Tenant Trouble?
Everyone who has considered buying an investment property has heard the horror stories. Tenants who generate noise complaints (or worse odour complaints), costly repairs and general headaches aren’t just investment property folklore: they are real. So, how can landlords avoid these headaches and secure tenants that are a joy to have in your property and not a burden? The answer is simple, two words that any property manager worth their salt should know, background checks.
Our Solution
Some real estate agencies only ask for personal references in tenant applications which can be easily fabricated and provide little protection to landlords. The National Tenancy Database provides much more thorough checks. Through the NTD, agents can check whether a potential tenant has been blacklisted for breaching their rental contract. Reasons to be blacklisted include damaging property, breaking a lease, or being evicted from a property. However, tenants can only remain blacklisted for three years, so at Wills Property, we provide additional extra checks to ensure we are only signing leases with the highest quality tenants.
Personal References: Although these can be fabricated, agents still request them. If a prospective tenant can’t provide any references, it is a red flag to their suitability as a tenant.
Identity verification: To protect you against identity fraud, we check whether rental applicants are really who they say they are.
Visa validation: Are applicants legally allowed to work and earn in Australia? Is there a chance of them suddenly having to leave the country?
Court history: Has a lawsuit ever been filed against applicants for unpaid bills or rent?
Credit check & Payment History: A great tenant has a good credit history. We also check whether applicants have a good track record of paying rent on time. Have they ever defaulted on payments?
Bank statements: Does a prospective tenant have a steady income that is proportionate to the cost of renting your property?
Thoroughly reviewing applicants is key to keeping blacklisted tenants away from your hard-earned investment properties. If you want to ensure your property is managed by an agent who reviews tenants thoroughly, get in touch with our team today by contacting John on 0467 443 838 or john@willsproperty.com.au