Property Rental Risks That Go Unnoticed

After completing legal requirements and securing tenants, landlords and property managers often then concern themselves with rent, maintenance and repairs.These are important aspects of property management, but there are specific factors that are commonly overlooked, particularly for first first-time property owners.

This is a list of risks in rental properties that typically remain unnoticed. Disregarding these risks can not only lead to legal issues, but could possibly lead to injury as well as setting back the property’s value.

Conducting an inspection of a newly purchased property is a must if you want to prevent these risks. Take a moment to read through and when you are making an inspection, you will be able to note issues and have the options ready to address them right away.

Smoke alarm and safety switch compliance

Safety switches exist in homes in the case of a small earth fault or an electrical circuit. These switches are designed to stop electrical supply so that the risk of electrical shock is reduced. Meanwhile, smoke alarms should be fitted in all rooms, including hallways, of residences.

Landlords and property managers should make sure to check state legal requirements regarding the installment and standards of safety switches and smoke alarms in residential properties.

Blind cord compliance

Blind cords can often be overlooked as they might seem harmless. However, they are the most common cause of strangulation among children in Australia. As a result, a new safety standard was mandated in 2015. The professional installing blind cords in your property rental should be aware of these standards.

Pool fencing regulations

Our climate allows us to enjoy outdoor activities all year round, but especially during summer, tenants may want to put up pools. It is a landlord’s responsibility to protect tenants from dangers posed by pools. This also includes portable pools. A barrier or fence must be provided and should be regularly maintained. Different regulations are in place for different states and territories, so landlords must comply with these standards wherever the property may be located.

Electrical wirings

Faulty electrical wirings should be checked by a licensed professional. However, while you’re conducting an inspection, warning signs to look for are: the brightness of lights varies; fittings are discoloured, melted or cracked; excessive noise or sparks from light switches; and fuses or circuit breakers blow continually.

Lead

Lead is highly toxic and can cause severe health problems. If pipes contain lead, they can contaminate the water. It was not until 1989 when lead soldering pipes were banned in Australia, so check your property’s history. Additionally, lead can also be found in paint. Paint containing 50 per cent lead was still sold before 1970. Licensed professionals should be contacted for the testing and removal of any parts of the house containing lead for safety.

Asbestos

Another material to be cautious of is asbestos, which is potentially present in properties built before 1990. The important thing to know about asbestos is not to touch or disturb it as it is only harmful when inhaled. However, this does not mean it should just be left alone. There are laws concerning the removal and disposal of asbestos, so consult with or hire professionals prior to handling the material.

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About the author: Lauren Robinson

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