For many landlords, finding high quality tenants is like striking gold. It’s not an easy thing to do but when you’re successful you continue to enjoy the benefits for years to come. Finding quality tenants is only half the challenge though. You also have to keep them, otherwise you’ll find yourself back at square one. If you want an investment property that offers less stress but more profit, then consistent and reliable tenants are key. Luckily for you, we’ve compiled a range of strategies to help you in your quest.
Appearance is Everything
When it comes to renting, appearance is important – and we’re not talking about potential tenants. We’re talking about your property. If your rental home looks dilapidated, damaged or is in disrepair then it’s not likely to attract long term tenants. If necessary, apply a fresh coat of paint, repot the flowers in the garden and give the lawn a good mow.
After you’ve addressed the first impressions, turn to the inside. Are your appliances out of date? Is the furniture beyond repair? Addressing little things like this can help to seal the deal with a reliable tenant and it could even let you raise the rent too.
Invest in Advertising
Sometimes you have to put yourself in the tenant’s shoes and ask yourself, what would they want? Effective advertising isn’t just about letting tenants know that you’re renting, it’s also about showing off you’re property’s most attractive features.
Are you in the perfect area for families or is your kitchen the definition of modern living? Whatever it is you have to show off, make sure its front and centre in any advertising you do.
Become a Scrupulous Screener
The other side of finding the perfect tenant is, of course, making sure you don’t let the wrong ones in. Always check for past evictions, poor credit scores and large debts. Police checks are also an effective way to determine the nature of your tenants.
Other things to do include asking for professional references and keeping an open mind. Your perfect tenant might look completely different to what you had in mind.
Keep on Top of Repairs
Making sure your property looks good at the outset is one thing, but keeping it in that condition is the key to retaining tenants. When a tenant informs you that something is broken, fix it quickly.
Also perform regular maintenance, even when things are in perfect working order. These little things can help you to maintain strong relationships, while also saving you money and adding convenience for occupants.
If you need a bit of extra help with tenant management, an expert property manager could be perfect for you. At Jones Ballard, we are property managers in Perth, with years of real estate experience. From finding the perfect tenant to taking care of maintenance, our team does it all.