Whether your property is currently vacant or your current tenants have notified you that they’re moving out at the end of the lease, there are a few key factors that will help you attract great tenants to your property. The longer your property is vacant, the more it impacts your investment performance and finances, so use the tips below to make finding your next tenant a breeze.
- Get professional photos
We’ve all seen them online — the rental listing with poorly-lit photos that aren’t oriented correctly and often feature a person’s reflection behind their camera phone in a mirror or window. A professional photography session for your property will set you back around $150, and it’s worth every cent. By using a professional photographer, your photos will be well lit, edited and taken with wide angles to make your property stand out online and attract quality tenants. Plus, the photography costs are usually a tax deduction, and you can re-use the professional photos next time you need to list your property.
- Make sure the property is well-presented
Keeping your property well-presented, both in the listing photos and when the property is available for inspection, is a great way to attract quality tenants and applications from the first open home. Ideally, your property will be decluttered, clean and in good condition, with no visible signs of maintenance or repairs. If your property is currently tenanted, you could even send a professional cleaner and a bunch of flowers to the property to make sure your place is spick and span before the open home.
- List on high-traffic sites
Most people find their next home online using one of the popular real estate websites. For example, realestate.com.au has almost 20 million visits per month. It’s important you get your property in front of as many potential tenants as possible so that you can lease your property quickly. While your photos are in progress, work on the listing copy making sure the best features of your property, plus other important information such as local amenities and the feel of the neighbourhood, are detailed. If you have a property manager, they can help you write a compelling listing.
After buying the perfect investment property, finding a great tenant is key. Follow the steps above to make sure you’re giving yourself the best chance to attract great tenants quickly. While getting professional photography and a cleaner is an expense, these costs can have your property leased quickly and avoid long periods of vacancy, making it a worthwhile investment. And if you’re feeling unsure about the process, talk to your property manager as they know how to streamline things, provide valuable insights, and make sure you secure a great tenant quickly.
Remember, this article does not constitute financial or legal advice. Please consult your professional financial and legal advisors before making any decisions for yourself.