Is there, or should there be any preference as to when the tenant pays their rent? I would have thought having it tied to a day or two after the tenant's pay date would be the most beneficial for getting the rent on time (especially if they are coached as to how to set up a direct debit).
We have 30 days for our property contract to settle, and after we have a PM help select a tenant we were thinking of self managing. We are planning on renting the 3br house in Hobart for 300 pw. (or 600 per fortnight)(or 1300 per calander month)
I'm planning on keeping a couple of k as a buffer in the transaction account that the mortgage is paid from (and that the rent goes into) so I'm not fussed about trying to tie the tennants payments to the same frequency as the mortgage payments.
Cheers
Simon
We have 30 days for our property contract to settle, and after we have a PM help select a tenant we were thinking of self managing. We are planning on renting the 3br house in Hobart for 300 pw. (or 600 per fortnight)(or 1300 per calander month)
I'm planning on keeping a couple of k as a buffer in the transaction account that the mortgage is paid from (and that the rent goes into) so I'm not fussed about trying to tie the tennants payments to the same frequency as the mortgage payments.
Cheers
Simon