Be prepared for a bad tenant

Property is a favourite investment for Australians. The latest tax office figures show more than 2.2 million of us own at least one investment property and many more have come on board in the past 12 months. In fact, the past year has seen a 113% increase in loans to investors as everyday Aussies take advantage of record low interest rates to build their wealth through a rental property.

The property pump shows no signs of slowing either. A Finder survey found 7% of Australians are looking to buy an investment property before the end of 2021. And it seems investors getting into the market today are benefiting from rising rents. CoreLogic reports that national rental rates are currently 6.6% higher over the year, the highest annual growth since