Rental Proof

Viewing 4 posts - 1 through 4 (of 4 total)

diclem
Member
@diclem
Join Date: 2003
Post Count: 537
April 21, 2004 - 4:00 am
Hi guys,
When buying a property complete with tenant, what sort of evidence do you ask for as proof of occupancy?
Do you ask to see 3 months of rental receipts?
Maybe 6 months or 12?
The property I am looking at is managed through a real estate agent. What would you ask for?
Cheers,
Sue [biggrin]
“Be careful not to step on the flowers when you’re reaching for the stars”
Celivia
Participant
@celivia
Join Date: 2003
Post Count: 886
April 21, 2004 - 4:14 am
Last time I placed an offer I asked for the last condition report, the tenant application form, and also asked the Property manager to print out the last 6 months of the rent report. Just for my own peace of mind.
The PM was happy to provide those forms for me.
You can ask for 12 months too if it makes you feel more secure.
I’m not sure whether the lender will require 3 or 6 months of rental evidence (I didn’t go through with that purchase in the end), this may depend on the lender.
Does anyone else know that?
Mortgage Hunter
Participant
@mortgage-hunter
Join Date: 2003
Post Count: 3,781
April 21, 2004 - 4:20 am
Lenders are happy with a recent statement or letter from the agent.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
diclem
Member
@diclem
Join Date: 2003
Post Count: 537
April 21, 2004 - 4:47 am
Thanks guys,
Just wanted to know exactly what to ask for, so I don’t come across too stupid. I want the records for my own research to check that the units are renting well. I don’t need it for loan purposes, I’m getting a low doc.
Thanks again for the info Celivia and Simon,
Sue [exhappy]
“Be careful not to step on the flowers when you’re reaching for the stars”