Hi,
I’m new to property investing, but I am taking action. I have possibly found a couple of +ve geared properties and have made appointments to inspect. My question is: If all goes well and I purchase one or both of these properties, what happens next with finding tenants? I want to do my due diligence and find good tenants, but am unsure whether to leave this in the hands of a PM or do it myself. The properties in question are a good hour & half away from where I live.
I have a copy of Steve’s Buyer Beware due diligece forms and wondered if I can give them to a PM and request that prospective tenants fill them in, and then I make the final decision about who gets the house. Sorry for all the questions, but I would really love to hear from others who have used Steve’s due diligence or something similiar.Thanks[
]Nothing worse than no replies so here goes. what I have done with both my (negative sob sob) homes is had a ‘tenant only’ deal with the PM. a few don’t do it, but most will. the deal is you pay one weeks rent, and any advertising. They do the bond papers then hand over. My agent sent me all the tenancy application to check and then I made my choices. They of course charge the tenant too, but that is always the case. so far this has worked well for me. I also have copies of the tenancy agreement papers in case I want to rewrite a lease. I do my own property report and get the tenant to sign off on this. Then do one or two trips (one i do none as she is brilliant)to inspect. Hope this helps.
Thanks Patricia, [
]I do want a PM to manage the property once it is tenanted, as we live too far away to keep check on it. But I was interested on how to find the good tenants in the first place. I have heard that PM’s sometimes just put any Tom, Dick or Harry in a house without much diligence at all.
We want to avoid any problems. Will PM’s let you check on prospective tenants and have the final say as to who it is rented too?[]
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