Research

Landlords urged to be more proactive and avoid unnecessary risk in tenant selection

Promoted by Rent.com.au

 

Maximising the return on a rental property investment and securing quality tenants can be significantly improved by conducting appropriate due diligence on prospective tenants, according to rent.com.au Founder and CEO, Mark Woschnak.

Taking the time to understand the rental conditions of a local area, national tenancy database checks and effective communication between landlords and tenants was also highlighted as critical for the large number of landlords who self-manage their rental property investments:

“Many private landlords are simply unaware of the tools and resources available to them, said Woschnak. “Determining whether a prospective tenant is suitable or not, is often left to chance and based on first impressions, timing and price. Now, landlords can access information that was previously only available to the professional real estate industry.

“This makes the entire process easier and will greatly assist landlords to make the right decisions in securing reliable tenants and long-term rental income.

"To further close the loop, we have launched RentCheck, a fast, affordable and comprehensive tenant report that removes doubt and the 'what ifs' from decision making.

"Landlords can now use ‘RentCheck’ to screen potential renters before signing the lease to confirm items such as tenancy database history, identity, court records, rental payment defaults and bankruptcy.

"The verification of personal details for a rental agreement is crucial and we urge all landlords to adopt a proactive and stringent approach in carrying out the appropriate due diligence. This will help to mitigate the risk of fraud and avoid unnecessary stress by establishing that there are no hidden circumstances impacting rental payments, or damage to a property.

"The service is also being used directly by renters, who obtain their own reports to elevate their chances of obtaining a preferred property. Background research, when coupled with effective communication, will go a long way to avoiding future issues and ensure mutually beneficial outcomes for everyone involvedin the leasing process."

RentCheck is backed by Australia's largest credit reference agency. Each RentCheck report costs $35 and is issued immediately via email.

Private landlords can also benefit from free property listings via rent.com.au and access a range of additional services including RentReports and RentQuotes.

The RentReport allows landlords to obtain a comprehensive rental intelligence report for the suburb of their investment property, enabling the best chance of receiving the right rental income. RentQuotes provides landlords who don’t wish to manage their own property, an opportunity to obtain immediate and multiple property management quotes from local agents serving their area.

Rent.com.au’s sustained growth in the rental sector reflects a national trend towards renting as a conscious lifestyle and investment choice for millions of Australians.

As it strives to create a total rental marketplace, Rent.com.au has experienced rapid and solid results since listing on the ASX in June 2015. The company recently reported record traffic numbers of 615,405 unique visitors to the website during January 2016, along with a 46% increase in enquiries to agents and landlords.

Landlords can list their properties for free and obtain RentCheck tenant reports at rent.com.au.

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About the Blogger

Rent.com.au

Whether searching for a new place to live or looking for a tenant for your property investment, – rent.com.au will help you find the right place or the right tenant, quickly, efficiently and effectively.

Rent.com.au (ASX:RNT) is Australia’s leading dedicated rental property website and delivers a single marketplace for renters, agents and landlords.

Focusing exclusively on the rental market for Australia’s growing number of renters (approximately 7 million, or 30 % of the population), rent.com.au is today ranked one of the top 10 property websites in the country and is solely focused on delivering excellent services for renters and marketers of rental properties.

Rent.com.au is not a rental property manager. It accepts enquiries from all listers of rental properties, including real–estate agents, property managers, private landlords, developers, builders, retirement services and universities. By ensuring its wide availability, rent.com.au provides renters with the widest possible choice in one, convenient location.

The site also features a number of exclusive and industry-first product developments, including RentBond, RentConnect, RentCheck and RentQuotes, further assisting renters, agents and landlords to simplify the renting process.

As increasing numbers of Australians choose renting as a conscious lifestyle and investment choice, rent.com.au is set to become the home for renters in Australia.

Rent.com.au was established in 2007 by experienced property and new media entrepreneur, Mark Woschnak and listed on the Australian Securities Exchange in June 2015.

FROM THE WEB

podcast

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Karen Davies is a regular listener of the Smart Property Investment Show and is almost ready to leap into the world of property investment in Australia. Taking advantage of her position as a first home buyer and utilising her super for her first investment deposit, Karen shares her plans with host Phil Tarrant. 

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She shares the life altering changes that she will need to make to purchase a property using the strategy which she wishes to employ and discusses how her career changes which have seen her transition from music management to engineering in just seven years have prepared her for such movements.
 
Karen unpacks the strides that she has made so far toward her first property investment, the process of using funds from her super as a deposit and her plans for building a portfolio going forward.

If you like this episode, show your support by rating us or leaving a review on iTunes (The Smart Property Investment Show) and by following Smart Property Investment on social media: FacebookTwitter and LinkedIn.

If you have any questions about what you heard today, any topics of interest you have in mind, or if you’d like to lend your voice to the show, email [email protected] for more insights!

RELATED AREAS OF INTEREST:

What young budding property investors must remember before starting their journey
What prospective property investors need to know about First Home Buyer's Grants
Q&A session with Paul Glossop – more questions answered!

 

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Dominique unpacks how, by relying on her background in law, she was able to overcome that debt and in doing so develop a unique investment strategy which she believes many can utilise today.

Dominique discusses distressed properties, and how she goes about finding them in order to buy property well below market value. She shares the process of identifying distressed properties as well as the controversy surrounding this buying method.

If you like this episode, show your support by rating us or leaving a review on iTunes (The Smart Property Investment Show) and by following Smart Property Investment on social media: FacebookTwitter and LinkedIn.

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RELATED AREAS OF INTEREST:

3 big property investment myths busted open
5 steps to take on low-risk property developments
Securing finance after life-changing events: ‘Cash flow is key’

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Tune in to the latest episode of Property Showcase, the podcast with the inside track on the products and businesses that will help turbocharge your portfolio, maximise returns and make your overall investment experience seamless and stress-free!

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To hear more about these services, make sure to tune into this episode of Property Showcase!

 Make sure you never miss an episode by subscribing to us now on iTunes!

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Caifu Property\u2019s Automatic Equity program is designed to add a minimum of double the value of your salary to your portfolio every 12-18 months.\u00a0The program deals with five to six figures of instant equity, helps time poor investors generate equity in the shortest time possible without compromising your lifestyle or demanding your time.\u00a0<\/p>\r\n

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  • The benefit of building rather than buying existing property<\/li>\r\n
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    In this episode of Property Showcase, Michael Beresford joins editor of Wealth James Mitchell to unpack why recent political changes are not reason for concern for Australian investors.<\/p>\r\n

    In this episode, hear from\u00a0Michael\u00a0about:<\/p>\r\n

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      Caifu Property’s Automatic Equity program is designed to add a minimum of double the value of your salary to your portfolio every 12-18 months. The program deals with five to six figures of instant equity, helps time poor investors generate equity in the shortest time possible without compromising your lifestyle or demanding your time. 

      In this episode of Property Showcase, Drew Evans joins editor of Real Estate, Tim Neary, to discuss the softening of traditionally strong markets and why he believes that investors should still see opportunities to create equity.

      In this episode, hear from Drew about:

      • The keys to creating equity in a falling market
      • The benefit of building rather than buying existing property
      • Their automatic equity program and how you can be involved in it
      " ["clientImage1"]=> string(45) "images/Property_Showcase/DREWEVANS170x170.jpg" ["clientUrl1"]=> string(33) "https://www.caifuproperty.com.au/" ["clientName2"]=> string(9) "Open Corp" ["clientDesc2"]=> string(810) "

      Whether it’s building a successful property portfolio or investing in one of their Development Funds, Open Corp can help you through every stage of your investment journey. The team has 40 property specialists who collectively have been involved in over $4 billion worth of property transactions and the acquisition of more than 8000 homes and investment properties.

      In this episode of Property Showcase, Michael Beresford joins editor of Wealth James Mitchell to unpack why recent political changes are not reason for concern for Australian investors.

      In this episode, hear from Michael about:

      • Why property is a long-term investment
      • His predictions for the market going forward
      • How to get a free copy of their ultimate guide to real estate
      " ["clientImage2"]=> string(54) "images/Property_Showcase/Michael-Beresford-170x170.jpg" ["clientUrl2"]=> string(28) "https://www.opencorp.com.au/" ["access-view"]=> bool(true) } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["displayDate"]=> string(19) "2018-09-19 06:00:15" ["slug"]=> string(80) "18568:creating-equity-in-a-falling-market-and-a-long-term-view-of-what-to-expect" ["catslug"]=> string(20) "82:property-showcase" ["link"]=> string(108) "/podcasts/property-showcase/18568-creating-equity-in-a-falling-market-and-a-long-term-view-of-what-to-expect" }
Creating equity in a falling market and a long-term view of what to expect

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Landlords urged to be more proactive and avoid unnecessary risk in tenant selection
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