How to find a fabulous renter
When you own an investment property, a great renter is akin to the Holy Grail.
Not only do they look after the property and pay their rent on time, they’re also likely to stay longer, working with the property manager and flagging potential issues with your property long before they become major problems.
But how exactly do you find and attract great renters?
Property appeal
Oten finding the right renter starts with the property itself. It involves presenting the property well and ensuring it is in good condition.
That doesn’t necessarily mean the home has to boast state of the art appliances and all the latest high-end finishes, but instead, should be well-maintained, clean and well-presented.
Well-presented properties set the standard of how the property should be looked after.
The right people for the right property
Just as properties that are selling have an ideal buyer, every rental tends to have an ideal renter. This is the type of person the property is likely to suit.
For example, an upmarket unit in a central city location is likely to suit professionals while a four-bedroom house with pet friendly yard in the suburbs might be better suited to families.
Knowing who your rental property is likely to suit allows you to include the features which that ideal renter might like, and also to advertise the property in the right places to the right people.
The right price
Every investor wants a good return on their rental, but when it comes to setting the price, there is always a sweet spot.
The right price attracts the right type of quality renters, treading the fine line between maximum return and affordability.
Good advertising
Good advertising showcases your rental to the right people in the right places in the best possible way.
This advertising includes photography that accurately represents the property in an appealing manner, highlighting the home’s major drawcards.
Photography is accompanied by a good write-up, which provides potential renters with an insight into what the property offers, when it’s available, the length of the preferred rental agreement, and any specific conditions that might relate to the property.
This write-up sets the tone of good communication moving forward, offering insight, clarity and transparency.
Applicant screening
Once you have people interested in your rental property, screening the applicants becomes paramount.
This process involves checking they are who they say they are, have the income to pay the rent, and also have a solid track record of looking after rental properties.
Good property manager
Finding a fabulous renter for your specific property is a key part of your property manager’s job.
A great property manager will:
- Know the market, including current supply and demand for rental properties in your area that are similar to yours
- Propose a fair price for the property
- Identify your property’s unique appeal
- Understand who this property is likely to appeal to
- Create an advertising campaign that allows your rental to stand out from the crowd
- Host open homes to show people through the rental property
- Thoroughly screen all applicants
- Liaise with the property owner about the applicants and agreement terms
- Handle all the paperwork required, including bond lodgement, the rental agreement, any special conditions and more
Each of these tasks helps ensure your property has the right renter – a person who suits the home, clearly understands their obligations and has the capacity to meet them.
That makes a good property manager an essential part of finding (and keeping) fabulous renters.
How we can help
Our experienced property managers pride themselves on establishing great relationships with both rental occupiers and owners.
We manage every property as if it were our own and you can learn more about our property management services here.
Alternatively, if you are looking to rent a property, you can view the properties we currently have available here.
