Taking care and managing rental properties Sydney can be a tough job, especially when you have a numerous number of rental properties Sydney to manage. So can you make sure that the trajectory of the residential property management industry stays strong? They are my bosses after all. Working in property management Sydney, maintaining and profiting from residential property management can sometimes be a difficult and wary task especially for first timers.
The solution to happy bosses is simple: Profit. And the solution to profit too is simple: Find a good tenant, though the process of finding one may not be as simple as it sounds.
Bad tenants can prove disastrous for those interested in property management Sydney. We’ve all heard what bad tenants can do here: Leaving trash behind, defaulting on rent payments, or even damaging rental properties Sydney. This is an unfortunately common circumstances and where they do all the ‘fun’, landlords and property managers are those that are left to suffer for their actions.
Some losses may incur within your residential property management as a result of bad tenants. An example may be when a tenant breaches a contract. This is a case where property managers would need to evict or terminate their contract, with the landlords consent. However the process of termination is never easy. It requires a lot of time and effort, going through proper process and channels. There will be no way to escape the process since this is the proper legal way of evicting a tenant.
Hence, here are some tips to help with the process of finding a good tenant:
- Screen tests:
When working in residential property management and trying to find a tenant for a rental property Sydney, it is important to screen test a prosepective tenant to ensure that tenant is a good investment and is capable of acting accordingly to the contract. Screen tests can be done by making a few phone calls to the tenant’s current or past employers or to the tenant’s past property agent and landlords.
- Reviewing Tenancy Applications:
Before you accept on a tenancy, you need to first have a review on their tenancy applications. Does this prospective tenant have a job? Are they working where they say they are working? Sometimes tenants tend to write their employment details on the application form which would give property managers the peace of mind that they are going to pay on time, but in actual fact they are unemployed. A good property manager would normally check if all details that they have provided are true and if they are credible enough.