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  1. #41
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    Hello

    I have a few investment properties and I manage them myself. I have been in a very similar situation to you. I had several families applying and one single man with a dog who wanted the garage for a boat and storage. It was a mistake. He was late with rent on several occasions and we had to send him several notices to remedy. After the third one we evicted him. He released the bond to us but we were still a few hundred dollars short. We went through the tribunal and he has been ordered to pay us the outsanding rent but one year later we are still waiting... We found out later that there were four people in the house.

    Your choice should definitely be a business one - take all emotions out of it. You want someone to pay the rent on time (being late is not an option, you should never have to chase it up), someone who will take care of the house and gardens and someone who will stay long term.

    The most important thing to me is references from Real Estate Agents. Make sure they are legit - Google the REA's name and call their office not their mobile. Private rental references are risky - they can be anyone (ie. the applicant's friend).

    Option A - work out their servicibility - how much money will they have left to live after they pay rent. This will give you an idea if $300 is a lot of money to them. But you'd be suprised how frugal people can be sometimes. If they get Centrelink payments, rent can be direct debited from their payment (they can stop this at anytime). What does their frontyard look like at the moment? They will probably stay around because they won't be able to find anywhere else. I think they will be good tenants - they have more to loose than option B, a house for their child and their reputation.

    Option B - Google his name and check him out on Facebook... I wish I had done this a year ago. According to Google my tenant was a bit of a gambler. Feel free to send me a private message with his name - he sounds very similar to my previous tenant! I don't think this tenant will have time to maintain the garden and I would be worried about him moving in with a few friends. He can easily find another house to rent so he doesn't have much to loose if he breaches the tenancy agreement.

    In saying all of this I'm not sure if you should take my advice because I've made heaps of mistakes..lol..

    Good luck!

  2. #42
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    I'd go B.

    Our current tenant is a couple the same as option A & im over that they don't pay rent on time or miss a week & don't tell us.

    B is going to have the same income every week.

  3. #43
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    Mining isn't always stable

  4. #44
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    I'd go B.

    Our current tenant is a couple the same as option A & im over that they don't pay rent on time or miss a week & don't tell us.

    B is going to have the same income every week.
    Having the same income every week isn't going to guarnatee rent being paid on time every week or at all for that matter.

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    Alexander Beetle  (30-03-2012)

  6. #45
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    I'd pick B.

  7. #46
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    Quote Originally Posted by Benji View Post
    Mining isn't always stable
    Well no, but then, neither is fruit picking.

    Quote Originally Posted by HarvestMoon View Post
    Having the same income every week isn't going to guarnatee rent being paid on time every week or at all for that matter.
    But it would certainly help ... Having the same income every week means that there IS money available - it's then a matter of whether or not it goes to rent. But seriously, his references say that he has always paid on time, so why on earth would that change when he rents a new property?

  8. #47
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    You're an investor for one purpose - to make money. Which option is financially viable FOR YOU without looking at the personals?

    I'd go B, it's purely business!

  9. #48
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    Quote Originally Posted by Shoopuf View Post
    Well no, but then, neither is fruit picking.
    God no, I'm just responding to the stable income comments as if mining is a guaranteed industry for life.

    I think either option is fine, but to think that one is guaranteed to pay rent forever just because he's in mining for the moment would be a little naive (this isn't what the OP is doing BTW).

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  11. #49
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    But it would certainly help ... Having the same income every week means that there IS money available - it's then a matter of whether or not it goes to rent. But seriously, his references say that he has always paid on time, so why on earth would that change when he rents a new property?
    The fact that they are a family means they are always going to be entitled to some form of government assistance if their income falls below the threshold. So they will always have money available as well. It may not be anywhere near the amount as the single guy but it would be enough to make ends meet.

  12. #50
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    Quote Originally Posted by HarvestMoon View Post
    The fact that they are a family means they are always going to be entitled to some form of government assistance if their income falls below the threshold. So they will always have money available as well. It may not be anywhere near the amount as the single guy but it would be enough to make ends meet.
    Does government assistance really add up to enough to make $300 per week only 35% of the entire payment (which is the maximum portion of income that agents will allow to be allocated to rent when considering applicants)?

    Wow. I never realized it was so much. Our family never got that much when I was a kid, and there were 7 of us.

    Off topic, but I'm really surprised, that's all.
    Last edited by Shoopuf; 30-03-2012 at 22:49.


 
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