One of the most common complaints we hear from new investors is that they thought they could manage the tenancy on their new property themselves only to come unstuck with the choice of who should live in it.
It seems like any easy transitional step in the process of property investment. Buy the house, fix it up if it needs it, and then find the tenant.
If you are a half savvy investor you have done your homework and selected a property that the rental market is demanding. It may be close to shops, public transport and schools. Perhaps it has an extra bedroom or granny flat or even a swimming pool. Whatever you feel the market is insisting on at the time. For some, they have purchased a property that is walk in and walk out. This means there is nothing to do to the property and it can be advertised as available straight away.
For others, they have picked themselves a diamond in the rough and intend to pretty it up before releasing it to the market. This may include a new kitchen or bathroom, new floor coverings or curtains. The addition of a carport, lockable shed or even a fence may be what is called for.
When it comes to finding a tenant it is something that needs careful consideration and the assistance of a reputable agency in Macquarie Fields such as Prudential Real Estate .
What Can We Do That You Can’t?
The solid truth is that any property manager worth his or her salt will hold subscriptions with either or both of the following:-
- Tenancy Information Centre Australia (TICA)and the
- Trading Reference Australia (TRA).
TICA & TRA both provide information in relation to a prospective tenant’s rental performance. You can obtain rental history, including unpaid rent and bond forfeitures as well as any damages that have been incurred including photographic evidence.
They will also more than likely possess a membership with Dun & Bradstreet or someone similar to conduct a credit history check.
And What Else?
We have also surrounded ourselves with a team of people who can come to our assistance at any time of the day or night.
By this we mean reliable contractors such as electricians, plumbers, and carpenters.
Our staff possess a good working knowledge of the Tenancy Act. We understand the importance of entering into a formal written agreement and the necessity to document everything clearly and concise.
