Tips for renting out your Mount Isa property
Renting out a Mount Isa property is a great way to maximise the return on your investment. But it’s important to give yourself the best possible chance to do that. Read on to find out our top tips to rent out your Mount Isa rental property.
Tip #1 Check out your competition
This will give you an idea of the types of properties available and current market rent rates. See how your property stacks up to the other options that people looking for a rental property in Mount Isa have.
Use comparable properties to your property in terms of features as a guide. For example, properties with the same number of bedrooms, bathrooms and car spaces. You should also compare properties that are a similar age and condition to your property, and importantly, compare those that have the same extent of air conditioning. Similar properties that are fully air conditioned in Mount Isa will be valued more highly by potential tenants than those that aren’t.
Tip #2 Make your property as appealing as possible
Properties that generate the most tenant interest are ones that look the most appealing. Do everything you can to make your Mount Isa rental property as appealing to potential tenants as possible before you advertise it, including tidying up your yard. Make sure that your property has street appeal.
You should also get high-quality photos taken that highlight all of the best features of your property, both inside and out. Listing it online with a good written description and visuals will help to generate maximum interest and potential rental return. It’s important to understand that your potential tenants could come from anywhere, so an online listing is crucial. People come and go from Mount Isa all the time due to the transient nature of working in the mining industry.
Tip #3 Hire an experienced local property manager
Hiring a dedicated property manager like one of our experienced team at Jays Real Estate can save you a lot of time and hassle as a landlord. We can take care of everything for you, including:
- sourcing and screening potential tenants to help find you find high-quality applicants
- preparing tenant lease documentation
- collecting tenant rent
- communicating with tenants and handling any queries on your behalf
- conducting regular property inspections
- arranging for any necessary property repairs and maintenance subject to your approval
- ensuring your legal compliance as a landlord
Tip #4 Source high-quality tenants
This really is the key to minimising any hassles as a landlord. High-quality tenants will look after your property like it was their own, and they’ll always pay their rent on time.
Unfortunately, not all tenants do that, so it’s absolutely crucial to choose the right ones for your Mt Isa rental property. An experienced local property manager like one of our team at Jays Real Estate can help you to do that by doing a thorough screening and background check on your potential tenants before you hand over the keys to your property.
Tip #5 Look after high-quality tenants
Once you’ve found high-quality tenants, it’s important that you look after them so that they want to stay and renew their lease when it ends. The best way to look after high-quality tenants is to have a prompt response to any reasonable requests. A good local property manager can help you to do that.
If you’re thinking about selling, buying, leasing or renting any Mt Isa property, or 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.