What can I do to make my property more attractive to tenants?
Attracting and securing the right tenant for your property is crucial for two reasons: to achieve a good return on your investment and to find mature, respectful tenants who are going to look after your asset.
We have found that often a small investment spent preparing a property for rent can make all the difference in engaging a suitable tenant in a shorter time frame and at a higher rental amount.
So what makes a property more attractive to tenants?
Renters will typically look for:
- Properties that present well and are clean, well maintained and safe
- Properties that are not going to require a substantial cost to maintain on top of their rent
- Desirable location, close to amenities such as schools, shops, medical and transport
- Fair value for money
- Pet friendly or child friendly depending on their circumstance
- Good storage throughout, including built-in wardrobes
- Adequate ceiling fans and air-conditioning
- The number and size of bedrooms
- The provision of entertainment and living spaces
- A good internet connection
When putting your property on the rental market, it’s wise to factor in advertising funds which will maximise your property’s exposure. We want to reach the widest possible audience to increase your chances of attracting the right tenant. Higher quality marketing will generate significantly more interest and tenancy applications, allowing you to choose the most suitable candidate for your property.
It’s equally important to continue maintaining the property whilst advertising for a tenant. Simple tasks such as keeping the gardens and lawns tidy, and storing the rubbish bins out of sight can enhance the first impression. The street appeal of the property is also very important as many prospective tenants will disregard a property and not bother with an inspection if the exterior is poorly presented.
When the property is vacant it presents a good opportunity to fix any maintenance issues. Small details such as missing or broken light fixtures, concrete areas that require pressure cleaning, scuffed or chipped walls, torn fly-screens, leaking taps etc can easily be repaired and improve the desirability of the home.
Neutral interiors are always more attractive and a light coat of paint can immediately enhance the look and feel of the property. If you have the funds – installing an air-conditioning unit, dishwasher and good quality stovetop oven can significantly increase the overall appeal of the kitchen and living areas.
Often a small investment to attract the right tenant more quickly, will result in a strong rental return as opposed to having the property remain vacant for weeks on end.
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