Top Tips In Buying An Investment Property

Our Top Tips In Buying An Investment Property …with an existing tenant.

 

Gained from almost 30 years of helping thousands of Investors

 

 

Obtain a Tenancy Ledger

 

“These tenants had not paid their rent in months… It was an accident that I saw the tenancy ledger.” Comment from a buyer in the marketplace who bought from another agency.

 

The buyer above quickly changed the terms of the purchase to vacant possession upon settlement before signing the contract. They liked the property but didn’t want the risk of taking on a problematic tenant.

 

Your Conveyancer or Solicitor may not advise you on this, but we suggest requesting and obtaining a tenancy ledger. You will learn very quickly if the existing tenants are good at fulfilling their obligation to pay their rent. Is it paid on time? Is it paid in advance? Are they are constantly in arrears?

 

Need help in analysing a rental ledger and determining if a tenant could be problematic? Not everyone finds it easy.  Text, email or call the Team at John Pye Real Estate today for obligation-free help.

 

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