One of the most important roles of property managers is to precisely select good renters. The selection of a good renter will ensure your property is well maintained during each tenancy to retain the property’s value. Good renters look after your property which minimises costly repairs and maintenance. They will also regularly pay their rent on time to provide you with a regular income stream.
Many property owners may consider managing their property themselves, however unnecessary hassles can be avoided by partnering with a property management specialist who have the right processes in place to find the best renters regularly.
So, what are the key factors when searching for the best renters for your property?
Evidence suggests that most property managers don’t even complete reference checks on prospective renters due to inexperience, laziness or lack of care for your needs as a property investor. These types of property managers are quickly found out, so ask your property manager to provide a list of references which they have processed each application. This is an essential part of finding reliable tenants and giving you peace of mind.
At a minimum, your property manager should confirm the employment status and rental history of each applicant. A good property manager will ask each reference detailed and relevant questions to determine the suitability of the applicant being a quality renter for your property.
Our property managers spend the time required when processing each application to ensure only quality applications are presented for your consideration.
A well-presented property will attract greater interest, so consider if there are any improvements which need to be made before listing your property for lease. Before each inspection, your property manager will ensure the property is clean and presentable.
The property with working appliances, updated fixtures and fittings will allow you to lease your property for a higher rent. Before making any changes to the property, you should consult with your property manager, as they will be able to determine if the update is worth the investment.
A professional marketing campaign will maximise the exposure of your property and therefore increase the likelihood of attracting quality applicants. Professional marketing can also be the difference between in attracting interest over another competing properties.
A professional marketing campaign will include several photos, an accurate description of the property and signage. With the technology available now, it is almost essential that all rental listings include a walk-through video or a 3D tour. A simple video walk-through gives renters greater confidence in the layout of your property, which will help generate stronger interest.
This type of marketing is generally cost effective and makes the small investment very worthwhile. The marketing can also be reused for future listings. These marketing tools combined with the presentation skills of your property manager at open homes, will improve your property’s appeal to potential applicants.
