Different properties attract different tenants, and that can all come down to factors like:
- Rent price
- Age of the property
- The tenant’s occupation, and more.
Here are a few things that you can do to make sure that you’re attracting tenants that are right for your rental property.
Know what you’re looking for
If you’ve spent any amount of time as a landlord, you’ll have at least an idea of what you’re looking for in a tenant. It’s always a good idea to meet with prospective tenants and get to know them before you accept them. Doing this allows you to check that they meet your standards, and are willing to comply with rules around pets, smoking, etc.
Click here to see the questions that you should be asking your prospective tenants.
Advertise in the right places
You won’t get any prospective tenants if you don’t advertise your property. While you want to get word of your property out to as many prospective tenants as possible, it’s worth really thinking about where you’re going to advertise your property. You could advertise yourself through:
- Word of mouth, or placing flyers or advertisements on things like notice boards.
- Platforms like TradeMe, Homes.co.nz for better exposure.
- You might even post your listing in a relevant Facebook group. Try searching for rental groups in the area of your property, and post an ad there.
- Another option is to use the Proper Renting App. Using this deal, you can get a TradeMe listing, manage viewings through the app, and conduct background checks on prospective tenants. If you sign up to Proper you’ll also get access to several other features that make the renting process simple, such as a single messaging system to communicate with tenants and contractors for repairs.
Use quality advertisements
Once you know where you’re advertising, you need to make sure that your advertisements are good quality, and tell prospective tenants everything they need to know about the property and tenancy. Make a point of:
- Setting out the expected rent
- Setting out any rules that you expect tenants to follow (e.g. no pets, no smoking),
- and make it easy for prospective tenants to get in contact with you.
- Make sure that you also provide good quality photos of the property, ensuring you capture its best aspects.
Further reading: How-to-create-the-perfect-advertisement-for-your-rental-property
Having a high-quality property
When you’re looking for investment properties to buy (or even build), making sure that they’re high-quality is essential. Tenants are attracted to properties that:
- Are properly insulated.
- Have favourable features such as double glazing, good quality carpet, and modern fixtures.
Of course, this quality comes with a price. But if tenants can afford to live in a high-quality property, they’re likely going to make an effort to look after it.
Keep renovating and updating
Between tenancies, or even during longer tenancies if you have to, make sure that you’re regularly checking in on the property. If things are beginning to look old and tired, it could be worth replacing them. Things like carpet can have anywhere between a 5 – 15-year lifespan, and if they’re in need of replacing, it can make the property feel so much younger to get that done.
Properties that have clearly been taken care of and undertaken renovations are going to be much more appealing to tenants than a flat that has its original 1960s carpet. Tenants that want to rent in new and well-maintained properties likely know it will cost them more, and they’re going to be more inclined to look after it.
Once you’ve found them, hold onto them
If you’ve already got fantastic tenants in your property, make it worth their time to stay. The best way that you can do this is by keeping communication open, acting on maintenance requests quickly, giving plenty of warning for inspection times, and renovating and updating your property as needed. If you keep your tenants happy, they’re likely to stay for longer, meaning you won’t have to keep finding new tenants to keep your property full.
Attracting good tenants isn’t always easy since it isn’t always obvious what sort of tenant someone is until they’re already a tenant.
With Proper, you can:
- Remove the uncertainty and,
- Make the process of finding a good tenant so much easier.
This is because the app allows you to:
- See the profile of every prospective tenant, which gives you an overview of things like their credit score, and their past rent payment habits. This all but eliminates any nasty surprises down the line.
The Proper Marketplace also provides a great place to advertise your property. You’ll be connected to a huge range of prospective tenants, and Proper makes it super easy to:
- arrange viewings,
- sort paperwork,
- keep an eye on rent and
- organise inspections and maintenance.
Proper will help you be the best landlord you possibly can, and will save you time and money.