The De-clutter Before You Sell!

11/10/2018

Selling: Auction vs Private Treaty

21/10/2018

Protecting your Investment Property

16/10/2018

Property investment poses risks, like any type of investment, and one risk that can never be completely eliminated is the chance of having a bad tenant. This can happen when a bad tenant has given false information at the application stage, or they were previously a good tenant but their circumstances changed resulting in bad outcomes for the landlord, agent and also themselves.

Here are some things you can do to protect your investment:

Landlord Insurance

Landlord Insurance is provided by many banks and financial institutions. Some of these policies have quite high excesses when claiming for rent default, while others even exclude a claim should the tenant be on a non-fixed term tenancy at the time of default. It is well worth doing your homework to ensure you are getting a policy that best suits your needs.

Mortgage Buffer

It is always safe practice to ensure your mortgage bank account has enough funds to cover the mortgage payment(s), should the rent monies not be paid. One way of doing this is to establish a bank account, such as an off-set account against your mortgage. This cash buffer is also handy in the event any repairs are needed.

One way of investing smartly is by maintaining a large cash buffer. One way of doing this is to establish a bank account, such as an off-set account against a mortgage or a line-of-credit, and make sure you have some cash in there. Throughout the year you can use that cash to pay for unforeseen expenses, and then come tax time, when you get your big property investors’ tax return, top the buffer up again. – See more at: http://www.propertyinvestmentmentor.com.au/how-to-smartly-and-safely-invest-in-property-using-a-cash-buffer/#sthash.c7JilSFp.dpuf
One way of investing smartly is by maintaining a large cash buffer. One way of doing this is to establish a bank account, such as an off-set account against a mortgage or a line-of-credit, and make sure you have some cash in there. Throughout the year you can use that cash to pay for unforeseen expenses, and then come tax time, when you get your big property investors’ tax return, top the buffer up again. – See more at: http://www.propertyinvestmentmentor.com.au/how-to-smartly-and-safely-invest-in-property-using-a-cash-buffer/#sthash.c7JilSFp.dpuf

Right Expectations

Renting a property automatically places the property management under a ‘rule book’ called the Residential Tenancies Act which is a set of regulations that both tenant and landlord need to abide by. Understanding your rights with respect to the process should things go wrong will help you to manage the situation better.

 

 

This photo is from a recent incident in Wagga. The owner thought they were fully covered, however after this fire they found that they were not covered for loss of rent.  The property is uninhabitable and could take up to 6 months to fix.  The owner will receive no rent for this time.  A better policy would have fixed all the repairs and paid rent till a new tenant could move in.

Established in 1950 by the late Geoff Fitzpatrick. We strive for excellence in our field, we aim to provide the best real estate service to the people of Wagga Wagga, embracing the highest standards of expertise, professionalism and integrity.