If you’ve bought your first investment property you will naturally want it to appreciate in value and produce income for you over time. Hopefully you are planning to keep the property long term because that is the only way it is going to deliver a significant profit. Maintenance is ongoing and essential. You cannot escape it and to ignore it is folly. If you have literally just bought the property then it should be in good condition - compliant with statutory regulations regarding electrical safety switches, smoke alarms and, where applicable, pool fencing and safety glass in the bathroom. If for any reason the sellers escaped the cost of attending to these things, you must do so right away however there are other less obvious and seemingly minor things that tend to be overlooked and can be controversial with regard to who should pay.
1. Leaky Taps
Before you offer the property for rent, check all the taps for leaks or any that are hard to turn off (or on for that matter) – outdoors as well as indoors – and replace the washers. Most Tenancy Agreements state that the tenants are responsible for replacing tap washers. Seems fair since they are turning the taps on and off all the time but hang on – few tenants are in a property for several years and if they cop a leaky tap and an order to replace it themselves they may just do that by getting to work with a wrench, damage the tap and/or put the wrong kind of washer in (which doesn’t cure the drip). On the other hand they may try to avoid the cost of repair by screwing the tap down so hard that the seating is damaged. Either way, it can end up with the tap having to be replaced and the ultimate extra cost of a new tap is on you. We recommend that you use a handyman you trust and pay for this yourself
2. Blocked Gutters
Gutters are another owner/tenant issue. In my opinion if your property is surrounded by tall trees, you should pay to have the gutters cleaned out each year. Tenants won’t initiate this and are rarely instructed to do so meanwhile the gutters happily fill up and no-one notices until there is a problem. Ignoring clogged up gutters means that rain water can’t escape via the downpipes as it should so it runs back under the eaves causing those nasty brown or mildewed patches or allowing water into the roof space from whence it may seep through and stain the ceiling. The cost for an average house is currently around $150 – cheaper than having to repair a damaged ceiling
3. Blocked Drains
This one is quite clear cut. If blocked drains are caused by tree roots getting into the system, the owner pays however when there is a collection of hair from the shower or grease in the sink, the tenant pays. Similarly with toilets – excessive use of toilet paper or other material flushed into the system from inside – the user (tenant) pays; outside e.g. tree roots or fractured pipes – the owner pays.
