Affinity Property has helped thousands of clients buy, sell and manage their investment properties over the past 15 years.
Below you will find our 7 Essential Tips for Renting Your Property Fast & Stress Free.
When you rent out your property, you are competing with thousands of other landlords to attract the eyes, ears and attention of potential tenants. Some suburbs have higher vacancy rates and many more rental properties than neighbouring suburbs.
So the big question is: “How do you stand out?”
Over 95% of properties leased in Australia today receive rental applications on-line. Consequently, you must have attention-grabbing digital photos of your rental property in order to attract interested parties.
Before a property is advertised for rent, it is important to ensure you get plenty of high quality internal and external photos preferably by a professional, but only when the property is looking its very best. Having professional photos of your property not only encourages people to look longer at your property, but can boost your asking price. Key things to consider before arranging your photo shoot include:
Photography is an art and so is marketing your rental property. It is best to hire someone to take your photos, as they know what to avoid and also which photos will attract renters. Your photos should convey that you care about the presentation of your property.
For assistance with this step, CLICK HERE to arrange a FREE inspection of your property for advice and tips on presenting your property to the market.
A modern kitchen with stainless steel appliances is favourable to rental applicants. Air conditioners and dishwashers are also now considered an everyday essential household item. Including these in your rental property will not only increase the rental return but will provide you with a wider range of tenants while meeting market requirements.
There are some brilliant products that will help you transform the visual look and appeal of your appliances. For example, stainless steel contact paper can be used to cover dishwashers, fridges, bench tops and a range of appliances to give your kitchen a huge lift. With less than $70 you can update old appliances to look fantastic! Check out Amazon where you can order on-line.
One way to attract and keep tenants is to ensure you attend to any repairs as soon as they are reported. Maintaining your property will make it more attractive to current and prospective residents. Attend to maintenance as the need arises, rather than have one larger outlay. This will also safeguard your property’s long-term capital value.
To prepare your maintenance checklist, conduct your own mini walk-through inspection. Make note of all the items that need repair or improvement. If your property hasn’t had any major maintenance for some time, you may need to address some or all of the following:
Small refurbishments and updates can be a profitable way to increase your rental yield and long-term tenant prospects. It is important to avoid over-capitalising, so concentrate on simple improvements and renovations.
Improving the visual appeal of a property increases demand which in turn translates into shorter vacancy periods.
Property features that are important to more than 90% of rental applicants include:
The street appeal of your property is very important. Maximising the number of rental applicants that are enticed through the front door is the first step towards ensuring you achieve the best possible rent. Some of the best steps you can take to improve street appeal for your rental property include:
A residential tenancy agreement (also known as a lease) is a contract between a landlord and a tenant. There are many terms that can be negotiated in a lease including:
The best tenancy agreements generally happen when the landlord and tenant are reasonable and negotiate in good faith. Many tenants want longer term rental agreements where they have certainty of tenure and peace of mind. Moving house can be very disruptive for kids schooling, ease of access to work and general daily living. Most landlords want tenants who care for their properties, pay the rent on time and are respectful to neighbours. The majority of landlords want fair market rent and have rent increases based on market conditions. Given most landlords are paying off property loans, maximising net rental income is important to them.
For example, when you consider the fact that around 63% of Australian households own a pet of some kind, you can see how advertising ‘no pets’ will significantly reduce the number of applicants. Allowing pets with responsible tenants may result in a longer term tenancy with fixed rental increases. This gives peace of mind to both the tenant and the landlord.
To ensure your property is protected if you do allow pets, you can have the tenants sign a “Pet Agreement” whereby the tenant takes all responsibility for their pets. The correct Landlord Protection Insurance is also important when it comes to approving pets
We also understand you want the best possible rent and your property is leased in the fastest possible time and you expect:
Affinity Property pride ourselves on renting properties quickly for our landlords and we provide a Service Guarantee to our clients. We have very low days on market for rental properties and work extremely hard to maximise rental income for each landlord/client.
Our industry-leading digital marketing generates a lot of tenant demand through social media, direct marketing and traditional real estate web-portals. A great property manager will advertise your rental property over a broad range of advertising platforms to ensure the highest demand for your property.
Contact us today on (07) 3293 9100 to request a property management consultation regarding your property.