Getting a bad tenant can really affect your rental yield as well as your peace of mind.
Here are some red flags from RealRenta to watch out for when you do your next screening:
• If they have a string of short term jobs
A good tenant should have a stable job with a stable income
• They can’t show you proof of income
Prospective tenants should come up with at least 3 months worth of pay slips or bank statements
• They try to haggle the bond
It is actually against the law for tenants to do this and it is most certainly a sign that they can’t afford it
• A lack of independent references
Tenants who have previously rented and don’t have a reference from a property manager or landlord, are not worth your time.
• Rent to income ratio doesn’t add up
The ABS states that rent to income ratios should be between 25% & 38%.
If your prospective tenant is going to be paying more than 30%, this doesn’t bode well for their application.
Smart Landlords can access Bad Tenant Checks via the RealRenta platform .
Join the growing number of Smart Aussie Landlords using RealRenta to cut out the expensive middlemen and see the return on their investment much sooner.
Start your Free Trial now: https://app.realrenta.com/Signup.aspx
Thursday, 11 July 2019