One of the lessons you learn early in Perth property management, or elsewhere, is that good tenants are hard to find and worth making an effort to keep. It is our job to work with landlords and help them provide a rental experience that will make good tenants want to stay around longer.
Why is it Important?
The rental market ebbs and flows. There is a yearly cycle and a larger cycle that is closely related to the housing market. When the cycle is in an “up” period, it is easy to keep tenants. But when the rental market becomes “down” or “soft,” as it is now it is extremely important to have a property and management that is renter-friendly.
The bottom line: to truly maximise an investment property, especially in a soft market, it is important to keep vacancy time to a minimum. The best way to do this is to attract quality tenants and get them to stay as long as possible.
How to Attract and Keep Good Tenants
The most important thing you will ever do for your investment property is to hire a great property management firm. The second most important thing you will do is listen to what they tell you and follow their direction.
A great property management firm will keep your investment property filled with quality tenants. it is their job to find and screen tenants. Then, it is they who will collect rents and handle maintenance requests. They will also be responsible for asking the renter to renew their rental agreement, saving you the expense of vacancy and advertising your rental property.
If your property manager has built a solid relationship with your tenants and the property continues to meet their needs, there is no reason for them not to stay. We also have many great tenants insist on staying with us as their property manager and often move between our rental properties when they have to move.
Repairs and Maintenance
The biggest thing that can sour a relationship with your tenants is how this is handled. Repairs must be done promptly and with minimal disruption to the tenants. Nothing says “bad landlord” like taking forever for standard maintenance and crucial repairs. It is your responsibility to give your property management firm approval to do work when required so they can maintain the value of your asset and keep your home filled with good tenants.
To learn more about our award winning property management services, call Nicole Golding on 9472 16 06 today.
Read an article to: “Why Good Tenants are Worth Keeping“
