What Tenants Look For In A Rental Property
It does not take Gold Coast’s best and more thorough property management team (Sutherlands Property Management, of Course) to conclude that securing a great tenant is the goal of every property investor, but how do you attract a great tenant? There are many things a prospective tenants looks for in a rental property and getting these aspects right when purchasing an investment property increases your chances of securing a great tenant fast! In This Article we explore the whimsical world of exactly what tenants are looking for.
Location Location Location!
Yes, location is a big deciding factor! Properties close to schools and shopping facilities like supermarkets, local stores and variety shops can be popular. Being close to the business centre can be attractive to a lot of tenants.
Being close to public transport routes or easy access to arterial roads is also desirable. Close to beaches, rivers and recreation parks, walking, jogging and bike trails can also prove popular.
Depending on the tenant you are wanting to attract, ensure the property has features that will benefit them. For a family, it could be an ensuite and an extra family room. An executive couple may require secure parking for 2 vehicles, open plan living and a small, low maintenance garden. Multi story units might attract students who may require a white goods and study areas.
Put yourself in the prospective tenant’s position and think what type of features would attract them to your property.
Heating and Cooling
Depending on the climate, it is crucial that the property will allow the prospective tenant to be comfortable all year round. Places that are hot in summer require quality air-conditioning and perhaps ceiling fans to all bedrooms. If it is a tropical climate refrigerated air-conditioning is a must! In cooler climates gas heating systems and reverse cycle air-conditioning work well for tenant comfort. Tenants want to be comfortable and will be attracted to a property that clearly displays these types of features. This will also secure your tenant for a longer period.
More and more emphasis is being placed on security by prospective tenants. Installing dead locks and window locks, ‘one way’ security doors, window roller shutters and depending on the area, window security grills all make a property more attractive to the right tenant. This may also be a requirement for them to adequately insure their personal possessions
Any property that has lots of storage space is attractive to most good tenants. Floor to ceiling built in and walk in robes, large walk in pantries, a large linen press, shelving in garages etc all prove attractive when prospective tenants are checking out your property. We all have lots of stuff so having places where it can be conveniently stored but easily retrievable helps make any property attractive.
At Sutherlands Property Management we are passionate about not only managing and maintaining the value of our clients investment properties, but also education.
Making the transition from owner occupier to landlord can be a daunting experience for the best of us. Our proactive system to make this transition involves working with the new landlord in preparing the property for rent, as well as educating them on their rights and responsibilities as a landlord, discussing our comprehensive pre listing process reason behind it.