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Attracting your ideal tenant

By Claire Briggs

Owners of houses for rent are often looking for specific tenants. Whether you’re trying to appeal to students, professionals or families, there are steps you can take to make attracting your ideal tenants easier.

However, keep in mind that you can’t base your decision on who to rent to on things like race, religion or marital status. This could lead to a hearing with the Tenancy Tribunal or the Human Rights Commission.

Think about what your tenant might want

Different people will be looking for separate things in their homes.

For instance, say your rental property is more geared toward senior citizens. Chances are these individuals will be retired or close to retiring and are in search of a quieter neighbourhood, as well as lower living costs. Public transport and proximity to amenities like shops and medical care will also likely be important.

Meanwhile, a family with children will probably be on the lookout for different things. Proximity to schools will likely be at the top of the list, as will areas for children to play.

Once you know what your tenant will be looking for, you can work on making your real estate more in line with their ideal home.

While some issues such as proximity to transport can’t be helped, by thinking about what your tenant will be looking for, you can decide which features to focus on and advertise in your search.

Think about where your tenant might look

Once you know what to advertise, it’s time to decide where.

If you’re on the hunt for tenants for a property more suited toward younger people, putting up ads at the local university or around popular shops and eateries is a good idea.

Meanwhile, a single mother may be more likely to see your advertisement at the local supermarket or daycare centre.

It’s smart to reach as many people as possible, which is why putting your ad online is a must. However, try to think of specific areas that might appeal to your ideal tenant.

Think about whether your tenant is worth it

Finding the type of tenant you set out to obtain is great, but that doesn’t always mean they’re the right people to move in.

At the end of the day, what matters most is having a stable, respectful tenant who pays rent on time and takes good care of your investment.

Sometimes this may mean opting for someone you didn’t originally have in mind.

Our property managers here at Ray White Uxcel have strict guidelines in place when it comes to selecting tenants for our rental properties. For information on how we can manage your property investment, contact our office today, on (08) 9275 7777.

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