What do prospective tenants look for?

Before letting commences there are certain things you want to check are in place to ensure your property is meeting the needs of the market, is presenting at its best and has standards for new tenants to follow.

 

A property that has met more of the markets needs than others will always be a tenant’s choice above the rest.

To start with, the first thing we want to understand is what do tenants look for in a home? Understanding the tenant’s needs will allow you to investigate and ensure your property is doing its best to meet as many needs as practical. Now, no property can meet every single need, because every person needs are different, however you can ensure you do everything possible to meet those needs and in turn maximise your properties potential of being leased by a suitable tenant, all while achieving the best dollar return for today’s market. (Today’s market, not yesterday or tomorrow’s but today’s)

 

“Everyone has a checklist, and the more ticks your property gets the better chance you have of ensuring your property is leased and remains leased

  • LocationProximity and access to local facilities and public transport, Local catchment area for schools
  • Value for money Is it priced within the market and competitive with other properties
  • Presentation & Cleanliness– Is the home clean, and in good working order. A clean property is more appealing and provides a feeling of freshness – First Impression is everything!!!
  • PetsWill the premises permit pets
  • Bedrooms & SizeAre they sizeable rooms to have Queen and king size beds? Do they have wardrobes? Are they carpeted?
  • Wardrobes Floor to ceiling built in and walk in robes
  • Bathrooms & BathFamilies with children usually choose homes with Baths and second bathrooms
  • Dishwasher All most a must for every household, Especially if encouraging families into a home
  • Climate ControlJust about every Queenslander is after air conditioning/heating in as may rooms as possible, ceiling fans is a bonus for air-flow and should be installed at a bare minimum.
  • Cooking Facilities – Good order, clean condition, seal intact. Gas is highly desirable
  • Car AccommodationLock up garages, under cover parking; some form of protection for a vehicle, Remote operated garages are an advantage
  • Storage Facilities – Large walk in pantries, linen press, shelving in garages all prove attractive; people love to store items, so having places where it can be conveniently stored but easily retrievable helps make any property attractive.
  • Fly ScreensAre the screens working or torn with holes
  • Security More emphasis is being placed on security, installing items such deadlocks, security screens and motion detectors are attractive to the right tenant
  • Lighting – Does the home provide natural lighting, how does the home position to the sun? Is exterior security lighting present?
  • Everything OperationalThis includes no leaking taps, stiff sliding doors, non-operational hotplates etc. Owners must ensure everything included with the property is safe and working properly.
  • External Entertaining AreasIs there room to have a BBQ and table & chairs; undercover is usually a preference for wet weather and sun protection
  • Fencing – Is the premises fenced & secure
  • Low MaintenanceTimber/ceramic floors and an easy-to care for gardens. High-maintenance garden might be neglected and regular maintenance should be considered inclusive in the price of the weekly rent.
  • Peace & QuietA property in a quiet street is likely to attract higher rent than one in a noisy location.
  • NeighborsAre their yards overgrown and old cars out of rego lying out the front?

Other things of Influence….

  • Is the owner selling the property
  • Length of lease available

Now that you know what’s really important to prospective tenants, it’s time to get busy and start getting as many boxes ticked as possible.