Published on February 13th, 2014 | by Chris Snell - Rental Success0
Valentines Day – all things bright and beautiful …. really?
Happy couples do look good on paper – particularly when they are applying to rent your investment property. But have you really performed due diligence with their fairy tale?
Sing it with me – “Wise men say …. only fools rush in … but I can’t help, … falling in love with you…..”
A lovely young couple caught up in a new world of setting up house together may not really be aware of what they are getting themselves into. A good way to offset the emotions with some good old fashioned common sense is to simply make some inquiries about the nature and depth of the relationship.
- How long have the happy couple been together?
- Have they occupied a home together in the past?
- Who will be responsible for managing the monthly rent payments?
- Do they have parental support or the support of friends?
- Have they prepared some basic budgets to anticipate their living costs?
- Are their commitments to university or industry education programs?
- What part-time, casual or full-time employment arrangements are in place?
- Who is backing them up while they get established?
- Will professional guarantees be signed by any third party on their behalf?
It is wonderful to see the spirit of St Valentine being played out in our communities but for the sake of rental success as a landlord and a tenant lets get the show off to a good start in order that this lovely young couple can live happily ever after. Wishing you a Happy Valentines Day x
Written by Chris Snell, Property Manager Melbourne Australia, Rental Success Blog