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Who Are Your Tenants?

By Sharon Ferriman

It’s a topic many investors don’t like to think about but one that shouldn’t be ignored—bad tenants. Sadly, there are people around who don’t have other people’s interests at heart and they will not treat rentals with the respect that is due.

Some won’t pay the rent on time; they cause wilful or accidental damage to the property and end up costing the owner more money than their tenancy was worth. One occurrence that we have seen more of lately is people setting up drug labs in rentals.

While the topic of drugs and drug labs tend to be a bit taboo, and may worry investors, the fact we are seeing it on the news means it’s something investors need to be aware of. Thankfully, they take steps to avoid this happening to them.

Signs something may be wrong

Clandestine drug labs are dangerous and they smell. For this reason, it’s very likely no one will be living in the rental. Upon an inspection, if the home looks like it’s not being lived in and there is a chemical or unusual smell, delve a little deeper.

Paying attention to what items are in the home will give some good clues. Chemical containers, too many allergy and cough medicines and drums don’t belong in normal everyday homes.

If you attend an inspection and there are modifications that don’t make sense or if you are refused entry to a room then the tenants could be hiding something. It may not necessarily be as dramatic as a drug lab; it could be that the tenant is hiding an unapproved pet.

It’s not just drug labs that can ruin rentals. Pets that are not taken care of responsibly, parties that get out of control or unclean living are all things to avoid when renting. So how do you do it?

Get professional help

Hiring the services of astute property management is the best way to avoid tenant disaster. At Ray White Holland Park, we carefully screen all applicants and check all references thoroughly.

With our many years of experience in the field and strong commitment to all of our clients, we vigilantly ensure that everything is as it should be in our rental listings. By conducting regular inspections and keeping owners up to date with their properties, we keep the lines of communication open and avoid disaster.

Contact us at Ray White Holland Park today by visiting online at http://raywhitehollandpark.com/ to view our range of services and learning more about how we are the most effective property managers around.

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