6 Useful Tips on Finding the Right Tenants For Your Rental Property In Perth

It can be
problematic for property managers to find the right tenants for their clients
in Australia. Since Perth has the highest number of capital city vacancies in
the Country, there are many property rentals to choose from at their disposal,
but when you are an investor, attracting the perfect tenant can be a challenge.

However, with
these six strategies, the process of finding the right tenant can be helpful.

1.   
Choosing Your Tenants Carefully

In the renter’s
market, it is essential to follow a thorough screening process since quality
tenants are a chief factor in assisting a client in maximizing their long-term
investment returns. It is vital not to rush the process and do your research
thoroughly before deciding on the right tenant.

2.   
Keeping Superior Existing Tenants

In an
ever-growing market where tenants have a significant choice, and you’re faced
with strong opposition, re-negotiating the terms and conditions of your leases
is not something to be taken lightly, and its can be to your benefit to liaise
with the tenant to find the best equitable solution for both of you.

3.   
Setting the Right Asking Price

Prospective
tenants who are searching the property markets considerations such as the
property type, location, and proximity to amenities and services are
imperative. However, the rental price is the focal point. Therefore, property
managers Perth
must assist landlords with setting realistic rental
costs as well as understanding the market. Exuberant rental rates will not help
find quality tenants and ideally keep them long-term.

4.    Adjusting the Terms Of Your Lease

It might be
advantageous to alter the terms of your lease to attract tenants. Being more
bendable with conditions like notice periods and offering a longer contract are
verified strategies in landing the right tenants and keeping them in this
challenging market.

5.    Showcasing the Value Of Your Offering

With an overflowing market, your properties must be a cut above the rest. Presentation is a key factor and showcasing the full potential of your property can only be to your advantage. Not only must the property be visually attractive by keeping it neat and clean but doing some upgrading may convince tenants that they are getting good value for money, for example, offering a weekly gardening service or making the property pet-friendly can make all the difference.

6.   
Keeping Emotions At Bay

Many clients
have a strong sentimental attachment to the property and find it problematic to
adapt their expectation that’s why they find it easier to leave the management
of their properties in the experienced hands of property management
professionals. These companies have information about the latest market
statistics, have an objective view and are making use of proven tactics to
navigate the market for prospective tenants that are best suited according to
the terms and conditions of the landlord and their unique situation. By using
the right property manager, you can maximize your investment and have the
equanimity that your property is in capable hands with your best interests in
mind.

Adam Hansen
 

Adam is a part time journalist, entrepreneur, investor and father.