Presenting Your Property

Just like a sales campaign, presenting your property in the right manner will enhance your marketing campaign for your rental. To attract the best tenant there are many things you can do for your property.

Professional Images

Having professional images taken of your property is a low cost way of promoting your property in the right light. They can highlight the features of your property and make it more attractive to prospective tenants. The photos should represent the way you would like it to be kept with a tenant inside. Put the dishes away off the sink, close the drawers, take the magnets off the fridge, all these little things you can do make a big difference in the way your property is perceived by others.



Before Presentation

After Presentation




     


            

Advertising

When writing an advertisement for your property, make sure you have noted all the features which would be attractive and important to potential tenants i.e. air conditioning,  gas/electric cooking, separate laundry, dishwasher, private yard, built in/walk in robes, car parking etc. Be honest in your advertising so people are well aware what to expect when they come through. Consider what would appeal to your target market and reflect that in the copy.

Ready for Inspection

When an open inspection or private appointment has been arranged, it is good to have the property looking at its best. This may mean simple things like putting dishes away; packing up toys, de-cluttering and making sure the whole property including yard areas are neat and tidy. Showing that the property is well looked after, shows prospective tenants you expect the same from them. Attend sales inspections for ideas on how to prepare the property.

Attracting the Preferred Tenants

The state and condition of your property will attract the most suitable tenants. The space, layout and location of your property may be suitable for a professional couple or family, but in actual fact may only attract students and sharers. If it be in need of a paint, replacement of carpet or update of kitchen or bathroom this can all affect who your property attracts. Keep this in mind when preparing your property for rental and remember be objective about your property others may not necessarily view it as you do.

Experienced Leasing Specialists can help guide and advise you through the rental process. Working together with a professional will guarantee the best results.

Selecting the right tenant is everything!

When looking for suitable tenants for your investment property it can be difficult to distinguish between the good and the not so good. Property managers deal with tenants on a daily basis and can therefore help select the right tenant to ensure secure income for your investment property and that it is well looked after.

First impressions are important so from the first moment of interaction with a prospective tenant whether by a phone call, email or an open inspection, observations are made about the type of character they present.

The application process can be extensive and is designed to draw out the true character of the applicant. Reference checks should be conducted to confirm not only their financial stability and rental history, but references of their character. This way you’re able to judge whether they have accurately portrayed themselves.

Look for details and key points that describe what is believed to make a responsible tenant. It can be a vulnerable experience to lease a property out, so it is important to ensure the ground work is done to narrow down ideal prospective tenants.

Some people chose to seek the help and guidance from a property management division to help them through this. The reason some people do this is because property management teams have vast experience with all types of people and personalities. Property management is focused around people, the amount of time spent dealing with individuals regularly gives a good sense of judgment and understanding of what landlords seek in a tenant and which would best fit the property. The close relationship between property management teams allows an enhanced ability to know what would make a good tenant with a range of experience and skills. Licensed real estate agents also have access to TICA - a national tenant database to catch up with any misdemeanours.  They also have an intimate knowledge of the Residential Tenancies Tribunal and its application.

Remember that whether you manage your property yourself or whether you chose to hire an agent, ultimately you, the landlord are responsible for picking the tenant which you believe will fit your investment property.

RP Data report March 2012

This week RP Data released their March 2012 report, which surfaced some interesting statistics relating to the local rental market. Here are a few excerpts from the report:

• Gross rental yields March 2012:  4.2% (houses) / 4.8% (units)
  
• Rental growth is now occurring across a number of cities and product types.

• Since March 2011, the annual change in rent for houses has increased by 0.7% ($2), while for units this change over the same time frame has decreased by -2.8% (-$9).

• However, since March 2007, rents  have substantially increased, with houses by 2.4% ($40) and units 3.5% ($50) over the five year period.

• Rental values remain low across most capitals, which is likely to result in further upward pressure on rental rates.

For those of you who want to get your hands dirty and get in amongst all the facts and figures, see the full detailed report attached here. There’s some great information there about sales too, so for those investors who may be looking at expanding your portfolio, it’s a great research starting point.
 

Welcome to South Australia’s first Landlord News blog...

Commencing in March 2012, this blog will be dedicated to bringing you – the Landlord - valuable, informative and timely information about the South Australian rental market.

This service is not only offered to Toop&Toop clients, it’s freely available to everyone as a high level two-way communication resource where you can ask questions, make comments and participate in conversation on everything property management.

“Kerrie Akkermans, General Manager of  Toop&Toop Property Management, will be reporting on the latest hot topics and issues that you as a Landlord should be aware of. This blog will be the ‘go to’ resource for all things property management in South Australia.”

So welcome to our newest space – we look forward to sharing our knowledge with you, and in turn receiving invaluable input and feedback from you all. Enjoy!