Depending on what area of Australia you’re working in, you might have a line out the door of potential tenants. The closer you get to a big city, the higher the demand for a great place to live. The only problem is that not everyone looking for a property to rent is a great fit for the property you’re renting. Securing long-term tenants is better for your time and your money, and you might have to re-evaluate how you approach the process in order to find those tenants.
- Start with a Great Listing
A quick little blurb that doesn’t contain a lot of information leaves things pretty open. If you take a look around Gumtree, it’s easy to put yourself in the situation of someone who is looking to rent a home. Think about what aspects of the other listings would persuade you, and incorporate those elements into your own listing. Of course, it never hurts to specifically mention that you’re looking for long-term tenants.
- Be Willing to Listen
You might have already drawn up specific rules regarding the policies you want to incorporate in your lease. Some of these might be worth bending for the right tenant. Say you have a no-pets policy, but you’re located near a great school. A family with a young child and a well behaved dog wants to rent from you so when their child is old enough to attend school, he or she will have access to the one nearby. You know these tenants are planning to stay for a while, so hear them out about their beloved furry friend.
- Provide Some Freedom
People have a tendency to move when they feel that their current living situation is far removed from how their lifestyles and tastes have evolved. Don’t lock your tenants in when they want a little more freedom. Let them paint. Be open to repairs or renovations that will not only improve the value of your property, but keep your tenants happy. Freshening the place up a little bit will benefit everyone.
- Stay On Top of Things
Unresponsive landlords drive away tenants rapidly. Things break, ceilings leak, and your tenants need your help. If they have to wait too long to get things taken care of, they aren’t going to want to deal with it. It’s not their fault – they want to live in a perfectly functioning home the same way that you do. Always rapidly respond when your tenants need assistance.
- Equip the Property Well
Everyone knows that homes become outdated, but they’re now becoming outdated in ways that were never a concern before. Smart home technology is gaining popularity. People like the convenience of being able to use tech in their everyday lives. This means smart appliances and things like lighting systems that can be controlled through a smartphone. Consider equipping your property with some of these gadgets to keep its functionality moving towards the future.
- Go Above and Beyond
Even the best tenants will make small mistakes once a while. A simple miscommunication between members of the household can lead to the rent being a few days late. A relative visiting from out of town and staying for two weeks may not have been intended to undermine an unlisted tenant clause. Go above and beyond to accommodate tenants who are far more valuable than troublesome.
Great landlords are always willing to be flexible for great tenants, and in the end, that’s what can make the difference between a 6 year lease and a 2 year lease. There’s nothing wrong with defying convention if you’re doing so in order to create a beneficial situation.