What does an ideal tenant look like to you? Is it someone who pays their rent on time, maintains the property and is respectful of their neighbours?
Property managers look after a wide portfolio of rental properties and have lots of experience helping investors get the best possible return, which includes finding a tenant who meets all of your requirements.
Here are four ways a property manager could help you find the best possible tenant.
Read more: How Property Management Can Work For You
1. Longevity
A property manager will know some of the key tips and tricks to identify how likely a tenant is to stay on, such as previous rental history and the person(s) life situation. When developing the contract and working with you, they can also suggest clauses in the contract which could also result in the resigning of the lease for an extended period of time.
2. Character
People who work in residential property management have gone through the screening process many times before, interviewing tenants for all kinds of home dwellings.
Because of this experience, they will know relatively quickly if the person is of good character and is likely to be a great tenant - or if no further action should be taken with them.
3. Rental Return
Each property manager works in a particular region of a city or town, and will have a solid understanding of the local trends and rates for rent. So this means they can help maximise the rental returns which your property makes based on their access to information. They can also list the rental property at times of the year when demand is at its highest and advertise to people who would be more willing to pay those rates.
4. Wider Audience
Every week that your home sits empty, you will have to cover the mortgage payments. But a dedicated rental property manager will proactively work to make sure this scenario is always minimised, advertising the rental property as soon as the current tenant has given notice and making sure it is listed to a wider audience on prominent real estate websites.
