Investing in a top tenant pays off
Attracting a top tenant and the best possible rent for your property is crucial at any time, but particularly for investors starting out.
That’s because the longer your property is vacant, and every dollar you’re not getting in rent, ends up coming out of your pocket each month.
Here are our tips for attracting a top tenant and premium rents.
A lick of paint goes a long way
Investing a little in a makeover at the start can pay off in the long run. Every dollar more you can get in rent will improve your balance sheet month after month.
A lick of paint, some modern fittings and appliances can all increase your chances of attracting a top tenant.
Stay on top of maintenance
Getting a reputation as a reliable landlord is another way to keep top tenants. Keeping on top of basic maintenance not only builds a strong relationship it’ll end up saving you money in the long run.
Trust it to a professional
It may seem like an economical option to manage the property yourself. But this can be false economy. Trust a professional property manager to attract a quality tenant quickly and keep them happy over the long term.
Attracting the best possible rent for your property is important, but be realistic. If your property is overpriced in the market, you risk longer vacancy periods and greater tenant turnover, which ends up costing you money.