What are tenants really looking for?
When buying an investment property think with your head, not necessarily your heart! A savvy investor will look for a property that is sought after by tenants and to keep tenants long term so the rental return is consistent.
When we are leasing property and interview tenants, these are some of the common factors that influence their decision on how long, how much and which property they choose:
- Location - Proximity to shops and public transport, train, bus or busways as well as connectivity with bikeways and parklands
- Parking – off-street parking or a garage.
- Storage – both internal and external.
- Good living spaces
- Ceiling fans/Air Conditioning – with Queensland’s’ summers heating up, a trusty ceiling fan is definitely the minimum and consider at least 1 x a/c in main bedroom or living.
- Safety –security screens on doors and windows, window locks, fences.
- Internet – good connectivity
On top of these things, tenants value a Property Manager who is contactable, approachable and able to resolve issues quickly! It is important to us that the relationships we build are positive between owners and tenants. This makes everything run more smoothly which in turn increases tenancy retention! Happy Tenant, Happy Owner, Happy Property Manager? Not sure that’s the saying but…
So, when you are thinking about your next investment property or perhaps looking to engage a Property Manager for your existing one, remember we can absolutely offer you an insight into the rental market and we can also give you advice on what tenants are looking for in their next home!