The Property Investors Duty of Care

Posted 17th September 2014 by managewp

The recent deaths of five children in rental properties throughout the country has highlighted the need for a greater awareness of the maintenance required in rental properties, in particular the maintenance and state of repair of timber decks, balconies and hand railings.

If someone is hurt or suffers a loss in a rental property, they will seek and have been seeking compensation from the property owner.

Our routine inspection reports detail the tenant’s cleanliness and care of the property and makes note of preventative maintenance that is suggested, however, we are not qualified to make an assessment of the risks associated with areas such as decks, balconies, glass, steps, hand rails and safety switches.

Accordingly we suggest that a contractor be appointed to make an assessment of the property and report the risk and state of repair of these areas in order to minimise your risk and minimise the risk of injury to a third party.

In the age of litigation that we are in, it is paramount that property investors have a pro-active approach to reducing their risk by arranging a regular due diligence program on the state of repair of their investment property.

Not only will having a building assessment report assist in mitigating your loss should there be a public liability/injury claim lodged against you, it will also highlight areas of preventative maintenance that will actually save you money in the long term and will also give you peace of mind and the potential of higher rental returns.

We can arrange for an assessment to be undertaken on your behalf or you can appoint a builder or a qualified contractor to report as to the state of repair and any estimated cost involved in rectifying these areas.

Share this article:

    Comments

    Write a Reply or Comment

    Your email address will not be published. Required fields are marked *