Friday, August 20, 2010

General Tips

There seem to be reoccurring themes which crop up. The best way to avoid disputes or to establish fair and equitable relationship is:

1.If you are a landlord or tenant, ensure you have seen a copy of the estate agent’s fidelity fund certificate. Your letting agent or property manager must be registered with the Estate Agents Affairs Board.

2.Ensure you have a written lease. This protects all the parties if a dispute regarding the parties responsibilities arise.

3.If you are the tenant, read the lease agreement. Many lease agreements vary in the rights and responsibilities of both the landlord and the tenant. Specifically examine the rent due, breach and maintenance clauses.

4.If you are an estate agent and landlord – DO NOT hand over the keys to the property unless the deposit and 1st month’s rent is paid and cleared in your bank account. This sounds so simple and yet TPN has noted that it is still common practice resulting in enormous financial losses.

5.And of course use TPN to credit vett all incoming tenants… we still see spouses hiding behind each others credit profiles no surprise when the rent payments dry up.

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