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A common mistake made by novice landlords is a lack of preparation or work on the home before putting it on the rental market. The reality is, however, that the most discerning prospective residents, who normally are your ideal renters, demand attention to detail.
Outside condition of the property. This is the part that will formulate a “first impression.” Make sure the shrubs and trees are properly trimmed; the grass is cut and tidy; the walks and driveway are edged and groomed. The exterior paint condition is critical as well. Peeling or dirty exterior paint is a sign of an untidy house and not what you want to convey in your first impression.
IT depends on the contract I think.
If the contract state something about a specific rules.
If the lease breaks the rules. Time for the owner to decide what to do next.
- Determine if you can use the equity in existing property to help fund the purchase.
- Choose the most appropriate loan structure. e.g Interest Only / Principal and Interest or Fixed Interest / Variable Interest
- Choose the appropriate lender and loan product.
Consider pooling your resources. If you find that your budget won’t allow you to get into the investment property market on your own, consider investing with friends or family in a share of an investment property. With pooled resources you may also be able to afford a larger investment property and attract a larger rental return.
Take visit to your local power and water agencies. They have to visit your area for approval. And at the same time you may ask them.
The FHOG provides eligible first home buyers with a $7000 grant. This grant is not means-tested nor is it restricted by the price of the property for contracts entered into prior to 1 January 2010.
