Some advantages of purchasing tenanted property.

Number one, and I know I harp on it a lot but it is very important - less competition. Remember anything that has the potential to turn you off, may also turn off the others that would typically be bidding against you.

An important note about tenanted properties is that they actually have to be cleaned on exit so they have to be returned to the original condition as when the tenant moved in. Owner occupied properties do not have to be cleaned upon exit.

Most sellers do a pretty good job of cleaning and they do their best, but as we know a lot of people have very different standards of clean. No matter how high those standards are, the bond clean will be better.

The other big thing is maintenance. So, if there is an issue, big or small with a tenanted property the tenant just rings the property manager the owner fixes it, no skin off their nose no money out of their pocket and the problem is fixed. With an owner occupier obviously it is money out of their pocket so those jobs can be put off so you can end up with dozens of little things that need repairing or worse still, one little thing that has grown and snowballed into a big thing.

Adding to the maintenance advantage, there is no need for a tenant to hide any shortcomings or upcoming repairs required to a property. Sometimes a seller will try to hide things to avoid incurring the cost of repair before they sell, or during the sale.

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