Acting as a landlord, whether you're managing one property or several, requires careful planning to ensure you don't hemorrhage both time and money.
The following tips and techniques are provided as general advice only and may help you to better manage your investment property.
All the steps you take to ensuring you get the right tenant is time well spent. It may take some time sorting through applications but it could save you money in the long run.
The information contained in TenancyCheck.com.au website is general information only and does not constitute legal, financial or compliance advice. As the laws relating to tenancy agreements may have changed we recommend you check with the relevant State or Territory government department. We also recommend that you obtain your own independent legal advice about matters relating to landlord obligations, tenant rights and any legal disputes you may have with a tenant(s).
Regardless of how carefully you screen prospective tenants before signing on the dotted line, tenancy disputes will arise from time to time.
If, after much consideration, you opt for a private rental agreement rather than leasing your property via a real estate agency or property manager, there are a number of factors to consider.
A rental bond, paid by the tenant to the landlord or agent, is a form of security that's held at the Renting Branch of the Office of Fair Trading, the Office of Rental Bonds, or the Residential Tenancies Fund for the duration of the rental agreement.
The tenant who respects your real estate, repairs any damage they cause, and pays the rent on time is the Holy Grail for landlords. Once secured, the property owner will inevitably ask: Now that I've found good tenants - how to keep them?
Bad tenants are the stuff of nightmares for a landlord trying to self-manage an investment property. Forever in arrears or refusing to pay rent altogether, damaging your property, and disturbing the neighbours . And then there are those who know how to ruthlessly work the system.