Would you take on this tenant?

Is your PM willing to co-sign for this applicant?

Why would any PM do this?

Checking valid references is never easy in another country.
Request 6 months payment up front.

If they pay 3 month up front..I'd take them.
Is the applicant's family willing to co-sign?

I would not touch these tenants. I certainly would not drop the rent (assuming it is not too high now). I would possibly consider an up front payment, but this sounds like trouble to me.
 
Thanks everyone. For some reason this property has brought me a lot of problems with dodgy tenants, people not on lease and subletting which is a shame as on paper it should be my best IP.

I'm still a bit surprised that the PM has made no effort at all to qualify the tenant. I asked her if it were her property, would she take the tenant on. After a few moments silence she says she probably would just so she has some rent coming in. The tone in her voice suggested otherwise.
 
Thanks everyone. For some reason this property has brought me a lot of problems with dodgy tenants, people not on lease and subletting which is a shame as on paper it should be my best IP.

I'm still a bit surprised that the PM has made no effort at all to qualify the tenant. I asked her if it were her property, would she take the tenant on. After a few moments silence she says she probably would just so she has some rent coming in. The tone in her voice suggested otherwise.

We had a property like this once. We seemed to have one dodgy tenant after another. One neighbour (we knew the neighbours) said she thought she would suggest we have some sort of "blessing" done to improve things :eek:.

If you and your PM both feel uncomfortable, go with your gut feeling. Better empty another couple of weeks than try to get out a problem tenant.
 
I would not touch these tenants. I certainly would not drop the rent (assuming it is not too high now). I would possibly consider an up front payment, but this sounds like trouble to me.

That is exactly my point Wylie.
The PM is pushing the applicant....if the PM think they are so great, let them take some responsibility.(they wouldn't)

If these tenants skipped, there really isn't any recourse, except the bond.

We had tenants from Iran this year,working/ studying at our local college and they had no problem paying 2+ months in advance. They left the place perfect.
 
We had a property like this once. We seemed to have one dodgy tenant after another. One neighbour (we knew the neighbours) said she thought she would suggest we have some sort of "blessing" done to improve things :eek:.

In all my time at this lark, I have had only one real problem house. I had to evict two consecutive lots of tenants. I decided to sell the property, but before I put it on the market I had a friend "cleanse" it. It sold in a very short time for an excellent price. I really wish that I had thought to "cleanse" it before I rented it out again. I recall there was salt involved :D.

Subsequently I have personally burned a sage stick in our houses that become vacant.

cheers
 
Do all the checks
Passport, visa, employment, bank statement (ins and going), saving,etc.

Just got a call from my PM with a tenant application. It doesn't sit right with me but wondering if I'm just cautious.

Property is at Guildford (western Sydney). Is a 3 bed townhouse advertised at 470p/w, just reduced from 490.

Tenant wants to pay $450p/w.
Just arrived from Dubai 2 weeks ago.
Earns 26k per month.
Two adults and 3 children
Employer in Dubai.
Currently living with family.

So it's not possible to do an employment check or any reference check.
PM is pushing me to accept application being close to Christmas.

If it was your property, would you take them on?
 
Hi Beachgurl,

First of all the vacation rate at Guildford is doing well. I'm biased, but I just sign another 6 months lease for 3BR house to $500/week.
Townhouse should around $480-500/week as well, $470 is lazy and quick punt..

But unable to do due diligence is fat big sign..

@Kathryn D,
In the past I try to get the money upfront with one of tenant in Guildford as well.
Could worth a shot, but at the end we didn't sign the lease
 
I would say no to decreasing the rent.
Up to you if you want to take a chance on this tenant.

Ensure you landlord insurance policy is current.
If you don't have appropriate cover - don't rent to them!
 
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