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 In Lifestyle Property Management

Top 5 Tips for Landlords to Attract Quality Tenants

A good tenant will treat the property as though it is their own, consistently pay rent on time and alert you to any maintenance issues that need to be addressed.

A good tenant will treat the property as though it is their own, consistently pay rent on time and alert you to any maintenance issues that need to be addressed. As it is more cost effective to retain an existing tenant as opposed to finding a new one, we’ve compiled our top five tips for landlords to attract quality tenants.

Presentation is key

Marshall White business development manager Neil Harris has specialised in property management for over two decades. Neil emphasises the importance of the drive-by appeal of your property when it comes to attracting quality tenants, especially those who are looking for a long-term rental.

‘A tidy façade will encourage people to want to check out the rest of the property. Furthermore, great presentation sets a precedent for how we expect a property to cared for during the tenancy and helps attract discerning, quality tenants,’ says Neil.

Prepare your property

The higher the initial presentation standard, the higher quality of tenant you are likely to attract. Ensure that you attend to any maintenance and repairs before prospective tenants view the property. ‘A fresh coat of paint, maybe new carpet or window coverings and a garden ‘spruce up’ can work wonders,’ says Neil.

Understand your target market

Determine who would be your ideal tenant by evaluating the area, existing residents and nearby amenities. If your property is close to parks and schools, you may want to focus on attracting families. You also want to ensure that any prospective tenants have a strong history of paying rent on time, stable employment and have not been evicted in the past.

‘A tidy façade will encourage people to want to check out the rest of the property. Furthermore, great presentation sets a precedent for how we expect a property to cared for during the tenancy and helps attract discerning, quality tenants,’

Engage a professional photographer

Don’t underestimate the power of good marketing. ‘Professional photos for marketing show the property off in the best possible light,’ says Neil. Quality tenants are more discriminating toward potential rental properties, so it is well worth investing in a professional photographer to produce the highest quality images that enhance your property’s best features to market your property to prospective tenants.

Set the rent

Be realistic about the rental value of your property. Your property manager should appraise the property, taking into account factors such as local demand, comparable rental properties and the current economic climate.

‘You need to be priced appropriately for the current market. Overpricing your property will limit your selection of quality tenants,’ says Neil.

If you need any further assistance or have any questions, please contact our Marshall White Property Management Team (03) 9822 8711.

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