What do you look for in a tenant?

[trinity168]

how much rental history?

hi,

how much rental history do you normally request for? 2 years? 3 years?

Thanks.

 

[Dazz]

Most of my applicants are on centrelink, are single mothers, have to pay child support, have no prior rental history etc etc.

You state your goal is to have 10 IPs in 5 years.

If these are the applicants whom you choose to do business with, what sort of "quality of cashflow" can you rely upon with a gaggle of 10 or so applicants all supporting your blossoming empire ??

What is your real goal, other than claiming "I own 10 IPs" to the world.....and do you think your chosen business partners are going to underpin your real goal.....underpin enough that a collection of Banks will believe you and them ??

I don't envy you sorting that lot out

Another experienced Landlord has the same opinion as I.

 

[skater]

You state your goal is to have 10 IPs in 5 years.

If these are the applicants whom you choose to do business with, what sort of "quality of cashflow" can you rely upon with a gaggle of 10 or so applicants all supporting your blossoming empire ??

What is your real goal, other than claiming "I own 10 IPs" to the world.....and do you think your chosen business partners are going to underpin your real goal.....underpin enough that a collection of Banks will believe you and them ??



Another experienced Landlord has the same opinion as I.

Don't be too harsh on the boy Dazz! Not everyone can afford your big pieces of dirt, or expensive inner city homes, so they invest in what they CAN invest in.

I've got way more than 10, some in better areas than others, and can tell you now that if you have low socio housing, you will get low socio tenants, but that does not make them bad tenants.

You need to make sure that your Agent knows what they are doing. Let them guide you on tenant selection. You need to look for someone that can afford the rent, and have a good stable rental history. It does not matter if they are on benefits or not, so long as they can afford it AND are proven to actually pay it.

If your IP's are two bedders in Penrith, then your average tenant is likely to be someone on a lower income.

Most of my tenants are long term these days. Over the years though, I've had great tenants on benefits. I've had crappy tenants on high incomes. I've also had crappy tenants on benefits and great tenants on high incomes. Income alone does not govern how they treat your property or pay their bills.

 

[Luv2Travel]

I dont really see it as snooping, people choose to post things on the internet with the knowledge the whole world has the ability to see it, a bit different to peeping through someones windows I think.



It was a little more complicated than that but there were several photos of them smoking including the profile pic which looked pretty recent. Call it paranoia if you like but that seems like a red flag to me when they appear to be dishonest on their application.

It's ok, I find it hilarious that one of the biggest Facebook stalkers ever, would object to this. I'm with you, all public information available should be used to determine tenant quality. Once they're in the laws are on their side so use all you can until you're stuck with them!!!

 

[jerrybee]

Simple. I don't accept students or any young people where it seems mum and dad are paying their way. That's the only rule I have.