Attracting good tenants for your investment property

Owning an investment property is a great way to build equity for your future whether that be planning for the short term or into retirement. One of the challenges to ensuring that your investment runs smoothly is finding a great tenant.

A tenant that maintains a clean rental history and looks after the property can reduce any stress around your rental and will ensure that the tenancy ticks along smoothly.

Retaining a good tenant ensures that you can minimise a loss in rental returns as the longer a property sits vacant, the more you lose in potential revenue.

Meticulous tenancy screening

It is part of the Property Managers role to ensure that they carry out thorough reference checking for all applicants on your property and will then communicate their suitability with you. They will also conduct regular routine inspections and provide feedback to you and the tenants where there are concerns that need to be addressed.

A key aspect to finding good tenants is maintaining a property that is appealing and priced right to attract the best possible applicants who will take care of the property and pay rent on time.

Perfect property presentation

Property presentation is important and before renting your property, our property management team can walk through the home with you and provide recommendations on potential improvements that appeal to great tenants.

You may need to consider a refresh of interiors like paint, carpet, and blinds or an update to appliances like dishwashers, air conditioners, dryers, and kitchen appliances. Many of these items are considered to have a life span of 10 years and updating these can give the property a new life and attract the best tenants.

Depending on the age of the kitchens and bathrooms, it may be recommended to update these rooms. These more extensive works can take time and are a considerable investment. Knowing what is needed can help you plan for future renovations.

Professional cleaning and maintenance

Before showing the property to prospective tenants, ensure that it is clean and that the lawns and gardens are well maintained. This helps to create a benchmark at the start of the tenancy and ensures that the tenant is moving into a well-maintained home.

If you prefer that the lawns and gardens are maintained to a particular standard, it is recommended that this is included with the tenancy as not everyone has a green thumb. As with any investment you need to consider expenses for day-to-day bills as well as repairs and maintenance costs.

Contact our property management team who can provide recommendations and help you to find the best tenants for your investment.