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How to Attract Quality Tenants

April 4th, 2014.

Every Landlord wants the best quality Tenant, but quality Tenants also want the best rental properties.  So how do we make your investment property attractive to these good Tenants? A well presented property that is priced appropriately and is located in an area of good demand will always ensure that you get the very best quality Tenants.

A well presented and maintained property will actually save you money in the long run, as it will attract better Tenants who will stay longer and who will be happy to pay market rent throughout the term of the Tenancy.
 
 
Before you start marketing your vacant property make sure you go through your property and see what needs attending to. Professionally cleaned carpets, fresh paint, a thoroughly cleaned property with no outstanding repairs and a good tidy of the gardens will ensure that your property will attract the type of quality Tenant that you are looking for. Click here if you would like to receive some free advice on presenting your rental property at it’s best.

Marketing your property correctly is paramount.  Your rental property should be advertised in several mediums for example Trade Me, print advertising, your Property Managements company’s website, a For Rent sign outside the property and many more.  The greater the exposure, the greater the choice you will have.

Professional photos and video can make the world of difference. Click here to check out how we market our available properties. You would be amazed at how often we see photos of available properties that do nothing to promote it.   Quality photographs can often be the very difference between renting your property or it remaining vacant.

Don’t be complacent, if your property has been advertised for more than several weeks and is still available, take action. Understand what factors may be impacting on its desirability and do something about it. Take the opportunity to take fresh photographs and put up a new listing on Trade Me, you will often find that once a property has been listed for more than several weeks’ potential Tenants won’t even consider renting it as they think that there is something wrong with it. Is your property overpriced when compared to other current available properties? Are their properties offering more for less? If so adjust your price accordingly and do it now! Every week your property sits vacant will cost you more than a small reduction in the rent.

Lastly, investigate the current demand; are there a lot of similar properties currently for rent in the area? How long have they been listed for?  Sometimes the rental market is outside of our control and if there is currently a lot of available stock in your particular area then it is more important than ever to ensure that your property is presented at its best.

A poorly presented, over priced property is only going to attract one type of Tenant and it’s not the Tenant that you want! This Tenant will cost you money in lower than market rent, vacancy, rent arrears and damage.

Contact us today if you would like advice on what improvements can be made to get your property renting at its best.
 

1 Comments

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