Information supplied by HomeSource
Property maintenance should be seen as a way of protecting the value of your asset and of improving your client relationships, not as a costly burden.
Landlord Assist is a property emergency repair and maintenance service. For $399 per annum maintenance labour costs are covered for electrical and plumbing issues. The service is available 24/7 and also covers four emergency repair callouts per year. Landlord Assist is an innovative way to cap property maintenance and emergency repair costs helping to simplify your property management.
The importance of maintenance
Regular property maintenance preserves the value of your asset. A well-kept property can command a higher rent, attract better quality tenants and can be easier to rent out. For a quality result and happy tenants, prompt response time as issues arise and the use of qualified tradespeople is essential. The CTTT received 212 repairs disputes in 2010-2011. Unhappy tenants can result in vacancy or liability. However, even though you do have the obligation to provide a safe and liveable environment for your tenants you also feel an obligation towards your wallet.
Landlord Assist uses only pre-vetted and fully qualified tradespeople. As the costs for this labour are covered it allows you to cost-effectively provide quality service. With this product in place you can avoid DIY tragedies caused by attempting something out of your means. You wouldn’t need to think twice, you (or your tenants if you grant them the permission) would simply call Landlord Assist and have the job done professionally.
If a problem is not addressed promptly, it can escalate. For example a blocked drain or toilet will overflow if not remedied quickly and a leaking pipe can cause extensive water damage over time. With Landlord Assist there is no excuse for not getting the issue resolved quickly. The service offers four emergency call outs per year, that’s 24/7 access to a tradesperson to remedy an emergency within 2 hours of the call. Landlord Assist discourages the lure of a ‘cheap fix’ (by you or your tenants) which could effectively end up costing you more in the long run when the problems resurface. It makes addressing a maintenance or emergency repair problem as easy as possible so that the inertia of facing a problem is reduced.
Property maintenance and emergency repairs can be difficult to budget for as they are usually unforseen expenses. There is a general consensus among property investors and managers that money should be kept aside for maintenance and repairs. Nevertheless the exact calculation is undetermined. If these costs are not prepared for, investors could find themselves dipping into their savings and/or profits.
Landlord Assist allows for simpler cost management as it offers a capped figure for maintenance and emergency repair labour costs. Property investors can use it as a tool for budgeting leaving them prepared for the unpredictable. Furthermore, depending on your circumstances, Landlord Assist can be tax deductable.
The average yearly expenditure on repairs and maintenance according the Australian Bureau of Statics Australian Social Trends 2002 was $1,959. The cost of Landlord Assist is mild in comparison.
“Our tenants had an emergency, they called HomeSource and the problem was solved quickly and efficiently. I saved money and the property manager and I slept through it!” - Susan, NSW.
For more information about Landlord Assist, call 1300 733 420.
The above information is supplied by HomeSource.
Disclaimer: while due care is taken, the viewpoints expressed by sponsors do not necessarily reflect the opinions of Your Investment Property.
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