A good renter is hard to find: 7 ways to make your rental property stand out
It’s no secret that rental properties are in high demand in Melbourne right now. But that’s no reason to get complacent when it’s time to put your property on the market. Your relationship with your renter can make or break your experience as a rental provider. A good one means prompt rent and peace of mind. A bad one? Well, we’re sure you don’t need us to tell you what a headache THAT can be… That’s why it’s important to make your home as appealing as possible to the reliable renters out there. Read on to find out how.
1. Make sure you’ve got curb appeal
The outside of your property is the first thing people will see when they come to view it, so it’s important to ensure it’s looking its best.
Step outside and imagine you’re looking at it with fresh eyes.
Are those windows a little grimy? Could the front door use a lick of paint? Does the garden need a bit of TLC?
A clean walkway, inviting entrance and well-manicured green spaces all help to make a great first impression.
2. Stay on top of your repairs
There’s nothing like damp patches and scuffed skirting to put off potential renters.
Try to keep your property as well-maintained as you can.
Peeling floors, broken locks, leaky taps, mould in the bathroom – small problems like these can compound quickly. And they’ll make a far bigger dent in your savings if left to the end of the tenancy.
Stay on top of issues as they arise and it’ll be quicker and cheaper to get your property looking pristine come rental time.
Plus, the current occupants will thank you for it, and who doesn’t love a bit of good karma?
3. Less mess, no stress
It goes without saying that a clean, clutter-free space is going to be much more appealing to potential renters than one that’s full of crusty dishes.
If your property is vacant, consider investing in a professional clean to make sure it’s in tip-top shape for viewings.
If there are already people living in it, it’s a bit more tricky.
Of course, good renters should tidy up after themselves, but it’s not realistic to assume their home will always be spotless.
Give your renters plenty of notice before scheduling viewings and try to do multiple on the same day to lessen the impact on current occupants. If you’ve built up a good relationship, they should be willing to help ensure the property is in a presentable state.
4. Upgrade your appliances
Modern amenities count for a lot these days.
Or if not modern, certainly functioning (that clunky old washing machine or gas stove that doesn’t light probably won’t cut it).
A few slick new appliances can work wonders when it comes to drawing in new renters, and will give the whole space an instant refresh.
5. Up your energy efficiency game
Making your property more energy-efficient is a great way to broaden its appeal.
It’ll attract the eco-conscious (who want to limit their environmental impact) and the budget-conscious (who want to save money on their utility bills).
It will also increase the value of your property in the long run.
Win-win.
There are tons of energy-saving measures you can implement, from the big investments (think decent insulation, double-glazed windows, or installing an energy-efficient water heater) to the quick and inexpensive (think LED light bulbs, smart thermostats and energy-saving appliances).
6. It’s all in the marketing
Using a variety of marketing channels can help attract more renters, increasing your chances of finding the perfect fit.
Partnering with a trusted real estate agent (we might be able to help you there…) is a great way to start. With our network and marketing experience, we’ll help you reach the widest pool of renters possible.
Use professional photos to showcase your property in its best light and grab the attention of renters online.
7. Offer flexible terms to boost applications
If you’re looking to attract an even larger pool of renters, there are plenty of policies you can implement to increase your property’s appeal.
Including utilities like water, internet and electricity in the rent (or offering a flat-rate utility package) takes the hassle out of the rental process, and will be very attractive to those seeking convenience.
Offering customisable furnishing options – furnished, partially furnished or unfurnished – is guaranteed to up your number of applicants.
And there’s nothing like flexible lease terms to reel in the renters!
Short-term or month-to-month leases can attract students, seasonal workers and people whose lifestyle requires them to be more adaptable.