The right tenant

Is the perfect tenant out there? They might be! Even better, you might be one of the lucky ones to already have a caring, responsible and respectful person living in your property.

With record low vacancy rates, it is without doubt a challenging time for those seeking a rental property. Property managers often receive an influx of applicants during, if not prior to, property inspections. Finding the right tenant for your property is important and a good property manager will take great care and consideration to ensure the best candidates are put forward.

Finding the most suitable tenants starts well before the property is marketed. It’s likely you may have had a conversation with your property manager as to the type of tenant that would be most suited to the property. It comes about through conversations surrounding expectations of the property in terms of revenue, features of the property and surrounds, as well as tenancy lease duration; these details all form the basis of targeting the right tenants during the marketing of the property.

You may find that your investment property with a big backyard near a local school would capture the attention of young families, or that an apartment complex near a hospital might suit a professional couple. Considering this might help target the tenant pool, but your property manager will go further than that to find the right tenant for you.

The details on the application form provide the first introduction to potential tenants, as do first impressions. At their core, property managers are excellent communicators with an innate ability to work with others.

First impressions last, and it is at this point that your property manager will consider previous discussions and ensure main points and information is included on applications progressing. The number of applicants may vary considerably, from two to thirty, perhaps even more. Regardless of the volume of applicants, your property manager will ensure quality applications are considered.

A detailed tenant history is valuable and direct references provide important details as to how tenants will treat future properties well. A good property manager will seek clarification on gaps in applications and be proactive in ensuring reference checks and credit checks are completed.

All efforts are made to find the right tenant to ensure a long term, positive tenancy and your property manager will work hard to continue positive communication throughout the tenancy, addressing concerns and needs of both yourself, your tenants and the property itself.

SOURCE: RE/MAX Australia