How to attract good tenants


 

How to attract good tenants.

4 great tips for rental success.

 
     

 

 

Your rental property is one of your most valuable assets – so it goes without saying that you want to secure a quality tenant.

Finding someone who looks after your investment property, pays their rent on time and lets you know about any maintenance issues before they become bigger problems takes a lot of the stress and hassle out of being a landlord.

 Attracting Good Tenants for rent

 

At McElwaine Estate Agents, we work hard to ensure that owning an investment property is simple and rewarding. Our property management team is here to help you to maximise your rental returns while growing the value of your rental. In our experience, there are a number of simple and low-cost things that landlords can do to attract quality tenants – and add value to their property in the long-term:

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Consider your target market
This sounds like a no-brainer – but have you genuinely considered the type of tenant that’s likely to be interested in your property? Renters have changing priorities at different ages and life stages – a property that may appeal to singles and professional couples could be completely unsuitable for a young family due to the floorplan or fixtures (for example, no bath). Likewise, proximity to good local schools will be a selling point for families, but less important to other groups. Ensure that you market and present your home in a way that will appeal to the audience you’re targeting.

 

Invest in advertising
Whether you’re selling or leasing a property, you only get one chance to make a positive first impression. Professional photos will help your rental to stand out in a competitive market, ensuring that potential tenants click on your online ad – and come to an inspection. Likewise, it’s worth considering paying for a premium listing that will keep your property at the top of the search results. These costs are fully tax deductible, and your photos can be used to market your home for many years into the future.

 

Repaint and replace floor coverings
Tenants moving in and out of your property will inevitably mean marks on your walls, skirting boards and doors, no matter how careful they are.A fresh coat of paint can do wonders if your walls are looking scuffed. If you’d prefer not to paint the entire property, focus on the entry and main living areas. New carpets are another effective way to freshen things up – look for hard-wearing and stain resistant carpet blends.

 

Consider upgrades and extras
While new carpets and fresh paint always make an impression, spending money on extras like a dishwasher or air conditioning and heating will help you to attract – and keep – quality tenants. Consider a split system for the living area and master bedroom, or turf the backyard so that your tenants don’t have to worry about mowing the lawn. If your rental has a large outdoor area, you could even include a gardening contract.

 

 

The property management team at McElwaine Estate Agents is experienced at working with our landlords to ensure their investment properties tick all the boxes for the type of tenants you’re looking to attract. We can advise on affordable improvements that will make your rental more attractive to potential tenants while increasing its overall value. These improvements will usually pay for themselves in no time by allowing you to achieve a higher weekly rent and reduced vacancy.

 

Contact us today for more information on how we can partner with you to maximise your returns and improve the value of your investment property. If you're looking for elite property management to rent out your invsestment, book a free rental appraisal to get started.

 

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McElwaine Estate Agents