7 thrifty mistakes that could spell bad news for landlords

No one likes to spend any more than they have to, but you always get exactly what you pay for. An insurance comparison expert has said that investors looking to cut corners financially could set themselves up for financial ruin in the future. Abigail Koch, spokesperson at Compare The Market, said that investors need to keep in mind that, while a property is seen as an asset for them, for tenants, it is a home. “Investors need to provide a rental home that is comfortable, safe and secure — and also complies with state leasing legislation — but at the same time they need to secure a good tenant who pays their rent and looks after the property,” Ms Koch said. “When property becomes a business, the temptation is to cut corners in order to save on costs, but this could lead to financial losses in years to come.” Ms Koch outlines her top seven mistakes by landlords that could lead to financial ruin: 1. DIY property management While agent fe...

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Choosing the perfect Rental property

Choosing the right property to rent is just as important as choosing the right property to buy.  This is a property that you will be calling home and you need to feel happy, safe and comfortable in your new surrounds. So – what do you need to consider when selecting a property to rent?  Step 1 :  Determine your needs/requirements Step 2 : Do your homework Step 3:  Attend Open for Inspections Step 4:  Complete your Tenancy Application Determining your needs Are you living on your own, sharing, or do you have a family?  If you are looking for a property to share – will all the bedrooms be appealing to other prospective renters and are the living areas sufficient to allow you to have some alone time?  If you have children – is the property safe or can you identify any hazards that could be problematic?  Is the property in close proximity to transport and amenities?  How do you spend your weekends…. Mostly out, en...

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