Everybody knows how to check a tenant\u2019s references. Don\u2019t they? After all, secure tenancy forms thefoundation of successful investment.<\/p>\n
\u201cIn fact, it\u2019s often a case of a little knowledge is a dangerous thing,\u201d Bellarine Property managing director Christian Bartley said.<\/p>\n
\u201cMany people don\u2019t know which questions to ask and how to analyse the information they end up with.<\/p>\n
\u201cInvestors need to feel confident their property manager is experienced \u2013 after all, maximising investment income is entirely dependent upon keeping arrears, vacancies and repairs and maintenance to a minimum and yield and capital appreciation at a maximum.\u201d<\/p>\n
Mr Bartley said that two most important background checks are previous rental history and employment record.<\/p>\n
\u201cThis sounds straightforward but there are many traps for the inexperienced \u2013 it comes down to knowing what the information means in terms of tenant performance.<\/p>\n
\u201cFor example, tenants might pay their rent up to date upon vacating but might have been a problem during the tenancy.<\/p>\n
\u201cOr someone might be in full-time employment for many years and still not be a good tenant.<\/p>\n
\u201cOne or two factors are insufficient to build up a profile of the prospective tenant.<\/p>\n
\u201cBut too much information might see someone turning away potentially good tenants and ending up with a longer vacancy.<\/p>\n
\u201cLandlords managing for themselves often get too involved to be impartial.\u201d<\/p>\n
According to Mr Bartley, the mistake most inexperienced people make is to rely on personal references.<\/p>\n
\u201cIn all my years of managing property, I have never seen a bad personal reference.<\/p>\n
\u201cFriends and relatives just don\u2019t write negative things about those close to them and even if they do, prospective tenants are not going to offer bad references to landlords or agents.\u201d<\/p>\n
For more information, phone Christian Bartley on 0410 695 325, email christian@bellarineproperty.com.au or head to bellarineproperty.com.au.<\/p>\n","protected":false},"excerpt":{"rendered":"
Everybody knows how to check a tenant\u2019s references. Don\u2019t they? After all, secure tenancy forms thefoundation of successful investment. \u201cIn fact, it\u2019s often a case of a little knowledge is a dangerous thing,\u201d Bellarine Property managing director Christian Bartley said. \u201cMany people don\u2019t know which questions to ask and how to analyse the information they […]<\/p>\n