Property Investor Newsletter May – June 2017
In this newsletter we cover important property management topics to keep you informed and maximising your rental income and optimising your capital growth.
FRIENDSHIPS AND VERBAL AGREEMENTS
Friendships and verbal agreements entered into by the landlord directly with the tenant [without the agents knowledge] start out with the best intentions; however, from experience it can ultimately affect the relationship between all parties, if there is a dispute during the tenancy.
WHEN PREVIOUSLY GOOD TENANTS CAN TURN BAD
It is one of the greatest fears for a landlord – having a bad tenant in the property potentially resulting in lost rent, property damage and delayed periods of time to gain vacant possession of the property.
We see it often in the news and media ‘The tenant from hell’.
CHANGE OF BANK DETAILS - IT MUST BE IN WRITING
If you want to change your bank details, it’s our agency’s policy to receive the request in writing signed by all the registered property owners. This is to protect our clients. There have been cases of landlords separating or family disputes where one party has requested the change without the other parties being aware.
THE HIGHER RENT LOWER INCOME
Many landlords who lease their property often have a mindset of ‘holding out for the highest rent’, thinking the sky is the limit in a competitive rental market. Many even do this if it means losing several weeks of rental income, with an over-priced and sometimes assumed rent without substantiating evidence.
THINK BEFORE YOU THROW
DISPOSING OF APPLIANCES More often than not a rental property will have the inclusion of appliances such as a dishwasher, microwave, fridge, dryer, air conditioning and heating units, to name a few. When they breakdown or attract large repair costs, landlords can suggest disposing of the appliance/s without replacement