Rental properties across Australia are in plentiful supply and competition is fierce to secure a good tenant, so read on for the top 10 tips to give your landlord clients.
A number of recent property market reports have no doubt confirmed what you already know: there has been no rise in weekly rents over the past 12 months and vacancies are rising.
As a result, competition is increasing among landlords to secure good tenants – and many will be looking to their PM to help them out.
Here are 10 suggestions for any landlord to help make their property a tenant’s first choice:
- Maintain the property well. Insist on a professional clean for interiors and attend to repairs and maintenance as quickly as possible.
- Carry out repairs/renovations that will improve the tenant’s lifestyle – think air-conditioners (often top of the renter’s wish list), heating, dishwasher, washer/dryer, security (locks, gates, screens, intercoms, alarms), high-speed internet connection/wiring for cable TV, flyscreens, clothesline, and even solar panels.
- Give the home a mini makeover – paint, replace floorings if necessary and add storage or even appliances.
- Consider more major renovations – bright new kitchens and bathrooms might secure a tenant and a premium rent!
- Allow the tenants more freedom, like painting a feature wall or putting up pictures.
- Don’t forget to spruce up outdoor areas and green it up with some new plants.
- Keep your heart and mind open to all prospective tenants – pensioners and single parents often feel landlords find them an unattractive proposition, even if they’d be a great householder.
- Consider flexible lease times – a short-term lease might be better than nothing!
- Allow pets and make sure the property is pet-friendly.
- Be flexible if tenants are experiencing financial problems – and build yourself a protective buffer with good landlord insurance.
With these and other bright ideas, we wish you and your client’s property a lifetime of wonderful tenants!