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Probable lots, My old man use 2 have an investment property rented out to the military, and they were the same. The house could be empty for months at a time but the military kept renting it.Quote:
Originally Posted by macca86
What would the government care, its taxpayers dollars footing the bill
They're renting it so they can hang on to the property.
Has nothing to do with who the tenants are. Many business's do the same so employees/executives have somewhere to move to if/when needed.
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As an EX Property Manager I feel your pain. From your post I am assuming you are a private landlord and don't utilise a Property Manager from a reputable Real Estate (or the likes of businesses that only do Property Management) ?
Initial prospective tenant investigations are crucial to ensuring you give yourself the best possible chance of securing a respectable tenant. Unfortunately private landlords don't generally have access to TICA which gives you details of any recorded rental arrears, damage issues or property court related matters. www.tica.com.au
Tenancy references (at least the 2 most recent) should be fully checked and property searches done. This ensures the details given to you are in fact the details of the actual owners of previous places the applicant has lived in. You wouldn't believe how many people make up stories & put a mate as the contact. Owners blindly give them a call and leave it at that. Do a police background check. Have it in your application form that would will be doing these searches and obtain their written authorisation to do so. They won't want you doing it if there something to hide - so that alone tells you to steer clear.
Whilst yes you need to respect your tenants privacy you also have the RIGHT to protect your investment. 3mthly inspections are highly recommended - as is breaching tenants who are not fulfilling their terms of the rental agreement.
Don't know about other states but here in sunny QLD you can apply to the courts for an eviction on the grounds of accumulated breeches for the same repeated issues.
Do you collect a bond? 4 weeks rent is generally the accepted amount to obtain and this should be lodged with your states applicable Rental Bond Board. Then of they vacate and leave a mess etc you something to go towards the expense by claiming their bond for such things as repairs. (Need receipts to proove it so if run your own business or a mate - get invoices issued)
Property Management is an extremely involved & freeeeeking stressful job - making sure everyone is following the current legislation, inspections, repairs, collecting rent and yes, chasing arrears, court appearances .. The list goes on.
I honestly would recommend employing the services of a professional worth it.
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That's not to say you'll be living the dream with perfect tenants BUT you have a better chance unless you know exactly what you're doing and are upto date with current laws and not only your tenants rights but your rights as an owner
My ex and I were always planning on getting an investment property but after I did this work for a few years I was like NO WAY!! Buy shares instead ;)
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Defence Housing Authority was a good way to go a few years back.
Can be expensive to get into tho due to the size and age of the housing they require but was all upside from there.
Take solace in the fact that the land value is what grows and not the house.
Make sure its insured and the tenants burn it to the ground! That way you might build your dream home lol
I use an agent and the property gets inspections regularly but I have found them wanting on many occasions..
I too have had and still do have lots of experience with agents and mostly do not like them..
Last week an owner of a flat in Toorak was complaining about a list of things as she is looking at selling after only 2 years, one of the complaints is a cable hanging loose outside her flat and going up over a 2 story roof..
I was asked to go and see what I could do and suggested that I disconnect the cable to find out who's flat it services and when the tenant complains we know where to send the order to fix properly and not just have hanging freely off the roof down the side of the building...
Now I tied the cable to a tree at head height and left the other part sitting there out of the brick work... all you had to do was re-connect it, well the cable turned out to be a tv antenna and it belonged to the lady that was complaining about the cable..... instead of just re-connecting the cable she went into a tirade and made all sorts of threats.... I went there today (with a call out fee) and 45 min to drive there and 3 seconds to screw the cable back together.. the property managers are sending a trady out there to fit the cable to the wall properly and she will receive a bill for both that work and my time..... if only she had acted like a reasonable person she would not be coughing up the big bucks for a simple cable.... frustrating she is.
People expect everything and will not take responsibility for themselves .
Lol.. I have been on the other end though before we bought.
Luckily I took photos with all the issues before we move furniture in, I gave a copy to the agents which were "miss placed" blithe time we moved out and they tried pinning us for a whole repaint due to nails in the walls for hooks...
And the stove the best one, they reckon the stove rings were silver.. There were painted black. I tried showing them but I got the stuck uo nose..
So I took em to work, 10 mins on the sanded and buffer they had there polished mild steel rings...
My guess they lasted a month.. Lol
Anyway. Father in-law has a rental.. 3 bedroom house. His bond was 3 weeks rent, roughly $700.. Last tenants trashed it. Had a brand new bathroom and kitchen.. The main thing was they never put salt in the water softener.. So everything was covered in calcium..
He kept the 700 for his time cleaning up again. At $50/ hour 700 doesn't last long..
But the new tenants there are awesome. Unfortunately they have a disabled children, blind I think. But they are the nicest people and love doing things around the house. Last month they re stained the deck. Equipment and stain was supplied but they did it..
OMFG - you've agents looking after it and still got that bad, that quickly.
It's a shame there seem to be so many half assed agents out there. They'd be on their way out if it were me (tenant and agent)
Wish you well with Antenna lady ... Unreasonable tenants make it so much harder than it needs to be
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