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Landlords, fear no more, finding great and *trustworthy* tenants is NOT as difficult as others (read: real estate agents) make it out to be.
Private landlords, you read that correctly, finding tenants is really quite simple!
… So let’s get the purple elephant out of the way
You’ve definitely heard the Landlord horror stories (they’re sensationalised on TV and in the newspapers) but remember, there are in fact millions of tenants, right now, in Australia, living in residences who are not destroying homes.
And remember, most landlords have not been to the Tribunal (which by the way, is really not that scary if you’ve followed all the processes correctly).
If you haven’t been following the correct procedures as a landlord, we’re going to help you start today!
So here are our 8 tips to finding great tenants you can trust.
1 – Exposure. Vacancies must be seen by Tenants
People need to know that your property is (or will be) vacant.
Where do tenants look?
Signs outside your home are great, but most homes we fill these days come from listings online. Tenants look while they’re at work, at home or out an about.
….. and 99% of our enquiries come from either Realeastate or Domain so make sure you are on BOTH of these portals
2 – Great photos. Sell the dream and the experience.
What do great real estate agents do so well? They create an attachment to a home. You NEED to have this place.
SO, here’s a tip: Your photos NEED to look appealing. They should make me want to put down my vegemite and cheesy toast and pick up the phone right away! Your photos should make me want to do a drive by at midnight and check out the location. Make me go to sleep at night thinking about moving into your home.
What am I really saying? If your photos look like they’ve been taken with a 1998 Nokia 3210 (old, grainy, pixelated, unprofessional) you’re less likely to sell the dream of living in that home!!
3 – Your listing title
Ok, so maybe your home isn’t a “Cremino” or a “Fat Elvis” (ice cream flavours from Gelato Messina), but what I’m saying is, use your imagination, have some fun and stand out from the other rentals online.
Instead of “3 Bedroom Apartment in Bondi”, write “On the Beach at Bondi” … It doesn’t have to be super descriptive, just different enough to grab people’s attention and get them to look at your photos.
4 – Ask the RIGHT questions!
Why did your tenant move out of their last rental? What did their past landlord have to say?
Can they afford the rent?
Do they smoke?
You cannot discriminate on sex, religion, marital status, race (and many more) but you can ensure that your tenants will be able to pay the rent, and that the property should be in the same state at the end of the lease as it is at the beginning.
EXTRA TIP: Handling Arrears – Be in Control!
Prevention is FAR better than cure, especially when it comes to handling arrears. Your tenants need to know you mean business, and won’t be a total walkover.
Set the tone of the relationship from Day ONE………… be friendly, but be professional…. and don’t take nonsense!