Renting out a property can be very competitive, and you want to make sure you attract the right type of tenants.
Though marketing your property may fall under the responsibility of your property manager, you still need to communicate your expectations when it comes to getting the right tenants.
Doing so will help empower your property manager - they may be great at the admin behind managing your property but might not have the flair for marketing.
But whether you have a property manager or not, you need to be proactive when it comes to your property.
Landlords need to do everything they can to attract enquiries from the right type of tenants.
Here are our top tips to attract the best tenants…
The property description
When it comes to the property description, you need to find the balance between too much and too little information.
Not enough information may frustrate prospective tenants and look like you have something to hide.
You need to communicate the features and benefits of the property, and really sell the sizzle.
Put yourself in the tenant’s place and think about what you would want from a property.
Remember, you’re selling your property as a home, not temporary accommodation. Tenants are looking for comfort, convenience and stability.
Noteworthy features include things like air-conditioning, ceiling fans, a renovated property, pet-friendly, dishwasher, heating, pool, car accommodation and storage.
Some other key benefits are locality (distance to schools, shopping, transport, etc.), a fast broadband area, and easy access to major highways or central business districts.
When writing your description be clear and concise, highlight things that are important to tenants and play up the benefits they will receive by renting your property.
Your photos should compliment and enhance your description. They are the first thing the prospective tenant will look at and will draw them to your listing.
Be sure to clearly depict the features and benefits you have listed in your description.
People generally spend a lot of time in the kitchen and bathroom. It’s a good idea to include photos of these areas – particularly if they are large or recently renovated.
Presentation and inspections
If you’ve successfully attracted interest with your listing, the final part of the marketing process is the inspection.
At the inspection, good presentation is an absolute must and is the most influential factor for tenants in making their decision. Good presentation will make for a good inspection.
But there needs to be congruency between the description, the photos on your listing and what tenants see when they arrive for the inspection.
Of course your property needs to be spotless inside and out, but you should also think about the small cosmetic enhancements you can make.
If you have the luxury of the property being an empty prior to inspection, you can do a bit more to ensure it’s as presentable as possible.
A fresh coat of paint will go a long way to making a place look new and clean, and a neat garden and mowed lawn are essential.
Also, make sure you fix anything that is broken as tenants will be on the lookout for things like this.
It can be a little trickier if your property is currently tenanted so it’s a good idea to get the co-operation of the tenants.
Give them notice as early as possible of any maintenance appointments and upcoming inspections.
In essence, you need to make your property as attractive as possible – both physically and when representing it in your listing.
A little effort will go a long way to attracting the right type of tenants and will make your job as landlord much easier in the long-term.
The amount your property attracts in rental income, as well as its presentation, reflects the value of your property. Following the above tips will not only assist in securing good long-term tenants but will also underpin the overall value of your property as well.