Tips to find good tenants and keep them

An investment property can be a huge asset. As a landlord, in order to make the business as profitable and stress-free as possible, you want to attract high-quality tenants who will stay for the long term. However, it does not just about know what it takes to be a good tenant.

Of course, choosing an attractive investment property and excellent features will help your dream tenant rent the property. But you also need to market it properly.

What is a good tenant?

A good landlord will go to great lengths to find a qualified tenant for the house they rent. A good tenant makes a landlord's life easier because it removes the fear of strangers living in their investment property.

A good tenant has a range of different qualities. A good tenant ticks all the boxes, from paying rent on time and treating small things as if they were their own property, to bigger tasks like maintaining and keeping the property clean.

A tenant who looks after the house takes the pressure off the landlord and allows both tenants and landlords to spot any potential maintenance problems before the house becomes too big and expensive.

Good tenants respect the property in which they live. They communicate openly and honestly with the landlord to ensure the property is kept in good condition to make everyone happy.

What should be avoiding?

Just as there are things that tenants are willing to pay more for, there are also features that can lower the value of your property.

Gloomy houses are always a deterrent to tenants, as are dirty or poorly conditioned ones. A dark house is one with limited Windows, so there is little chance of natural light.

Remember, you're not the one who lives in the house, so even if you like dark or bright rooms; they can be a turn-off to other people. Keep it as natural as possible to appeal to the largest market.

What can I change?

A few quick changes, like a fresh coat of paint, new accessories like door handles, a new kitchen counter, and modern light switches, can make your home attractive to good tenants.

But if you want to make bigger changes, be careful not to overuse your property. When considering making more significant changes, it's important to talk to your property manager. They can suggest where you can add value, as well as the expected rental return after those improvements.

Rent your property

Finding good tenants to sign contracts can sometimes be a long, drawn-out process. However, taking small steps to ensure that your investment property is up to standard in terms of features and attractiveness, and getting help from the right agent, can find the right tenant for your property.

Get a free rental appraisal today for more tips on finding good tenants and keeping them.

‍