- 26 January, 2016
- PROPERTY MANAGEMENT, RESIDENTIAL
- Investment, Investing, Questions
What is the value of the home?
If the property is being marketed without a price, ask the real estate agent for examples of comparable sales in the surrounding neighbourhood. This will help you formulate an opinion of what the property is worth, prior to submitting an offer.
Have you had any offers on the home?
Asking the agent if there have been any offers on the property helps you gauge the level of demand in the property and wider market.
The agent may even tell you if offers have been declined by the owner, which could provide you with useful information when you craft your own to submit to them.
How much rent is the current owner charging?
Many investment properties will have existing tenants paying rent. If you intend to purchase the property as an investment, it is important to know how much rent the property currently attracts.
It’s also important to note how much rent is being charged for comparable properties in the area. Also ask the property manager how long the tenants have been living at the address.
If you are thinking of making alterations or additions to the property, it is important to know the conditions of the current tenants’ lease.
What developments and public transport services are in the area?
Community facilities such as parks, pools, shopping centres and café strips attract renters who want an array of amenities in proximity to where they live.
Proximity to bus stops, train stations or other public transport are also features of an attractive rental property.