In this newsletter we cover important property management topics to keep you informed and maximising your rental income and optimising your capital growth.
Who Makes A Good Tenant?
The short answer to this question is “Not always the person you think!” Good Tenants cannot be judged on outward appearances alone- there have been plenty of well dressed, schmick Tenant/s who do a runner without paying rent and damage very exclusive properties. The key to selecting a good Tenant is to have your Property Manager go through all the rental history and reference checks with you. The idea is to pick the person who:
- Has the capacity to afford the rent
- Will pay the rent
- Will look after and maintain the property well
- Will have good business relationships with the Agency
There are laws protecting Tenants from bias on discriminatory bases and these are for good reason. It is impossible to lump all people of a certain gender, age or nationality in the same basket. Each person needs to be evaluated on their own merit.
Recent Court Rulings... Importance Of Promptly Responding To Maintenance
There have been two recent court rulings [published in the media] that impact the management of rental properties.
Firstly, tenants contacted their property manager with concerns about faulty power-points, which was not actioned in a timely manner, resulting in the unit catching fire. The tenants won a large compensation claim for damage of personal effects and relocation costs....
Bundaberg Sales Market Data
Bundaberg is experiencing some volatility at the moment, with a mix of positive and negative economic indicators present in the region. The quarterly price fluctuation has positioned Bundaberg as the second-most-affordable market for houses and units in 2017...
2017 Claiming Travel Deductions
At the beginning of this year the Government announced that from 1 July 2017 all travel deductions relating to inspecting, maintaining, or collecting rent for a rental property will be disallowed.
With all rental deductions, we always recommend that you refer to your accountant or financial advisor.