Nightmare Tenants: Why is Tenant Screening so Important?

Everyone has heard nightmarish tales of bad landlords. But what about nightmare tenants?

Today, there are more people renting for longer periods than ever before. As property prices continue to rise, fewer people can afford to buy, which creates a large pool of long-term renters.

With more people renting for longer periods, it’s inevitable that landlords and property managers will encounter more problem tenants.

Thorough and proper tenant screening helps to stamp out problem tenants.

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What do property investors need to know before the EOFY?

The end of the financial year is fast approaching. And for property investors, this means getting organised: assessing your investment performance and preparing your receipts for the lodgement of your tax return.

Whether you own one rental property or several, the key to a smooth EOYF is organisation. No property investor wants to pay their tax accountant to sift through a shoebox full of receipts.

Get organised, and give your accountant a well prepared financial record and summary of any expenses. If you misplace a receipt or invoice, the ATO allows you to substantiate your claims with a bank statement. This preparation will cut down on their time and also your bill.

But before property investors prepare their records and get their receipts in order, they first need to know what they can claim as an expense.

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Five most common complaints and concerns for landlords

As a landlord, you want the best tenants for your properties. But invariably, even the best tenants have demands. And responding to requests, queries and maintenance issues can be time-consuming and stressful. This is where a good property manager can assist.

Property managers are a third party that act as an intermediary between the landlord and the tenants. They listen to the complaints and concerns of tenants, and resolve issues to ensure both parties are happy.

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How to find the right property manager to lease your property?

Leasing your property, whether it’s an office space or apartment, is about determining market rate, finding the right tenant, minimising vacancies, and maximising the return on your investment.

Achieving this on your own as a landlord investor – and keeping up with the many other related tasks of property management – can be time consuming and difficult.

Finding a dedicated and experienced property manager to assist you, is often the best option to ensure you get the most from your property.

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