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 their own.

Here are some signs to look for that a prospective tenant could not be a quality tenant for your rental property.

Their rental 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.

They maybe 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 last property.

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 your tenant.

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.

Jason Gwerder
Friday, 26 August 2016

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