Mythbuster: There is no ‘number one’ way to attract desirable tenants. But we know how.
If you own property in Birchgrove, Balmain or other Inner West suburbs, you might understand that tenants are attracted first by three qualities: the best-quality property in the best location with the best rent price.
Very few properties possess all three so it’s important to use other means to attract ideal tenants.
1. Take advantage of great photography
You may have a gem of a property, but with poor-quality photos, it could be passed over for an inferior yet professionally photographed home. And if your property doesn’t have a harbour view or district outlook, the interiors become more critical than ever in enticing potential renters.
A professional real estate photographer will highlight the best features of your home. You can then use the photos in listings and other marketing channels. With great images, potential renters won’t be able to resist falling in love with your property.
2. Practise open communication
In all relationships, open communication is key – even between landlords and their tenants. Give prospective tenants a hint of your superior communication skills in the way you respond to enquiries. Make sure you reply promptly and keep a warm yet professional tone in the way you communicate. When you engage a property manager, their good communication skills should be first on your list of requirements.
3. Ensure your property is well maintained
When you take care of your property and stay on top of maintenance and repair work, you’ll find it easier to rent it out any time of the year. Taking care of your property includes getting it refreshed between tenants. Splash on some new paint, replace the smoke detector battery, clean or replace floor coverings and make sure windows and blinds are sparkling clean. Your property manager can help you ensure that your rental property is maintained throughout a tenancy, and refreshed between tenants. And remember that timely maintenance saves you money in the long run.
4. Include modern amenities
What will desirable long-term renters pay more for? Any add-ons you include with your property show you care about the welfare, comfort and convenience of your new tenants. A dishwasher, washer and dryer and ceiling fans attract renters and make it easier for them to choose your property.
5. Get help from your property manager
Your property manager can help make your property stand out. We can outline a marketing strategy for advertising the property to attract a suitable tenant. With a seasoned property manager by your side, it’s easier to:
- Come up with a compelling property description
- Find a professional real estate photographer
- Find tradies to help you with repair work
- Find and vet suitable tenants
6. Ensure your property management team vets tenants efficiently
This last tip refers more to how you can ensure the tenants you choose are solvent. This is usually up to the property management team’s expertise in vetting tenants closely to ensure they have stable employment and are serious or keen to move to and stay in the area.
Happy tenants are good tenants
Want to know how to attract tenants in a tough market? It’s fairly easy: Keep them happy and ensure they have good, two-way communication with your property manager.
Tenants who stay longer can save you possible lost rent, as well as the costs of marketing your property whenever you have a vacancy. So if your property doesn’t have the #1 attributes, it’s to everyone’s advantage that you follow some of our tips to retain happy tenants.
Can we help with your Inner West rental property?
If you need help to rent your investment property, we have the experience and local knowledge to make your property journey easier.
Looking for help selling your home or renting your investment property? Our team at Belle Property Balmain support homeowners across Balmain, Balmain East, Birchgrove, Rozelle and Lilyfield. Feel free to get in touch for a no-obligation discussion or property appraisal.
