There are many ways to ensure you attract great tenants, here is what we suggest:

Quality photography to attract serious interest in the property

No rental listing is complete without great pictures. They create a visual interest and allow your potential tenants to really picture their lives within the space. According to Wall Street Journal, listings with no images have about 2 seconds to capture the attention of potential tenants while those with one image have a full 20 seconds. Meaning if you have three images, that’s a whole minute to entice tenants!

Set an achievable asking price
There is no better way to be able to ask for a high and reasonable rental price than to market your property using the quality photos as mentioned previously. Using the recent leases in your area, your property manager will be able to guide you in what your property will be able to achieve.  One thing to always remember is, your property manager is working with you in estimating a high return price for your investment- if you feel that you can get more, don’t be afraid to ask them!

Market the property
By having a good marketing campaign, and informative information on the ad can make all the difference from getting tenants that will last 3 months, and ones that will last a lifetime! Market the property for who will suit the house, for example you wouldn’t want to lease a property to an older retired couple that sits in the middle of a busy city area known for bars, clubbing, and dancing now would you!

Always ensure that your property manager will utilise the correct and most efficient platforms to make sure that your investment property is broadcasted to it’s full potential.  To simply put, there is no use for effective photos and information if your property is not going to be seen.

Have a strong rental application process
Ensure that your property manager has a thorough and comprehensive application process for your future tenants to apply. You want to know their rental history, proof of income, how many occupants, proof of employment and references.

Once the applications have been assessed, the property manager will discuss with your new tenants the expectations throughout the duration of the tenancy. This will set a clear standard of what will/wont be tolerated.

If all of the above has been completed to a high standard than it will result in great tenants, and what we know about great tenants is that they make your life easier!

Tori Masten, Property Manager – PerryCooper, Property Management