We know that ALL Landlords want good quality tenants, who wouldn’t? They pay their rent on time, they look after your investment property and they’re easy to deal with which means, you get more free time to enjoy your life, stress-free without having to worry about your tenants.
However, it is NOT just being good at filtering applications from prospective tenants that is the key to securing the right one. Whilst this step in the process is very important, you’re very unlikely to even receive a good application without first attracting the right type of tenant to the home in the first place.
Rest assured though! Because we’re experts, we have some very useful tips that will help you attract a good quality tenant every time.
1) Attract as Many Potential Tenants for Inspections as You Possibly Can
The more people that inspect your property, the larger pool of prospective tenants you have to choose from. There are very effective ways you can ensure more people inspect your property as opposed to your competitors.
a) Boost Your Online Advertising Campaign – Use Premier Listings
99% of your potential tenant enquiry comes from 2 main real estate advertising sites (Domain.com.au & Realestate.com.au). However, when searches are launched there are only 20 rental listings per page. Did you also know 53% of prospective tenants do not go past the first page on their first visit? Luckily, you can purchase different types of rental listings to ensure your property is on the first page and as close to the top as possible meaning MORE tenants will see your property.
b) Make Sure Your Property Looks Aesthetically Pleasing in the Photos – Get Professional Photos
As humans, we have an aesthetic brain – we’re attracted to ‘pretty’ things. Whilst smartphones have great cameras now days, they do not digitally enhance your photos anywhere near as close to what a professional can do. Professional photographers will make your property look bigger, brighter, cleaner and just better by digitally enhancing the images. They can even digitally insert virtual furniture into the photos that is modern, clean and new. If you have prettier pictures than your competitors, we humans are naturally more attracted to your property.
2) Write a Compelling Advertisement
Tenants aren’t just looking for a 4 bedroom, 2 bathroom low set brick home with a double garage…. They’re looking for their next home which they hope comes with a series of features and lifestyle benefits. If you do not detail these in your advertisement, they won’t know about them and may choose to look at another property instead.
Sell the lifestyle – is your property close to the beach, parks, sporting stadiums, markets, think about how your tenant could benefit from living in your property.
Sell the features – tenants LOVE things like dishwashers, fully fenced yards, air conditioning, entertaining areas, built in storage and so on. Make sure these are detailed and highlighted in your advertisement.
3) Regular Maintenance and Upkeep is Key – The Property Needs to be Well Presented
Any good quality tenant is sort after in the marketplace and they will seek the best possible value for money. When you purchase second-hand furniture, you naturally devalue items that are outdated, dirty, marked etc and may end up not buying the item at all. This is the exactly the same as rental properties.
Things like fresh paint, new carpets, new curtains/blinds updated stainless steel appliances, replacing old door handles in kitchen and bathrooms, neat and tidy lawns and gardens make a HUGE difference in how your property presents to potential tenants.
The better presented your property is, the more desirable it is to potential tenants and therefore, will result in your property renting faster.
4) It Needs to Be Easy for Tenants to Get There
If your tenant cannot quickly and easily get an inspection on your property, they will very quickly move onto the next one and forget about yours, so you need to make it easy for your tenant to book an inspection and be responsive to their queries.
By utilising online systems where tenants can book their inspections online and receiving notifications about the property (ie: price drops etc), you will significantly increase the amount of potential tenant enquiry you can get on your home.
5) Thoroughly Screening Will Pay Off in the Long Run
Thoroughly screening any applicants will save you money in the long run. The last thing you want to do is go to all this effort to end up putting in the wrong tenant.
Communicate with the applicant – find out why they’re moving? Who will be living in the property? Can they afford their bond and first 2 weeks rent straight away? Can they do a longer lease?
The answers to these questions will tell you a lot about the potential tenant and how committed they are to your property.
Ensuring the applicant has not been blacklisted, checking their previous rental history, checking their employment and personal references will filter out undesirable tenants.
Next time you need to find a new tenant for your investment property, try these 5 simple steps and see how easy it can be to attract a good quality tenant.
If you liked our information and advice and want to know more or would like to talk to us about how we can help you get the best return on your investment possible, give us a call or send us a message! We’d love to hear from you.
Don’t forget! If you have a friend or family who may be interested, refer them through to us! If they become and an Excellent Owner, we will give you $200 cash!