Martino Property Group

Believe it or not, your investment property isn’t immune to the impact of natural disasters and severe weather events.

Its not something many of us put much thought into, so we wanted to put together some tips to help you better manage the aftermath should your property be affected by Mother Nature at her worst.

  • After the natural disaster has passed, it is important that Property Managers act quickly to resolve the issues. During this time all communications should be in writing if possible, as emotions will be high for Tenants, Landlords and Property Managers. Sometimes the Tenant may not be in a position to give ‘written’ advice of the damage, so be willing to accept it verbally
  • If a Tenant or visitor to the property has been injured, always arrange to have a Tenant Incident Report completed. Insurance companies will need to be advised so seek instructions and act immediately
  • Ensure all repairs and clean up details after a natural disaster are recorded in writing, including emergency advice and all recommended Government guidelines, in the interest of reducing risk to all parties to the Tenancy Agreement
  • Landlords should always ensure that they or their Property Manager has consulted their Insurance Company before proceeding with work.

 

What happens if the property becomes non-liveable?

Non-livability is determined where the premises has been destroyed, or made completely or partly unfit to live in. A Tenancy Agreement does not automatically end where the premises are rendered non-liveable. After a natural disaster, there may be discussions and disagreements with the Tenant if the property is considered to be un-liveable. If the Tenant believes the premises is liveable and wants to stay, you should refer to Dispute Resolution Services as well as relevant legislation. In some cases, the Tenant may be entitled to a rent reduction due to the damage caused by the natural disaster.

 

A natural disaster will bring with it a lot of uncertainty in the days following, it is imperative that all parties are fully prepared to begin the challenging task of communicating information and instructions.

Get the hottest properties straight to your inbox.