Who you pick as a tenant will ultimately bring the great return for your investment property. Somebody who will not only pay your rent on time, but will look after you property as if it were their own, will save you more money in maintenance throughout a year which means you will keep more of the rental income.
This is the key to your property portfolio. It’s hard to get it right all the time, though a good property manager will help guide you to make the best decision for your property. Some tenants will go as far as fixing minor maintenance problems themselves. They will keep you updated with any other maintenance problems immediately, which keeps most fixes a lot cheaper before they blow out into something serious and sometimes, they improve your property by painting it, doing small renovations that add value and maintain gardens.
Sometimes taking a little extra time to decide and know that you’ve exhausted the complete market place for a tenant, will save you money. Don’t rush into any decisions and make sure your guidance is the best advice you can get. Choose your agent wisely and they will help you choose your tenant wisely.
The following advice is of a general nature and intended as an opinion and broad guide. For all legal, financial or real estate advice you should obtain independent professional advice to do with the specific nature of your circumstances before making any legal, financial or real estate decisions.