Finding the right tenant 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 tenant 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 tenant 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 tenants, ensure the house is maintained, updated and features a neutral design to suit all personalities. A few key factors in potential tenants 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 tenant 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 tenant and landlord.
You will be notified of any formal requests from the tenants, and can work with your property manager to ensure your tenant 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 tenants, as the best version of your property will garner the best return for you in the long run.
A happy tenant 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 tenants is virtually non-existent. To show your appreciation for good tenants and to add a personal touch, send a Christmas card or a general thank you gift to surprise your tenants. It’s a simple act of kindness, which will hopefully be returned in how your tenants continue to value your household.