This is an important question. As a landlord, your financial objective is to attract high-quality tenants and to minimise extended vacancy periods.
Moreover, if your current renters are leaving and you are looking for new tenants, there are strategies that can maximise your chances of finding appropriate replacements.
Revisit your marketing strategy
Spring is a time when many tenants seek a change of scene, so it’s crucial the right people see your rental property.
Moreover, if your current property manager is only using traditional methods such as industry portals to find you a tenant, then talk to your local Raine & Horne Property Manager about our exclusive digital marketing platform, Amplify, which knows what tenants are looking for before they do.
Amplify is our unique social and search marketing tool that puts your vacant rental property in front of more renters than other property management firms can reach.
Spruce up the exterior of your investment property
With spring fast approaching, there has never been a better time to start getting the garden in order. The colder months are usually unkind to property exteriors, especially where there has been plenty of rain and high winds playing havoc with gardens and other outdoor spaces.
Most tenants, especially those with young families, will welcome a garden or yard, but not if the outdoor spaces are in a scruffy condition. So, if you are a landlord looking to attract new tenants, cull the weeds, mow the lawn and plant some fresh shrubbery. The aim is to help prospective tenants visualise happy times with the family playing or barbecuing in the garden.
Likewise, the front garden is the first aspect a property a tenant sees when they arrive for an open house – in a competitive market you can’t afford to turn-off a potential tenant before they walk through the front door.
Don’t ignore property maintenance
If you’re looking to attract a new bunch of tenants, giving your property a spring clean is essential – especially if the last renters were residence for a longer period of time.
If your rental property presents well, this sends a message to potential tenants that you take great pride in the house or apartment, and that you’ll respond in a timely manner to future maintenance or repair requests.
For a well-maintained rental property, the bare minimum is that all light bulbs, switches, and appliances function. The next step is to ensure walls and ceilings have a fresh coat of paint, and any issues with flooring are addressed. Tattered or threadbare carpets are a turn off for tenants.
Your Raine & Horne Property Manager can provide further advice about how to help presents your investment property in shipshape condition for prospective tenants this spring and organise specialists to help where required.