What tenants want
As they say, time is money and for an investment property that’s particularly true. Every day that your rental property sits empty without a tenant directly impacts your hip pocket as the landlord.
So how can you secure a good tenant quickly and also minimise the time between leases? Well, it’s all about considering what tenants want…
Location is the key consideration for most tenants when it comes to commencing their property search. The majority are looking for somewhere that’s close to their workplace, in a good school catchment or where public transport is readily accessible.
Convenient amenities like shopping centres and medical services are also a drawcard, and if the location happens to boast community facilities nearby like sporting precincts or a beach, that can prove attractive too.
Safety and security
Hand in hand with location is the feeling of safety and security. A safe and welcoming neighbourhood is a plus, while in some areas security features such as gated communities, home security systems or secure unit complexes could be a positive.
Whether it’s a lockup garage or a secure undercover car park, off-street car parking is a major drawcard, particularly when it comes to busy neighbourhoods near any CBD.
These days most families have more than one vehicle, so a two-car garage is always a bonus, while an allocated single space might suffice for a unit.
No tenant wants the ongoing hassle of frequently requesting repairs and maintenance. A rental property should be in good condition and require as few repairs as possible during a tenancy.
That’s why it’s important landlords keep on top of routine maintenance and perform pre-emptive repairs between tenancies while ensuring their property remans well-kept and appealing.
Living and working from home due to the events of 2020 means an outdoor space is now more important than ever. But truth be told Australia’s climate means we’ve always had a penchant for the indoor/outdoor lifestyle.
Even if it’s just a balcony or small outdoor entertaining area, appealing outdoor spaces are a big plus for tenants.
A co-operative landlord
The relationship between a tenant and a landlord should be one of mutual respect where both parties adhere to their obligations and the value of the property is protected throughout the tenancy.
Working hand in hand with their property manager, a co-operative landlord will handle any repairs and maintenance in a timely manner, minimise disruptions to the tenant’s life where possible, and follow through on any commitments they make about updates or alterations to the property.
This helps establish that relationship of mutual respect, allowing the tenant to feel valued and appreciated for the role they play in looking after your property.
Why considering a tenant’s needs matters
A great tenant is worth their weight in gold and going the extra mile to secure then keep them is a prudent business decision for any savvy landlord.
Importantly, the investment you make into a property to attract good tenants also enhances that property’s value, serving to maintain it over the lifetime of your investment.
How we can help
Our experienced property managers pride themselves on establishing great relationships with both tenants and landlords. We manage every property as if it were our own and you can learn more about our property management services here.