Top 6 Things that Tenants are Looking for
Like everyone, tenants want comfort, convenience and amenity. Of course, this will mean different things to different people but if you have a property that offers the following features, tenant interest and satisfaction will be maximized. This will mean increased rental returns and reduced vacancy.
- Air Conditioning
- Built in Robes
- Maintained Kitchen and Bathroom
- Outdoor Living
- Fenced Yard
Does allowing pets increase rental potential?
Owners are often wary of allowing tenants to keep pets, and rightly so. Pets can potentially cause damage and nuisance. However, if you can offer a property that is pet friendly, this can present an opportunity to gain an increased rental and tenant stability. The RTA is reminding tenants they must get written permission to have a pet in their rental home and tenants are responsible for any damage to the property caused by their pets.
Don't Get Emotional
Remember that your investment in property is a business. You need to charge the best market rental, received timely payment and be prepared to evict any tenant that does not meet the conditions of their lease. This is where a good property manager is essential. They can ensure that the tenant is treated in a professional, lawful and respectful manner and that the overall experience is stress free for you.
We treasure our great tenants.
Good quality tenants who respect your property and pay their rent on time are an incredibly important factor in the success of your property investment. This means keeping the lines of communication open, responding promptly to their needs and just showing, in simple ways, that they are appreciated.
Keep on top of Repairs and Maintenance
All properties will require repairs and maintenance from time to time and if you want to keep good tenants, it’s important to ensure they are carried out as soon as possible. If you have decided to handle the repairs and maintenance yourself make sure that you have tradesmen available who can react to urgent repairs. Don’t forget that these can occur anytime. (And usually the worst possible time.) For non-urgent repairs, you should obtain 2 or 3 quotes and insist on a timeframe commitment from each provider, both for a commencement and completion date.