This is an important reminder that it is our duty of care as a managing agent to ensure that rental properties comply with the minimum legislative standards for the protection of rental provider and the safety of renters.
This includes maintaining the basics such as functioning locks, working kitchen appliances and toilets; providing hot and cold water; adequate ventilation throughout the rooms and heating where applicable; that the property is structurally sound and, more importantly on a serious note that smoke alarms are present, compliant, and serviced as well as ensuring that safety switches meet the electrical safety standards.
As we all know, owning an investment property has become more regulated by the governing powers. We understand that many investors are struggling and experiencing financial hardship in their households in keeping up with these minimum standards alongside the current increased interest rate rises and cost of living.
However, whether we like or disagree with these minimum standards, it is the law in varying degrees across the nation. When reaching out to our investors to ensure that properties comply with legislation requirements, we must act promptly to prevent renters from taking action, as well as potential compensation claims or fines, where applicable.
Managing a property that is not compliant puts our agency and you at risk.
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