Would you take on this tenant?

B

beachgurl

Just got a call from my PM with a tenant application. It doesn't sit right with me but wondering if I'm just cautious.

Property is at Guildford (western Sydney). Is a 3 bed townhouse advertised at 470p/w, just reduced from 490.

Tenant wants to pay $450p/w.
Just arrived from Dubai 2 weeks ago.
Earns 26k per month.
Two adults and 3 children
Employer in Dubai.
Currently living with family.

So it's not possible to do an employment check or any reference check.
PM is pushing me to accept application being close to Christmas.

If it was your property, would you take them on?
 
Last edited:
Do some checks? find out who they work for, google them, call them (they probably speak English), ask for proof of income. If you're still not happy find someone else.

And charge what you want!
 
beachgurl said:
Just got a call from my PM with a tenant application. It doesn't sit right with me but wondering if I'm just cautious.

Property is at Guildford (western Sydney). Is a 3 bed townhouse advertised at 470p/w, just reduced from 490.

Tenant wants to pay $450p/w.
Just arrived from Dubai 2 weeks ago.
Earns 26k per month.
Two adults and 3 children
Employer in Dubai.
Currently living with family.

So it's not possible to do an employment check or any reference check.
PM is pushing me to accept application being close to Christmas.

If it was your property, would you take them on?
Click to expand...

It's not what the tenant wants to pay,it's what you want just tell them and take the punt the rent is $470.00,and please don't let pm's push you around just stand your ground,after all you are in the control..imho..
 
beachgurl said:
Earns 26k per month.
Click to expand...

Did they provide reliable documentation/evidence?

How many opens has there been? Has it been receiving little interest and that's why the rent reduction?

If I said yes, I would ask them to pay the full $470pw but offer them a weeks free rent. This is better than reducing it because
-Better for next years rental increase don't need such a large rise
-Better to keep all properties high rent for lenders serviceability and cashflow
Edit: Skater beat me to that one :)
 
Earns $26k per month and has bartered you down $20 per week on a 3 bedroom rental for his family of 5 in Western Sydney...
 
jim_88 said:
Earns $26k per month and has bartered you down $20 per week on a 3 bedroom rental for his family of 5 in Western Sydney...
Click to expand...

I know Jim. I can't help but smell a rat here.

Will ask PM to call Dubai. She said there is minimal documentation to work with. Perhaps if she asks the potential tenant for more details on employment the truth may surface if there is a rat.
 
Did he attend the open? Any information the PM can give you about how he presented etc? Does sound a bit too good to be true.

I have an engineer from Mexico in one of my properties who is on a 457 visa. I didn't have much to go on when I got his application, but was able to confirm employment/salary with the Australian company who bought him over.
 
Definitely contact the employer - won't be that difficult. Employment letter/contract of employment would be helpful as well.

Are they a FIFO worker or were they living fulltime in Dubai previously? Australian citizens previously or new arrivals on 457?
 
Frankly, I smell some bs here.
On that salary, why is he renting a relatively cheap property?
Staying with relatives? Why not a five star hotel?
Sounds so suss - my concern is he may be involved in criminal activities and you will be embroiled.
 
He is from Dubai. New arrival to the country.

Were the only ones who rocked up to the open on the weekend held by the agent. She couldn't tell me anything about them.

Rental market is rubbish at the moment. Think she just wanted the property off her vacant list.
 
beachgurl said:
Just got a call from my PM with a tenant application. It doesn't sit right with me but wondering if I'm just cautious.

Property is at Guildford (western Sydney). Is a 3 bed townhouse advertised at 470p/w, just reduced from 490.

Tenant wants to pay $450p/w.
Just arrived from Dubai 2 weeks ago.
Earns 26k per month.
Two adults and 3 children
Employer in Dubai.
Currently living with family.

So it's not possible to do an employment check or any reference check.
PM is pushing me to accept application being close to Christmas.

If it was your property, would you take them on?
Click to expand...


Is your PM willing to co-sign for this applicant?
Checking valid references is never easy in another country.
Request 6 months payment up front.

If they pay 3 month up front..I'd take them.
Is the applicant's family willing to co-sign?
 
I wouldn't accept them, doesn't sound right to me :confused:

If you are keen to lease then maybe 3 months up front at $460 a week and have my PM monitor them closely.
 
I have managed a few in the inner sw where the preferred tenant type did a runner but the ethnic groups most suitable have been great ever since. Atm have a University fellow earning $$$$ but paying stuff all - they're tight. Likewise the previous couple were phd scholarships x 2, so getting good tax free $ & full support but just as tight. They bought a house after a year in the country.

As for reference checks, has the agent heard of Google, pasdport check, email, FB and Skype.? I have qualified tenants in these circumstances before - not that hard. What's better a tenant who says that they have no track record but 'sold their home' or a newbie?
 
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