It’s impossible to be a property investor without tenants as they help
pay your mortgage.
The quality of a
tenant is very important in the same way the presentation or up keep of the
rental property is also important.
The problem with
allowing the presentation or up keep of the property to decline is so does the
quality of the tenants. This can turn into a vicious cycle, as those tenants may
not look after the rental property. Which could damage the presentation for the
next time you need to find new tenants.
A Good Tenant
A good tenant is someone that pays their rent on
time, stays long term, keeps to the conditions on the lease, reports maintenance
in a timely manner, is respectful and looks after the property as if it was
Here are some signs to look for that a prospective tenant could not be a quality tenant
for your rental property.
history shows that rent payments have been late or inconsistent, they don’t
have quality references or they are unable to pay the bond in fill.
desperate to find accommodation and want the property now. You would need to
find out why as this could be a sign that they have been kicked out of there
You may also look
how they dress, their use of language, their car etc. But one of your best
tools is your gut feeling.
You should never just
put a tenant in the property just because the property is vacant, as this could
just cause a bigger problem for you in the end.
Tenants don’t usually
change their spots. It’s likely that if they’ve been difficult before they will
be difficult again.
It will be your
mental health, cash flow and property that suffers in the end.
There is a better way
There is now a
platform that can help you find a quality tenant. RealRenta.com.au is an online property
manager. You can check the tenant on bad tenant database, you can get a
professional to check the tenant’s references.
You can advertise your
property for rent on multiple sites and tenants apply online, whereby the owner
can manage these tenant applications to find the best tenant.
Once the tenant is
in place, RealRenta tracks the rent,
does your rental invoices and receipts, sends out rent reminders and has an
arrears process of text and emails messages to the tenant and owner, it also
sends out breach notices and notices to leave to the tenant all automatically.
All emails and text messages to your tenant
are logged to stop the he said she said and to have a buffer between you and
RealRenta is a one stop shop for
everything you need to manage your rental property. Tenants can even put in
maintenance requests and owners can then manage the requests. RealRenta even has a partner’s page
where you can find discounts on other services you may need.
Friday, 26 August 2016