Landlords Returning to the Market

Australian Property Monitors predicts that rents will rise more this year than last, as rising costs of purchasing and owning homes force people back into the rental market. A good article in today's Sunday Telegraph recaps the costs and problems inherent in owning an investment property. Repairs and maintenance can be a significant element, especially if you don't have a good property management department managing your property. Real estate agents with just junior staff trying to coordinate repairs are at the mercy of contractors who can easily inflate repair bills by claiming major work is necessary when cheaper alternatives exist. A tenant of Ray White Beecroft real estate reported damp in a basement wall, and the first builder called in by the property management department recommended virtually a rebuild of the adjoining patio to improve drainage. Calling in a second opinion, a simple change to the guttering system seems to have eradicted the problem for a few hundred dollars. Do your property management officers have the background to judge which solution was best?