February 1st, 2022
12 things insanely productive Property Managers do differently
Throughout 2022, the Australian property market has and continues to change at a rapid pace.
With rising interest rates and increasing issues with housing affordability, it’s no wonder that millions of Australians are now looking for ways to change their living behaviours to better suit their needs.
However, these changes are not simply affecting property owners. They are also impacting significantly on tenants looking to rent in the current climate as well. In this constantly evolving market, it’s a good idea to have a set of key strategies and tactics to ensure you continue to attract the best tenants and keep them for the long term.
In this post, we’re going to outline 8 of the best ways to find the A-grade tenants you’re after in 2022, as well as how you can keep them happy where they are—for longer.
A great tenant is a Property Manager’s dream.
They are the kind of tenant who pays their rent on time, keeps their property in good shape and doesn’t cause any headaches for you and your landlord.
Unfortunately, however, not all tenants are cut from the same cloth.
That’s why, given the lack of property supply in the current rental market and the resulting desperation of renters, it’s now more important than ever to make sure you’re attracting the right tenants to your properties to avoid any headaches down the track.
While research suggests that the vacancy rate is slowly beginning to stabilise across most cities in Australia, working to attract the right tenants and hold onto them for longer will help to save you a lot of time and make your life much easier regardless of upcoming market conditions.
With high-quality tenants, you can have peace of mind that the property is in good hands. Any maintenance requests will be simple to handle, and you’ll also avoid the prospect of nightmare tenants for yourself and your landlord.
Let’s discuss some of the best ways to find and attract the right tenants to the properties that you manage:
Prevention is better than cure.
Screening your applicants thoroughly allows you to identify issues before putting pen to paper—saving you a lot of trouble up front.
In a 2014 SmartMove user survey, property owners expressed their most common concerns about bringing on new tenants, with the top concern being payment problems. This means that ensuring your applicants have a clear record of on-time payments is critical if you want to place the right tenants and keep your landlord happy.
It’s also wise to keep an eye out for certain qualities in your applicants, such as:
A great property listing is one of the best ways to attract tenants to your property, complete with a strong narrative, photos and even a video!
When you’re writing your listing, stop and ask yourself—will this attract my ideal tenant? If the answer is no, it’s best to rewrite your listing to reflect the values of the ideal tenant that you are looking to attract.
Making applicants aware of the local amenities in the area, such as schools, shops, beaches, and health and medical services, is a great way to attract the right kind of tenants to your properties.
Applicants that appreciate having convenient access to these amenities are likely more in line with the ideal tenant that you are after.
Making expectations clear before handing over the property to your new tenants will ensure that everyone is on the same page and comfortable with the agreement as it is.
This will also ensure that there are no surprises further down the track for either party.
Once you’ve found great tenants for a property, you’re going to want to make sure that you can hold onto them for the long term. To do this, you’re going to want to:
Tend to any maintenance requests promptly to show your tenant that you’re invested in them and their comfort. Failing to do so only risks fracturing your relationship with your ideal tenant.
Even better, pre-empting maintenance and being proactive in carrying it out is a great way to keep your tenant even happier.
Regular communication with your tenants is a great way to maintain a good relationship with them while ensuring they are up to date with everything they need to know about the property.
Offering your tenants access to a Tenant Portal and/or Mobile App enables them to stay informed and up to date on their terms, with access to information such as leasing conditions, maintenance requests and when their next rent is due.
In 2022, this is a great way to provide your tenants with instant access to the information that they are after, while also opening another direct line of communication between you and your tenant.
As a property manager, dedicated Property Management software such as PropertyMe can help you stay super organised and on top of everything you need to do with regard to each property under your management.
Not only does this help to make your life much, much easier, but it will also help to keep your valued tenants feeling well looked after and happy with where they are living.
At PropertyMe, we make property management a simple and easy process for all parties involved. PropertyMe helps you to stay compliant, increase efficiencies, grow your rent roll and provide a better service to your clients.
Our software is the most feature-rich cloud property management solution in Australia. With an easy-to-use interface, automated workflows, mobile app and simple client access, you’ll have everything you need to manage your properties with ease and keep your ideal tenants satisfied.
Contact our product specialists to start your Onboarding Journey with PropertyMe today!