Every landlord wants to find a quality tenant who will treat your property as their own.
So how do you find the best tenant for your rental?
There a few things to consider if you want to put your best foot forward and attract a great tenant. Here are some tips from MARQ’s property management team:
First impressions
Presentation is key when putting your investment property up for rent – and that means investing time and effort to boost the appeal of your home.
A thorough clean, garden tidy and attending to general maintenance will help make your property shine in advertising and professional photos, and will likely boost the amount of interest from prospective tenants.
“Presentation should be a key consideration when offering your property for lease and can make a big difference in your ability to attract the best tenant,” said MARQ Leasing Consultant Kayla Adele said.
“Consider having the property professionally cleaned, give it a lick of paint or have new carpet fitted if the floorcoverings are looking tired and worn. It will make the property a lot more attractive and ensure high standards are maintained during the term of the tenancy.”
Enlist an expert
Having a well-informed property manager on your side can be a great asset.
In most cases, capable property managers are familiar with the area and rents that can be achieved in your suburb, and should have an intricate understanding of the local market.
Not only can they help find a tenant, but a good property manager will know all the necessary checks to make to help select the best applicants. This includes having access to systems to check an applicant’s tenancy history to help weed out undesirable tenants.
“Good property managers will conduct thorough reference checks, meet applicants in person and have a sound understanding of relevant tenancy legislation,” Kayla said.
“Doing reference checks of applicants to confirm the information provided is correct is vital in determining whether the prospective tenant is the best person for your property.
“Importantly, property managers should also be well-connected and be willing and able to use their close networks and databases to reach more suitable applicants.”
Marketing
Quality photographs will pay dividends when it comes to marketing your property to prospective tenants, so it’s a worthwhile investment in time and money.
Turn to professional photographers and videographers who are skilled in presenting real estate in the best possible light.
“Using multiple advertising platforms to ensure you’re reaching the maximum number or prospective applicants is integral to successfully finding a good tenant,” Kayla said.
“It’s also important to be in tune with the current market and to price the property competitively. Don’t be afraid to adjust the price if required.”
Other ideas to help market your rental property include advertising via social media and erecting a sign at the front of the property to catch the eye of prospective tenants already in the neighbourhood or people passing by.