Will You Be A Good Landlord?
Investing in property is one of the most popular ways that Australians choose to grow their wealth.
If you’re considering buying a rental property, no doubt you will be investigating investment loans to ensure you can get the best finance deal.
First time investors often choose to manage their own properties. If you are just starting out, you might not be able to afford to pay someone else to do this, or you may wish to save money on something you can do yourself.
So what are the qualities of a good landlord?
Perhaps most importantly, it helps to be a people person. You might deal with all sorts of tenants, so being able to relate to them, as well as treat them with fairness, honesty and respect will be a big plus.
When things need fixing - and for general maintenance too - it can be very helpful to have some DIY skills. Being able to repair something yourself can save you having to pay a professional.
Financial stability is another great attribute. When your property is vacant, it can take time to find more tenants, so having the funds or income to stay afloat during that period is critical.
To get more detailed information on your situation, talk to a Loan Market mortgage broker today.