{"id":8065,"date":"2018-02-08T05:32:18","date_gmt":"2018-02-08T05:32:18","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/how-to-buy-your-rental-property-before-it-hits-the-market\/"},"modified":"2018-02-08T05:32:18","modified_gmt":"2018-02-08T05:32:18","slug":"how-to-buy-your-rental-property-before-it-hits-the-market","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/how-to-buy-your-rental-property-before-it-hits-the-market\/","title":{"rendered":"How to buy your rental property before it hits the market"},"content":{"rendered":"

<\/p>\n

\n

Are you renting a place you love, but also looking to purchase your first home? Why not buy your rental property \u2013 even if it\u2019s not on the market?<\/strong><\/p>\n

While it may seem counterintuitive to contemplate buying a property that\u2019s not technically for sale, an increasing number of tenants across Australia are doing exactly that and approaching their landlords through agents.<\/p>\n

LJ Hooker\u2019s head of property investment management Amy Sanderson says the phenomenon of renting to own is real. \u201cIt doesn\u2019t happen every day, but it does happen,\u201d she says.<\/p>\n

Sanderson says such bold \u201ctenant-turned-buyers\u201d generally fall into two categories: tenants who have been renting a property for a very long time and are finally ready to buy, yet don\u2019t want the risk of having to move; and potential buyers who move into a rental to \u2018try\u2019 a new area and end up falling in love with the property they are in.<\/p>\n

\u201cFor these tenants, purchasing makes sense,\u201d she says.<\/p>\n

\"cosy<\/p>\n

If you love living where you rent and are ready to buy, why not make an offer<\/a> to your landlord? Picture: Getty<\/p>\n<\/div>\n

But how can it be done? Sanderson says it comes down to research and realism.<\/p>\n

\u201cResearch, research, research!\u201d she says. \u201cGo onto realestate.com.au and search for properties with a similar description to yours and go and view these properties to get a feel for what the real comparisons are.\u201d<\/p>\n

Then, keep an eye on what properties sell for and record it.<\/p>\n

\"sydney<\/p>\n

Research the market to get a true sense of what the property is worth. Picture: Getty<\/p>\n<\/div>\n

\u201cCompare these properties to yours and determine what you believe market value is. If you pay over the odds for a property because you want to secure it, you want that to be your conscious decision, not because you didn\u2019t know,\u201d Sanderson says.<\/p>\n

Armed with market intel and an offer, reach out to the owner, though the property manager.<\/p>\n

\u201cI would suggest putting your offer in writing, so your message is clear and not misconstrued. Discuss that you like the property, what else has recently sold, how this property compares and your price you have come up with,\u201d she says.<\/p>\n

It\u2019s also a good idea to \u201ceducate yourself on the cost and process\u201d of selling a property, so there\u2019s no surprises, Sanderson says.<\/p>\n

\u201cWhere an owner sells direct to a tenant, they may save on some of these costs \u2013 and stresses \u2013 involved, meaning you might be able to negotiate a price that accommodates this saving for both of you.\u201d<\/p>\n

Whether a landlord will sell depends on personal circumstance, Sanderson explains.<\/p>\n

\u201cPeople buy an investment property to make money<\/a>, so for someone to consider selling, they need to feel they have made a return on their investment. The tricky part is, everyone\u2019s view on what an adequate return looks like is different.\u201d<\/p>\n

\n <\/p><\/div>\n

Realestate au <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Are you renting a place you love, but also looking to purchase your first home? Why … How to buy your rental property before it hits the market<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":8066,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[695,1403,15239,62,12908,543,41,1152,818,678,645,15282,907,3053],"class_list":["post-8065","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-agent","tag-buy","tag-chase","tag-for-sale","tag-home","tag-home-buying-guide","tag-property","tag-property-investment","tag-real","tag-rental","tag-renting","tag-ross","tag-tenant","tag-tenants"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":6191,"url":"https:\/\/amazingproperty.com.ng\/blog\/how-do-i-negotiate-for-a-long-term-rental-lease\/","url_meta":{"origin":8065,"position":0},"title":"How do I negotiate for a long-term rental lease?","author":"Amazing Property","date":"September 12, 2017","format":false,"excerpt":"In some parts of Australia, a residential lease longer than 6 or 12 months can be hard to come by, but it is possible to secure one. LJ Hooker\u2019s head of property investment management Amy Sanderson says long-term leases make \u201cperfect sense\u201d for landlords and tenants alike. Landlords, who are\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"rental-inspection_800x600.jpg","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/09\/rental-inspection_800x600.jpg?fit=800%2C600&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/09\/rental-inspection_800x600.jpg?fit=800%2C600&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/09\/rental-inspection_800x600.jpg?fit=800%2C600&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/09\/rental-inspection_800x600.jpg?fit=800%2C600&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":8363,"url":"https:\/\/amazingproperty.com.ng\/blog\/a-guide-to-building-an-investment-property\/","url_meta":{"origin":8065,"position":1},"title":"A guide to building an investment property","author":"Amazing Property","date":"February 20, 2018","format":false,"excerpt":"The difference between building an investment property and a dream home is stark; one is all about the bottom line and the other is closer to the heart. So when it comes to building or renovating a property with the goal of renting it out, investors need to be aware\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Hip Melbourne Cafe 2000x1500.jpg","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/02\/hip-melbourne-cafe_2000x1500.jpg?fit=1200%2C900&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/02\/hip-melbourne-cafe_2000x1500.jpg?fit=1200%2C900&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/02\/hip-melbourne-cafe_2000x1500.jpg?fit=1200%2C900&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/02\/hip-melbourne-cafe_2000x1500.jpg?fit=1200%2C900&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/02\/hip-melbourne-cafe_2000x1500.jpg?fit=1200%2C900&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":7279,"url":"https:\/\/amazingproperty.com.ng\/blog\/how-to-get-a-rental-while-receiving-welfare-payments\/","url_meta":{"origin":8065,"position":2},"title":"How to get a rental while receiving welfare payments","author":"Amazing Property","date":"November 29, 2017","format":false,"excerpt":"Securing a rental property while receiving government welfare payments can be tricky, but it\u2019s not impossible. Tenants Victoria spokesperson Devon LaSalle says the biggest issue is finding an affordable rental property to apply for in the first place. Not only are affordable properties increasingly rare but\u00a0many welfare payments don\u2019t provide\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Renting With Benefits 2000x1500.jpg","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/11\/renting-with-benefits_2000x1500.jpg?fit=1200%2C900&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/11\/renting-with-benefits_2000x1500.jpg?fit=1200%2C900&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/11\/renting-with-benefits_2000x1500.jpg?fit=1200%2C900&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/11\/renting-with-benefits_2000x1500.jpg?fit=1200%2C900&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/11\/renting-with-benefits_2000x1500.jpg?fit=1200%2C900&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":7770,"url":"https:\/\/amazingproperty.com.ng\/blog\/buying-for-short-term-rental-success\/","url_meta":{"origin":8065,"position":3},"title":"Buying for short-term rental success","author":"Amazing Property","date":"January 10, 2018","format":false,"excerpt":"Buying an investment property doesn\u2019t always have to be about playing the long game. Some buyers want to get in, minimise their expenses and maximise their returns in the shortest possible time. If short-term rental success is your biggest priority, here\u2019s how you might approach your next investment property purchase.\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Inner City Rental 800x600.jpg","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/01\/inner-city-rental_800x600.jpg?fit=800%2C600&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/01\/inner-city-rental_800x600.jpg?fit=800%2C600&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/01\/inner-city-rental_800x600.jpg?fit=800%2C600&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/01\/inner-city-rental_800x600.jpg?fit=800%2C600&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":8573,"url":"https:\/\/amazingproperty.com.ng\/blog\/decoding-victorias-proposed-tenancy-laws\/","url_meta":{"origin":8065,"position":4},"title":"Decoding Victoria\u2019s proposed tenancy laws","author":"Amazing Property","date":"March 28, 2018","format":false,"excerpt":"There haven\u2019t been any changes in Victorian tenancy laws for a long time\u00a0\u2013\u00a0current rental laws are 20 years old\u00a0\u2013\u00a0however, change is afoot. The Victorian Government has proposed a range of new reforms aimed at giving tenants of rental properties more rights. With more than one in four Victorians renting their\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Property Couch New Vic Tenancy Rights.jpg","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/04\/Property-Couch_New-Vic-tenancy-rights.jpg?fit=800%2C600&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/04\/Property-Couch_New-Vic-tenancy-rights.jpg?fit=800%2C600&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/04\/Property-Couch_New-Vic-tenancy-rights.jpg?fit=800%2C600&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/04\/Property-Couch_New-Vic-tenancy-rights.jpg?fit=800%2C600&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":127346,"url":"https:\/\/amazingproperty.com.ng\/blog\/tenant-screening-how-to-do-it\/","url_meta":{"origin":8065,"position":5},"title":"Tenant Screening: How to Do It","author":"Amazing Property","date":"July 17, 2024","format":false,"excerpt":"The Importance of Tenant Screening and How to Do It Effectively. As a landlord, one of the most important tasks you have is finding the right tenants for your rental property. A good tenant can make your life as a landlord much easier, while a bad tenant can cause endless\u2026","rel":"","context":"In "Property owner"","block_context":{"text":"Property owner","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/property-owner\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2024\/07\/718eead3c4764eb8e7d24a050845cacd.jpg?fit=640%2C480&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2024\/07\/718eead3c4764eb8e7d24a050845cacd.jpg?fit=640%2C480&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2024\/07\/718eead3c4764eb8e7d24a050845cacd.jpg?fit=640%2C480&ssl=1&resize=525%2C300 1.5x"},"classes":[]}],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/02\/cosy-rental_2000x1500.jpg?fit=1885%2C1414&ssl=1","_links":{"self":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/8065","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/comments?post=8065"}],"version-history":[{"count":0,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/8065\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media\/8066"}],"wp:attachment":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=8065"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=8065"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=8065"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}