News / 3 months ago
With up to 500mm of rain in southeast Queensland today.…
08 Mar 2017
Here’s a common scenario. Your tenants have given notice, they are moving in 4 weeks. Time frames to find tenants are extending, supply of properties are on the increase. As an investor an empty property is as useful as powdered water.
The search for good tenants is competitive. We wanted to outline some of the best strategies to ensure you find the best tenants in the shortest amount of time possible and secure a good rent return.
Advertising at too high a price is the single biggest reason for failing to secure a tenant. Incorrect pricing isn’t usually the result of a greedy landlord. More often the rental agency doesn’t have the awareness or insight into current market conditions which can change week to week, month to month.
Our agency rents more property in Brisbane’s inner south than anyone, in fact up to 8 times more than the average agency. We’re tracking enquiry and application levels daily and comparing properties to make sure we have everything spot on to attract the right number of tenants.
Prospective tenants will often apply for multiple properties at any one time to secure a home. Our FastApp processing system is designed to secure the best tenants first. Most agencies process applications in 2-3 business days. We aim to complete this in 4 business hours. How do we do it? Simple. We discuss your detailed tenancy requirements BEFORE we look for a tenant and establish a criteria. We ask tenants to provide more information when they apply rather than having to rely on third parties. When we have a match they’re approved, quickly.
Presentation standards and expectations have risen dramatically in the last 12 months. We’ve seen this trend earlier with the marketing of properties for sale.
Here are the essentials to maximising your advertising impact
Securing the right tenant can be the difference between a stress free investment portfolio and lots of problems. As you can see from the information above it’s not just blind luck that ensures a great result.
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