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Tips for a successful Tenancy

By Juliana Morris

We know the value of a good tenancy.

Having the right tenant in your property can make a huge difference to your investment.

We understand how important your property investment is and we make it our goal to identify what this means for you and we will help you find the right tenant who will make your property their home.

  • Taking your property to market. Our key objective is to get as many quality applications as possible and in doing this create the maximum amount of competition for your property.  This ensures you receive the best possible return on your investment for that moment in time.

We put a strong focus on securing the highest quality tenants for our landlords through the use of proven marketing techniques and rigorous tenant selection procedures.  This includes promoting your property through the following marketing channels:

Digital advertising

Advertising your property online allows us to reach potential tenants on a 24/7 basis.  Furthermore, if a current tenant gives notice to vacate we are able to display your property almost immediately, maximising exposure to the market and minimising vacancy periods for our landlords.

Your rental advert is promoted through the following sites:

Realestate.com.au

Domain.com.au

Raywhite.com

Raywhitephillipisland.com

Homehound.com

Homesales.com.au

Inspectrealestate.com.au

Through Ray White’s exclusive ‘My Desktop’ system, we can simultaneously load your advert onto a minimum of 7 different online portals the advert is viewable online within approximately two hours of being loaded.  This gives us a distinct timing advantage.  With some of our competitors this process can often take a minimum of 12-24 hours.

Rental listing brochure

Most offices still use a weekly ‘For Rent’ brochure with great success.  This includes photos and information of properties currently available and is displayed prominently in the office for prospective tenants.

Tenant databases

We ensure the details of any high-quality applicants are kept and added to a prospective tenant database so when a new property becomes available a tenant and property can be matched immediately.  By having access to a prospective tenant database, we ensure consistently tenanted properties and vacancy periods that are kept to a minimum.

Power of the network

The size of our national network and our reputation in the marketplace means we receive a large number of walk-in-enquiries to our various locations.  Prospective tenants can easily speak with a Property Manager in person, who can suggest a suitable rental property.  For our landlords, this means a greater reach of prospective tenants branching out much further than just one individual office.

  • Getting your property ready to lease

We know first impressions count.  Properties need to be presented in the best possible light in order for us to help investors secure the best quality tenant and give you the maximum rental return.  A well-presented property is likely to attract tenants who are house-proud and will keep the investment in good condition.  We provide you, our valued investor with advice and guidance to identify improvements that can help a property really stand out against others in the market and can go a long way in attracting tenants who will respect it like their own.

The Residential Tenancies Act requires that a property must be ‘clean, fit to live in and in good repair’.   This however can mean vastly different things to different people.  We hold our investors to high standards and recommend that properties be professionally cleaned before being presented to the marketplace, with the aim of achieving a greater outcome in the long run.

We ask investors take into account the following questions when considering leasing your investment property.

Does the property meet the expectations of the market?

Think about how your investment property compares to those currently available and how this aligns with your own price expectations.  Do the features and benefits of your property stack up against the competition and market for the area in which it’s placed?

Are all appliances, fittings, fixtures and chattels in good working order?

Possibly one of the greatest areas of surprise for new landlords is the amount of maintenance required during the initial stages of a tenancy, often due to a slack of experience and understanding of what’s required.  Any chattel provided with the property when rented must be in working order.

These can include, but are not limited to, such things as: oven, dishwasher, fridge, door handles, window handles, garage doors, taps, wardrobe doors, alarms, drainage, clothes lines, light-bulbs, keys, remotes – the list goes on.  Ensuring this is done prior to the start of a tenancy will not only save time but will assist in securing the right tenant in the shortest possible time, and of course this saves your money.

Are the grounds and gardens well maintained?

Unless otherwise stated, general lawn and garden maintenance is the tenant’s responsibilities, however ensuring these are well maintained for the initial viewing process sets the right expectations for the prospective tenant and will ensure that your initial inspection report and photos show how the grounds and gardens must be left at the end of the tenancy.

We assist our investors by providing advice and help you to engage reliable quality tradespeople to help pave the way for a smooth tenancy from day one.

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