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“If you were born without wings, do nothing to prevent them from growing”….not only do I love this line, I dare say that I treat the word ‘wings’ much more than metaphorically. For me, our goals are what tie us to the salivating proposition called ‘peace’ and how we achieve them has a lot to do with who we are. Having given my life to the world of properties, most of my big, small, and medium goals have been related to the property world.

I feel that the path which mixes personal life with the professional is among the most difficult paths to tread. Yet, willingly or otherwise, we let the paths converge at times. An instance- landlords often have to take the tough decision of renting to their own family. At times, it might even be out of sheer love and quite a fancied decision.

However, it might be bent; there is no denying the hassles which can raise their ugly heads on a later day. Let me share with you a few tips to lessen any emotional or financial damage that such an arrangement can bring.

Data furnished by the Reserve Bank of Australia in September reveals that nearly $18 billion in Self Managed Super Funds (SMSFs) is invested in the residential real estate. This, as a ballpark projection, represents nearly 3.6% of the total SMSF kitty (evaluated at roughly $500 billion).

In the last 18 months or so rental returns have come up a long way. Yet, many landlords, unaware of the situation keep charging rents a lot below market standards. I know a few people who are happily paying meagre rents praying each day that their landlords do not come to know of the existing market rates.

This is not the only aspect which a landlord should be informed about. In addition, he should know everything about the tenancy agreement, history of rent payments, council compliance reports and so on. The job is willingly undertaken by a property manager if you have employed one. If not, it falls within your ambit of diligence. Let me take you through a few facets of landlord-ship.