Hi,
I am assessing applications for rent (I am going to manage IP myself) and one of the applicant will have to get bond loan from Residential Tenancies Authority.
Does any of private landlords have any experience with this issue (how long does it take, ability of tenant to meet rent payments….)
Thanks.No experience whatsoever but surely anyone who has trouble raising bond may encounter the same problems when ‘trying’ to pay rent.
not always, this applicant is a single mother going through divorce and does not have bond. She has permanent fulltime job and good work references. Residential Tenancies Authority will give her loan.
Any other comments there with real experience (good or bad)?
Hi Penguinchick,
I manage some of my properties myself and I have found no problems with renting to people who need a hand with the bond. Most of our tenants who needed this assistance came through Anglicare. We still assess them as individuals as in all groups of people there are some who are going to be better tenants than others but the single mums who we have given a go have really appreciated it and have always looked after their property. We make it clear to them we are happy to assist them but at no time do we tolerate the property not being cared for or the rent being missed, it must always be ontime and in advance. If you set these rules and be kind but assertive they will respect you for that. Also as they know how hard it is to find a good place they usually end up being good reliable long term tenants. We have one who has been in the property for 4 years and we have also done annual rent reviews and she is happy to stay.
I hope this helps.Paul Wilson
M: 0414 987 140
O: 1800 600 890
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Depends entirely on circumstances have had a few tenants with bond loans and no probs with rent payments – this is a question i always ask on application. Depending on which state you are in with self managed ip there are bodies that can do tica etc checks for you at surprisingly low cost
Mike and Paul,
thanks for respond.
Cheers,
Daniela
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