6 tips to rent your property out fast
There is nothing worse than having your investment property vacant for an extended period of time. For that matter even one week without a tenant is a week too much, especially if you have a mortgage against it. I am sure that you would have seen properties rented out within the first week it comes on the market. So what should you do as a Property Owner to get your property rented out fast?
In this article, I will provide property owners with 6 important tips to help.
1. Appoint a good Property Manager
The first and most important step is to get yourself a good property manager who knows the suburb that your property is located. In addition, the property manager should be able to treat your property as if it was the only property that they manage. When selecting a property manager, look out for honesty, professionalism and responsiveness. Timely and effective communication is the key in any relationship and this is certainly no different in property management.
2. Repairs & Maintenance
Make sure that you attend to all the maintenance issues which have come to your attention. If you are handy with DIY jobs it would be great. However, make sure that you get the appropriate licenced tradies for plumbing, gas and electrical jobs. While it may be tempting to avoid additional expenditure, it is better to fix issues before they become bigger and more expensive to fix in the future. If there are items of a hazardous nature to be fixed eg exposed wiring, loose steps or railing get them attended to straight away.
3. Outdoor spaces
Make sure the yard is spruce and tidy. There is nothing worse for a tenant than seeing an untidy garden and giving them the impression that it would be too much work. Outdoor spaces are every much as important as indoor living areas.
4. Empty & Clean
Once the property is empty – and I mean really empty of everything – make sure that it is cleaned to a professional standard. There are very good professional house cleaners out there that clean properties to a “bond standard”. Do not spare this expense. Properties that are clean and neat rent out extremely fast. In addition your property manager would be able to enforce the same standard throughout the tenancy and when it is vacated.
5. Presentation and Photography
At the end of the day, it is all about how the property is presented. In this day and age, tenants look for properties firstly on the internet and then they come for an inspection to confirm what they have seen and read. Therefore, it is extremely important that your property manager uses a professional photographer rather than just a smartphone. There is nothing worse than displaying a property with sub- par images. If a few furniture items could be added for the photo shoot it would be an added bonus. Not too must though as we want to emphasise spaciousness.
Make sure that your property management agency provides Premier Marketing on the major rental portals. This is to ensure that your property gets a top spot on the first page for the suburb.
If Property Owners follow these basic guidelines it will certainly go a long way in renting out their investment property out fast!