As we head towards the busy Easter period, the rental property market also tends to slow down. Prospective tenants may decide to put their house hunting on hold as families are away during the school holidays and new job opportunities won’t commence until after the Easter break. If your rental property becomes vacant during this time, it may take a little longer than usual to fill it with a quality tenant. But don’t worry, below are 5 ways to speed up the process to ensure your property isn’t left vacant for long!
With over 90% of prospective tenants looking for their next rental online, it’s imperative that your home stands out from the crowd. Professional photography is a must. A photographer uses lighting and staging to enhance the property, making it feel bright and spacious which is more appealing to prospective tenants. Advertising the property on major online listing websites is also important to ensure you reach as many buyers as possible. The two biggest listing websites in Australia include www.realestate.com.au and www.domain.com.au. A mix of professional photography and advertising on major listing websites are the essential ingredients for marketing your rental property in a digital world.
A well-presented property will not only assist you in finding a tenant sooner, it may also result in a higher quality tenant. A home in disrepair is not only unappealing to tenants, but it may scare them off committing to a lease with so many things glaringly wrong with the home. It’s the little things such as mulching the garden, mending fly screens and fixing broken lights that go a long way in attracting quality tenants who will look after the home. It also provides the tenant with peace of mind knowing they can move in immediately without having to stress about getting things fixed.
When a property becomes vacant, this is the best time to get on top of those odd jobs around the house or consider adding upgrades. Not only will upgrades result in a higher weekly return, but in the long term, this will also result in less inconvenience and expense to both you and the tenant with fewer maintenance issues arising. Use a vacant period to replace that faulty oven, lay fresh carpet or install air-conditioning.
4. A proactive leasing team
Engaging a property manager who is proactive in their approach will reduce vacancy times. A good property manager will:
- Advertise in advance and let suitable applicants know about your upcoming rental property availability.
- Ensure the current tenants vacate the premises in accordance with their lease and rectify any issues that arise as a result of the move as quickly as possible.
- Answer enquiries in a quick and professional manner and book inspections.
A professionally managed property can make the world of difference to the successful placement of tenants within your investment property. Failing to follow up on enquiries and not showing up to an open for inspection is very off-putting to prospective tenants, and in a competitive market, they will choose an alternative property.
If the above tips haven’t resulted in placing a tenant into your investment property, consider offering an incentive! Offering an incentive or bonus works well in low demand, high supply areas as this will give your property a point of difference – who doesn’t like something for free?! Options include a week’s free rent, movie tickets, vouchers etc. Entice prospective tenants with a little sweetener so they select your property over others.
At Jean Brown Properties we pride ourselves on our low vacancy rate and professional property management services. Call 07 5630 1146 now to speak to our specialised leasing team.
DISCLAIMER: Whilst every care is taken in the preparation of the information contained within the above writing, Write My Ad will not be held liable for any errors in typing, errors, content or information. All interested parties should rely upon their own enquiries in order to determine whether this information is in fact accurate.