How do you attract good quality tenants with high rental return?

Hey there,

There has been a lot of talk in the media about rental prices increasing and the rental market being extremely HOT.

The rental market has taken a turn for the better and there has been some major rental increases and price achievement.

It is all cheers with the champagne glasses when you achieve the high rental return after only 1 day on the rental mark, but have you found the right tenant?

Read the below tips on - How to attract a good quality tenant.

Investment property is a huge asset and having the right tenant and agent will make it an even better asset with cashflow constantly coming through.

As many owners have already experienced the tenant from hell. It may have been daily calls to fix a loose door handle or mould growing in the bathroom from poor ventilation, or not knowing how to operate the air con.

These problems, no matter how big or small, can make owning a rental property a real nightmare; especially if you’re managing the property yourself. What is the best way to avoid the tenant from hell? Secure the best tenant you possibly can.

This is not as easy as it sounds, and it can be tricky. Sourcing out a good quality tenant comes with years of experience. Have a read of our top points below.

1.      Present your property well.

If you look after your property and present it well, you are more likely to attract people who will pay it the same respect.

Stop and think about who you want to attract to your rental property in the first place. And then you need to ensure you are catering to that demographic in the way you offer the home – think about the cleanliness, upkeep, and renovation jobs you might undertake before renting your place out.

You don’t need a brand new property in a great location to attract the best tenants. You just need to provide appropriate accommodation to attract suitable tenants. A clean and tidy property, with well-kept fixtures and fittings in working order, is a good start.

2.      Take note of attendees at the inspection.

We take note of all attendees that come through the property, from organised couple to the couple that were having a cigarette outside the property, to the way the tenants walk through the property.

3.      Applications are thoroughly checked.

We check all our applications thoroughly and contact all references, then we submit a breakdown to you with our recommendation of which tenant would be the most suitable.

Some of the points we look for in an application are.

-        how many times have they rented in the last 18 months.

-        was their bond refunded in full.

-        have they paid their rent on time.

-        was routine inspection conducted at their current property and how did they maintain the property.

-        cross verify their employment and paperwork.

-        contact their personal reference.

4.      Our recommendation

 We’ll always recommend the tenant that stood out the most and had a great application.

However, you have the final say as you must be comfortable with who is living in your biggest asset.

If you don’t feel comfortable with any off the applications presented after the first inspection and there is no desperate urgency to rent the property, then don’t be afraid to have another round of inspections.

Its best to have a good, respectful tenant, then a bad tenant. Trust me!

Connect with us and let’s find the best tenant and get you that strong rental return.

Get in touch!