Signs of a Problematic Tenant
Firstly – it is impossible to be successful property investors without tenants.
For me the quality of a tenant is also my first priority in filling a property vacancy. As the presentation of a property declines, so too does the qualifications of a tenant and from there we have a dangerous downwards spiral.
So what is a ‘Good’ tenant?
For me, a good tenant is one that:
- Pays on time.
- Stays long term.
- Keeps to the conditions on lease.
- Reports maintenance in a timely manner (and provides tradespeople with access to complete repairs as needed).
- Is respectful of the owners property and agencies rights to manage.
The signs of a prospective tenant that could lead to a bad tenancy occur right from the start. The references may be below average, payments are late or inconsistent, or they may be unable to a pay a full bond amount required. Sometimes they are looking for accommodation in a desperate state or need to find something today.
These signs will be further backed up by their presentation for meetings, their use of language, feedback about the home and a general intuition. For me it’s never any benefit of solving one problem with another (i.e. filling a vacancy with a problem tenant). Tenants don’t “change their stripes” overnight and the lesson to be learnt is that if they have been difficult before they will most likely be difficult again.
This time, it will be your mental health, cash flow and property that suffers.
Do you need some help in finding good quality tenants for your investment property? Why not get in touch and see how Collins Gregory Real Estate can help.
Call us on (07) 3622 6436 to discuss your helps today.