Instantly rejecting a tenant doesn't sound like a very nice thing to do, does it? But it is necessary in order to find the perfect tenants for your property and not get sucked into making a bad decision. You need to be able to spot these tenants quickly. Number one, tenants here on Tika often fail to disclose it. Tenants here on Ticker generally know that they're on Chica and it's never for leaving the house perfect and paying their rent on time. A tenant who has no respect for property investors is a tenant that you don't want. Number two, tenants who turn up late and don't care. We've all had an unbelievably bad run of red traffic lights from time to time, but if your tenants are turning up to the arranged time ten minutes late and without a reason, it shows a lack of respect for your time and the renting process as a whole. Turning up late for appointments are often late with paying rent. Number three, tenants who lie on their application. Over the years, we've seen false private landlord references from friends, fraudulent identification, and a misrepresentation of a relationship status in order to wrongly collect Centrelink payments. A healthy relationship between an investor and tenant needs to be built on trust. Number four, tenants without the affordability. Before approving anybody for your home, you should be looking at whether they can realistically afford the rent. A common calculation is to take the combined net income of the tenants and multiply it by 30%. If that amount exceeds the rent, you might end up with a tenant who can't pay. For more tips on how to find the right tenant for your property, subscribe to our video blog.
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