Placing a good tenant – Part 3

This brings me to my third point when it comes to buying rental property, tenants. This is something that most people overlook when they are shopping for their property. You see, a good quality tenant will just make your life easier. They will take care of the house and communicate if anything is wrong. If you get a bad tenant they may damage the house, which you will have to fix. They may also pay rent late which puts more…

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Part two: Potential problems with the property

After you have decided that the property will make you money it’s then time to take a good close look at it. The first things you want to look at when buying rental property are the things that would cost you the most money to fix. Things of this nature would be the plumbing, electrical and the roof. If any of these items need to be fixed then you must consider that cost before you buy. In some cases, if…

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What to look when buying rental property

When it comes to buying rental property there are 3 main things you need to consider. First you need to be sure that the property you want to buy will make you money each month above and beyond expenses. Second, you want to consider the overall condition of the property. Third you want to consider what type of tenants you can get to move into the property. Buying rental property is really not that hard as long as you make…

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Pets at my property

If I allow pets at my property, what expectations will be given to the tenant? M Residential always signs pet conditions with your tenant on their tenancy agreement. This obligates them in 4 ways: 1. No additional pet may occupy the property without prior permission. 2. The pet may not come inside the property. 3. The pet must be removed from the property if it becomes annoying or bothersome to neighbours (after reasonable warning has been given in writing). 4.…

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Rental Market

Recent data shows that the rental system is cooling with median rents dropping by around 1% as the metropolitan vacancy rate rests at a normal 3.1% of available properties. At M Residential, our vacancy rate sits around the 2.45%. We now have around 3,843 rental listings in the market place which is down by about 6% over the last three months but still well above the same time last year at 81%. Within this context, the median rent has dropped…

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How to maximise rent

With increases in today’s market resulting in more rental properties being available, landlords will need to up the ante to compete for tenants. This Increasing supply of rental property can leave owners sitting high and dry as tenants pick the eyes out of the market. The longer a property sits vacant, the more stale it gets and the higher the chances that no-one will want to rent it. You want to attract and keep the best possible tenant at the…

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Selling property with tenants

There are both positives and negatives to placing a property on the market with tenants still in residence. With a tenant still in residence, the period between the sales listing and the sale can be fraught with complication. Even the most accommodating tenant is likely to be stretched by the extra requirements that come with living in a property listed for sale. Legally, all tenants must allow access to agents to show prospective purchasers through their residence once open for…

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Getting Pre-approved finance before buying

A pre-approval is one of the greatest assets a home buyer can get. Pre-approval is a written assessment of your worthiness for a loan. When you seek pre-approval for a home loan, your lender will assess your ability to pay, as well as your credit history, to decide how much they are willing to lend you. Although you can make an offer and go through to the start of property settlement without having pre-approval, smart home buyers get pre-approval before…

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Videos in Property Management

Imagine knowing that your investment property is available to be ‘viewed’ 24 hours a day, seven days a week. Curious? Our Landlords at M Residential South Perth are already reaping the benefits of this type of marketing. We use the latest in technology to video your investment property followed by launching it through YouTube so that it is available for prospective tenants to ‘walk through’ from their own living room. Our video marketing program gives prospective tenants a guided tour…

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