Hi all,
We have a 2BR IP in Brunswick, Melbourne. Has been rented consistently (furnished) for the past 2 years, without issue, managed by one of the larger RE agents while we have been living overseas.
The most recent tenants have been consistently late in paying rent and have had some personal issues lately - I hear they are separating and rent payment *may* become an issue. They were expected to meet with the RE agent yesterday to discuss, but never showed up.
Agent has advised waiting another month.
We are thinking that now we are returning to Aus, maybe we could look at self-managing the property. Have never done this before and are wondering if it is really a good idea. My concerns are:
Would appreciate any advice. Thanks kindly.
We have a 2BR IP in Brunswick, Melbourne. Has been rented consistently (furnished) for the past 2 years, without issue, managed by one of the larger RE agents while we have been living overseas.
The most recent tenants have been consistently late in paying rent and have had some personal issues lately - I hear they are separating and rent payment *may* become an issue. They were expected to meet with the RE agent yesterday to discuss, but never showed up.
Agent has advised waiting another month.
We are thinking that now we are returning to Aus, maybe we could look at self-managing the property. Have never done this before and are wondering if it is really a good idea. My concerns are:
- If something goes wrong, tenants less likely to be concerned as they wouldn't be able to be noted on tenant databases as 'bad tenants' (Does this really exist?)
- How do we do assess them as good tenants - is it as simple as phoning references and using own judgement? Do RE agents have access to databases to review prospective tenants?
- We are expecting a new family member so I might have limited time to attend to issues. I don't see this as being a major hurdle, though, as there have been limited issues so far. Money saved might offset this downside.
- How do we do assess them as good tenants - is it as simple as phoning references and using own judgement? Do RE agents have access to databases to review prospective tenants?
- We are expecting a new family member so I might have limited time to attend to issues. I don't see this as being a major hurdle, though, as there have been limited issues so far. Money saved might offset this downside.
Would appreciate any advice. Thanks kindly.