Finding the right renter is no easy task. As you hand the keys to one of your biggest assets over to a stranger, it’s important to make sure you gain maximum return with minimal damage to your investment.
At Bekdon Richards we care for your rental property and ensure stringent
checkpoints are in place to end up with only the best applicants. We respect your
property and its potential, and so any bad references, questionable applications or
sketchy histories simply don’t make the cut.
Finding the perfect renter can save you 12 months of agony and keeping them on
board can give you years of peace. We run through a few ways to find and keep
those ideal residents that work in tandem with the role of a property manager.
Location, Location, Location
In the rental market, there are certain factors that will ensure your property fares
better with quality renter applications.
Location is the first, and most important, point. When looking at purchasing your
rental property, a focus on location doesn’t necessarily mean choosing the most
expensive suburb. Look at the growth areas with easy access to schools, shops and
services. This offers in the long run with the potential for increase in rent.
Pay Attention to Detail
When putting your property on the rental market, it’s failure to notice the little details
that will see multiple inspections result in zero applications. Between renters, ensure
the house is maintained, updated and features a neutral design to suit all
personalities. A few key factors in potential renters not applying for a property comes
down to; price, functionality and whether they could see themselves living there – a
bright red feature wall can deter favourable applicants.
If your renter can see you care about them and their requests, then they’ll care that
little bit more about you and your property. Listen to their needs within the
household, and while not every request needs to be met, if each is considered it
helps foster a respectful relationship between renter and landlord.
You will be notified of any formal requests from the renters and can work with your
property manager to ensure your renter is satisfied.
Maintenance is Key
Many landlords allow their homes to fall victim to neglect, with cracked ceilings,
mouldy bathrooms and faulty fittings signs of a home in need of maintenance. These
requests should be taken seriously from renters, as the best version of your property
will garner the best return for you in the long run.
A happy renter is likely to stay in the property longer, and when it comes time to
increase rent payments, there is less likelihood for this to be challenged.
Give a personal touch
With a property manager in place, contact between the landlords and renters is
virtually non-existent. To show your appreciation for good renters and to add a
personal touch, send a Christmas card or a general thank you gift to surprise your
renters. It’s a simple act of kindness, which will hopefully be returned in how your
renters continue to value your household.