Have an effective marketing strategy to ensure you are attracting the right type of Tenant for your property. Use quality photography and good script, entice the tenant just as one would when selling a home. Make sure you put the features of the home ect
2. Asking Rent
Price your rental property appropriately, as overpriced properties may attract a high turnover of tenants and of course that leads to more wear and tear on the home. Instead do a comparison of prices in the area and have it competitive with the others on the market. A slightly reduced or at market level rent will generally keep a good quality long term tenant.
3. Open Homes
Make it easy for prospective Tenants to find out when the next open home will be. Two open homes twice weekly is ideal, have one after working hours and one on either Saturday or Sunday.
Always ensure that the prospective Tenant has fully completed and signed the application form, including a signed privacy consent to carry out the checks. When I was in property management, the most valuable person on the check was the previous landlord as the current may say anything to get a bad tenant out of their house!
5. Tenancy Start Date
Most Tenants will need to give their current landlord 21 days notice, but for the right Tenant this time is worth the wait. I would however ask the tenant if this notice period is flexible with their current landlord as in the case of a property selling, the owner would generally want an earlier vacancy to get the home ready for sale or if the home has sold, the new owner may want to move in asap.
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