In response to Milesy's post , yes you can have dodgy tenants , maintenance issues , big bills coming up unexpectedly ( hws/dishwasher etc ) .
This is all part of good property management by yourself and assisted by a good property manager . Property ownership is not for everyone but is rewarding if you're up for it .
Manage your properties like a business . Plan your maintenance . Fix things before they're broken . Survey your appliances for their age and cost so you know how much life they have left and what they cost to replace . Get rid of the unknowns . Plan ahead for painting , carpets etc . Some of these things have to be done when the place is empty so allow for it and be ready when the opportunity comes along . Even though they cost money , chances are you'll be able to charge more rent for a place that has been painted and has new floor coverings . In a way they'll pay for themselves .
Continuity of rent . The better or more suitable house you have , the better tenants you get and the longer they stay . Having long term tenants is gold in my view . So , do your homework on buying the right property . The more right the property is the better tenants you will have .
