Do your homework!
It’s probably been a while since we’ve heard these three words, and chances are many of us happily assumed we’d never hear those words again. But just as not doing your homework at school could get you into some hot water, the same can be said about not doing your homework when it comes to choosing a place to rent. Nobody wants to be sold a lemon, and sometimes all it takes is a little research to determine whether you’ve found a bargain or a headache.
A recent article by American journalist George Gombossy provided an excellent demonstration of how harnessing the power of Google and doing a little research about a property or apartment can save a whole lot of hassle. He describes a 1,000-unit apartment complex that looks and sounds fantastic. The complex boasts amenities like tennis courts and a large swimming pool, allows pets, and has a reasonable range of rental options. While on the surface the place looked great, Gombossy did a little research and found the place to be quite the opposite.
Start by Googling the name of the property or apartment complex you are looking at, and also the property management company if it’s not privately managed, and see if there are any reviews online. People are very good at remembering their bad experiences, and so are more likely to write a review if they have something to complain about. However, Gombossy points out that the problem with online reviews is that they are generally one-sided; very rarely do both sides get to plead their cases equally, so a bad review here and there doesn’t actually mean much. The thing to watch out for is a pattern where the same issues are discussed, as this shows that it’s not just one person’s rant but the opinion of many. There certainly was a pattern with this apartment complex.
There were a number of different complaints that all pointed to one thing: poor management. The swimming pool was never cleaned or moderated, so complete strangers would jump the fence and use it without permission. The buildings all leaked and routine maintenance to the complex was completely ignored. When maintenance issues and repairs were brought to management’s attention, they were put off for months before anything was ever done. One former tenant complained in her review that people barged into her house to do repairs, ripped out half a wall and left. It was two weeks before they came back to complete the repairs. Also management would regularly enter people’s apartments without their knowledge or consent, which isn’t only rude but illegal.
Living in this apartment complex sounds like a real nightmare. But the good thing is that this situation is very avoidable. Always do some research into the place you’re looking at renting, and find out as much as you can about who is going to be managing the property. If there’s nothing online, make sure you find out who manages the property or apartment and ask them questions. There can never be too many questions to ask when looking for a place to live, and all good property managers would love to provide you with the answers. Also try to talk to current tenants to find out if they’re happy. As Gombossy points out, “the next apartment will be your home, make it a castle, not a source of headaches”. So do your homework!
George Gombossy’s full article can be found here.
Filed under: For Bodies Corporate, For Tenants Tagged: | bodies corporate, body corporate, body corporates, Company, Company Structure, Government, homework, Investment, investment property, landlord, Landlords, legislation, Oxygen Property, Property, Rent, Rental, Rental property, Renting, research
