Advice on selecting tenants for IP in Sanctuary Point (near Nowra and Shoalhaven)

Discussion in 'Property Management' started by Ekin200, 24th Dec, 2016.

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  1. Ekin200

    Ekin200 Well-Known Member

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    Having recently purchased an IP in Sanctuary Point that is due to settle in late January, I was hoping for some general advice in selecting tenants and using meaningful criteria used by other IP owners in the south coast region (e.g. Nowra, St george basin, shoalhaven). This is the first time I have invested outside of Sydney (inherently I dont have a deep understanding of the demographics in the nowra area apart from online research) so any unique insights from other users with similar experience in finding a reliable tennant in the area would be greatly appreciated. Thanks!
     
  2. wylie

    wylie Moderator Staff Member

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    Will you be using a PM? I'd leave selection to the PM.
     
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  3. Patamea

    Patamea Well-Known Member

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  4. Ekin200

    Ekin200 Well-Known Member

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    Hi Wylie. Thanks for the reply. Plan to use the REA that we purchased the property through. Would it be a better idea to use a PM in that particular area (I am a complete newbie when it comes to the south coast)? The other IPs in Sydney are managed by REAs that we have a good relationship with.
     
    Last edited: 24th Dec, 2016
  5. Marg4000

    Marg4000 Well-Known Member

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    I always preferred a local PM.
    They are regularly driving around in the area and can keep an eye on a property if things seem to be going a bit wrong with a tenancy.
    Usually they have good local tradies for any repairs or maintenance.
    Another advantage is that they usually have many properties in the area so prospective tenants can view yours if their target property does not suit, or if they miss out.
    Marg
     
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  6. BuyersAgent

    BuyersAgent Well-Known Member Business Member

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    Hi @Ekin200 I agree using a local agency is better than going alone especially if you are distance. Will send PM.