How to source good tenants for your Mount Isa rental property
If you own a Mt Isa rental property, or you’re thinking of buying one, then it’s essential to get the best tenants that you can. When you do, it will save you a lot of hassle and maximise your investment return. Read on to find out how you can do it for your Mount Isa rental property.
Tip 1. Presentation, presentation, presentation
You’ve probably heard the old cliché that ‘the 3 most important features of real estate are location, location and location’.
But when it comes to Mt Isa rental properties and attracting the best tenants in our competitive market, you could argue that the 3 most important features are presentation, presentation and presentation.
The high-quality presentation of a Mount Isa rental property plays a major role in attracting good tenants. Tenants want to live in the best place they can afford.
Our experienced local property management team at Jays offers Mount Isa landlords valuable advice on cost-effective upgrades that will enhance a rental property’s appeal to tenants and therefore the potential rental yield.
This advice might include recommendations for minor renovations or landscaping. These improvements can significantly boost both a Mt Isa investment property’s market value and rental price, leading to higher rental yields.
Tip 2. Market it locally, far and wide
Effective marketing both locally in Mount Isa as well as far and wide is vital for attracting the right tenants. The strategic marketing done by our Jays property management team can ensure that your Mt Isa rental property is seen by as many potential tenants as soon as possible.
Tip 3. Do a thorough tenant screening check
Our screening processes at Jays include thorough background, credit and reference checks to identify good tenants who have a track record of looking after their rental properties like it’s their own and always paying their rent on time.
Tip 4. Have a good tenant retention strategy
Sourcing good tenants is only half the job when it comes to avoiding hassles and maximising your Mount Isa investment property return. Retaining them is just as important.
Our Jays property management team helps our landlord clients to retain their good tenants by ensuring proactive property maintenance and effective communication.
The benefits of sourcing and retaining good tenants
There are many benefits of sourcing and retaining good tenants for your Mount Isa rental property:
- Reduced vacancy rates to maximise your rental income. It’s important to remember that tenant vacancy periods cost you money when you’re a landlord.
- Consistent, on-time rental income to help with your property cash flow for expenses like loan repayments, rates, repairs and maintenance.
- Good tenants will treat your Mt Isa investment property like it’s their own, reducing the potential cost of repairs and maintenance.
- Generating a positive relationship with your tenants so that there are no or minimal disputes.
- Reduced marketing costs to attract new tenants because of your lower tenant turnover.
- The increased marketability of your Mt Isa property to other investors if you decide to sell it. Having good, long-term tenants in place reduces investment property purchase risk for buyers, so it can increase your chances of selling quickly for the best possible price.
How we can help
Jays Real Estate has been Mount Isa’s premier residential and commercial real estate agency since 1981.
If you’re thinking about leasing, buying, selling or renting any Mt Isa property, or if you need your property professionally managed, then contact our team today for an obligation-free chat!
We’d be happy to provide you with advice and to answer any property questions you have.