Evidence of meth risk is there for people to see – if they choose to do so
There are many property managers and real estate professionals who have experienced first hand how their physical health and well-being is affected by properties with meth residues present. Even where these are low level.
Others have not. And this group tend to be somewhat skeptical of the health risks associated with meth. Somewhat understandably given their person experience.
So what are the risks outside of health and well-being?
Setting aside the risks around health from meth residues in property, there are other factors associated with meth residues in property that need to be considered. Meth residues only get into a property when meth is used, manufactured or stored there. This means, that people associated with the murky world of meth are present. And these people, tend to have a few behavioural issues!
What does this mean for the property manager/landlord:
- Tenants associated with meth, are more likely to be harder to manage – more aggressive and abusive. This increases the challenges and costs associated with managing a property and the stress on Property Managers.
- Tenants associated with meth care more likely to be violent – this increases physical risk to Property Managers and to the property itself. Setting aside contamination risk, physical damage to the property is more likely. This increases landlord repair and maintenance costs
- Tenants associated with meth are more likely to have trouble paying the rent – meth is an expensive habit. People who use meth will often feed the pipe before they feed the kids. So, paying the rent can easily become a secondary concern. This increases financial pressure on the landlord.
- Tenants associated with meth are more likely to resort to manufacture – this is a known route to getting their hands on the drug. Even the Gluckman Meth Report acknowledged that this was an issue people should be aware of.
- Tenants associated with meth, are more likely to leave behind meth residues – the presence of meth residues can affect the desirability of that property at the time of sale. Reduced desirability = compromised asset value.
Limitations of Standard Property Management Practices
Standard property management practices have limited efficacy when it comes to deterring people associated with meth from renting a property. This is why every award-winning property manager in the country, has had to deal with challenges produced by people associated with meth.
This is not the fault of the property manager. It is a testament to how devious people associated with meth can be. However, a myth too many property managers seem to wish to promote, is that no bad things happen when they are looking after a property.
Self Interest or Client Interest?
What does a property manager’s stance on meth risk say about whose interests they are focused on?
We deal with many high-quality property managers who recognise the risks resented by meth. We have worked with them to help develop systems and processes to support their client needs.
The party in a property manager/landlord transaction that bears the greatest risk is the landlord. Keeping meth out of their properties, is clearly in their best interest.
One of the challenges for property managers, is that dealing with meth is hard work. Hard work that they don’t get paid any extra money for.
What this means, is that where managing meth risk is concerned, a property manager has highly conflicted interests. The best property management professionals manage these conflicts effectively. They are a great example of best practice.
It is to be hoped that the push toward training and qualifications in the property management industry, clearly reflects best practice and the need to put client interests first.
Wants and Needs
Nobody wants meth to be a problem in this country. But it is.
Ducking the issue may work in the short term as far as work load is concerned. However, it increases the longer terms risk tenants associated with meth present to the landlord and the property management business.
Even if the decision around management of meth risk is to do nothing, the decision itself should be a conscious one. Landlords need to understand:
- MethRisk is real
- Standard property management practices are limited in terms of what they can achieve
- Active MethManagement of property in conjunction with MethSolutions reduces risk
- Meth residues in property compromise asset value
How are you helping your landlords make conscious decisions around MethRisk?
Contact our team to discuss how we can support you in putting your client’s interests first.