A typical fear about investment property is getting tenants who won’t look after the home, or even trash it. A recent program on A Current Affair spotlighted just such behaviour. However, there are solutions available.

There is no denying that the risk of bad tenants exists, but it can be minimised or avoided through;

• Investing in a property class that is out of reach of such tenants and neighbourhoods
• Using a professional property management company to:
  
  
  • Carefully select and screen prospective tenants
  • Motivate and justify their selection to you as the landlord
  • Perform a detailed moving in inspection to serve as the base for the condition of the home
  • Do the same on moving out, ensuring that any damage is made good
  • Perform regular inspections throughout the tenancy
  • Ensure any damage or breakages are repaired by the tenants
    
    
• Taking out Landlord’s Insurance, for under $1000 a year. This covers you for unexpected damage as well as covering other risks eg vacancy

So while there is the risk of getting bad tenants, there is plenty that you can do to cover yourself and reduce the risk to an absolute minimum. For more information Contact us on (02) 9687 3601 or email us at info@mccarthygroup.com.au