well maintained. The signature on the tenancy agreement can be read as satisfaction with your rent, the property and lease terms.
During the tenancy, if the toilet starts to leak or the oven is not working, happiness will only be maintained if these things are fixed promptly. Simply put - care for your investment and your tenants will too.
Too often, tenancies go sour because something can be easily fixed is left unaddressed. How you respond is key to maintaining balance in the relationship.
If the tenant chose your property because the complex has a gym or swimming pool, but the body corporate falls down on maintenance, there is often little you as landlord can do to rectify complaints about broken equipment, faulty lifts, visitors' cars blocking the driveway or other quality of life issues. To this end, in order to maximise performance of your investment it is important to take an interest in the body corporate’s affairs.