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Why turning to accountants to shore up rental applications could be problematic
By John Buckley
20 April 2021
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1 minute read
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Accountants are increasingly being pressured to provide capacity to repay statements, as real estate agents and landlords join the banks in shifting credit assessment risk amid a booming property market.
The practice of banks asking accountants to sign off on a client’s ability to repay a loan has been a cyclical issue for the profession, but the trend has now extended to real estate agents and landlords who are flocking to accountants to shore up rental applications.
In parts of regional Australia, where property vacancy rates are hovering around the 1 per cent mark, said Gavin Swan, director of Absolute Accounting Services on NSW’s Central Coast, it’s a relatively new trend.
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