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PROPERTY INVESTOR NEWSLETTER JANUARY – FEBRUARY 2013 This newsletter has been designed to keep you updated on what is happening within the industry and our agency FROM OUR PROPERTY MANAGEMENT TEAM HOW DO WE CHOOSE THE BEST TENANT? We understand that one of the top priorities for property owners is that we choose the best tenant for the property who will pay rent on time and care for the property. Depending on the time of the year and the supply and demand of tenants we can often receive more
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    IMPORTANT : This is not advice. Clients should notact solely on the basis of the material contained inthis newsletter. Items herein are general commentsonly and do not constitute or convey advice per se.Every effort is made to ensure the contents areaccurate at the time of publication. Clients shouldseek their own independent professional advicebefore making any decision or taking action. We takeno responsibility for any subsequent action that mayarise from the use of this newsletter. Published byTHE PPM GROUP - www.ppmsystem.com FROM OUR PROPERTY MANAGEMENT TEAM  IMPORTANT REMINDERFOR THE ROMANTICSAT HEART14 th February If you are looking for a note for your  Valentine’s card we have a short poem for you. You’re in my thoughts and in my heart, wherever I may go  On Valentine’s Day,   I’d like t  o say I care more than you know  From everyonein our propertymanagementteam  – we wishyou a veryspecial day. WE CARE ABOUT OURCLIENTS & THEIRPROPERTIES We understand that one of the toppriorities for property owners isthat we choose the best tenant for the property who will pay rent ontime and care for the property.Depending on the time of the year and the supply and demand of tenants we can often receive morethan one application for theproperty.So how do we choose the besttenant when processingapplications? Ability to pay the rent To ascertain the tenant’s ability topay the rent we look at the house-hold ’ s net income. The generalrule of affordability is the 30/70%rule. If the income is $1000 per week the tenant/s should be ableto afford $300pw in rent. Stability of employment This is important to review to determine the tenant’s ability to maintain the rent. If we receivemultiple applications we wouldchoose tenants who have secureemployment (full-time) and whohave been with the employer long-term compared to multiple 2-3month positions. Ability to maintain theproperty The best way to ensure thetenant will maintain theproperty is by checkingprevious rental references andwhether they received a fullbond refund at the end of thetenancy. When accompanyingtenants to the initial inspectionwe also try and meet or saygoodbye to the tenant at their car so that we can see howthey are caring for their car.Generally the way a tenantcares for their car will be areflection on their housekeeping. Good previous record oftenancies Good long-term tenants areideal. It will reduce the costsof tenancy turnovers (i.e.additional letting costs andadvertising) and it will reducethe amount of wear and tear on the property. We want towhere possible avoid tenantsmoving in and out every sixmonths. A tenant who has aprevious record of tenancy of 2-4 years will be better thanseveral six-month rentingperiods. Continued over >    HOW DO WE CHOOSE THEBEST TENANT? This newsletter has been designed to keep you updated on what is happening within the industry and our agency  PROPERTY INVESTOR NEWSLETTER JANUARY   –  FEBRUARY 2013IN THIS ISSUE How do we choose the besttenant?   Q & A End of TenancyProperties recently rented    WE ARE FOCUSED ON MAXIMISING YOUR RENTAL INCOME AND OPTIMISING YOUR CAPITAL GROWTH  2 Ascertain whether pets areinvolved There are pros and cons toaccepting pets. It can attract moretenant enquiries and a little higher rent. However, the downside isthat there is a greater risk of wear and tear on the property. Are they of good character? It is important that we ensure thatthe tenant is going to work with usduring the tenancy to make themanagement of the property aseasy as possible. We havestrategic interviewing techniquesto determine what type of tenantthey will be. Ascertain the number of peoplesuitable for the property The number of people will have adirect impact on the wear and tear of a property. If we have multipleapplications we do take this intoconsideration. As you can appreciate when wereceive applications there may bestrengths and possiblyweaknesses that we will berequired to take into consideration.You can be confident that our focus is always to choose the besttenant for your property. ■   Chill out with Sudoku Every row & column, and 3X3 box, mustcontain the numbers from 1-9. Good luck! Q & A Tenant Bonds Q I am concerned that thebond will not cover possibledamage to the property as wehave expensive inclusions andfittings. Can we ask for a setamount or greater than fourweeks rent? A There are strict legislationguidelines that state you cannotcharge anymore than four weeksrent for a bond. If we were to askthe tenant to pay a greater amountit would be considered contractingoutside of the Act, which hasserious penalty fines that can beimposed.Choosing the best tenant andconducting regular inspections willminimise the potential for damage. LANDLORDPROTECTIONINSURANCE Do you ever worry about the tenant’s situation changing and them not being able to afford rentand falling behind in payments?With the economic climate beingso erratic for many tenants andfamilies sometimes changingcircumstances cannot be avoided.That is why we highly recommendlandlord protection insurance as itwill cover you for loss of rent andproperty damage.This insurance cover is a taxdeduction. ■   * Policy Terms & Conditions apply Properties Recently RENTED…   Keeping you updated on thelocal rental marketHOUSES Whitlam Grn Point Cook 4 bed$345Delmont Crt Wbee 3 bed $340Sheringham Dv 3 bed $280 UNITS Morris Rd HXing 2 bed $250Tower Rd Wbee 2 bed $250Margaret St Wbee 3 bed $265 Properties Recently SOLD…   Keeping you updated on thelocal sales market Clitheroe Dv 3 bed $247,000Olivetree Dv 4 bed $620,000Church St 3 bed $395,000We ’ d like to take this opportunityto introduce our newest member of staff, Kylie McLean.Kylie will be the smiling face atreception on Monday, Tuesdaysand Wednesdays. She comes tous with a wealth of knowledge withan administration background andwe know she will be a great assetto us here at PRD Real EstateWerribee. Next time you see her or speak with her on the phone besure to say ‘ hi ’ .  
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