The process of securing the best tenant for your investment property is paramount for maintaining your property and peace of mind. As these case studies show, engaging the services of a professional property manager to identify good tenants can provide a great rental experience for both landlords and tenants.
As our Taylors Insight: Good Tenants - What To Look For And How To Keep Them illustrates, it is important to secure good tenants who pay rent on time, care for the house as though it was their own, stay long-term and are easy to communicate with.
The following two case studies exemplify the importance of making sure your property manager will find and keep good tenants for you.
Case Study 1
Taylors took over the management of an apartment in Bondi Junction that had previously been managed by the owner. The tenants had been on a private agreement, had only paid one week’s rent as bond and were constantly causing issues for the landlord. Upon signing of the Management Agency Agreement, we obtained the remaining 3 weeks' owed of the bond and completed a routine inspection to ensure the property was being well maintained and looked after by the tenants.
In this case, the tenants were consistently in arrears, they were unresponsive to requests for payment and reports of issues were coming in regularly from strata. The landlord took our professional advice on-board and agreed to a notice of termination being issued. The landlord has subsequently moved into the property temporarily and will be engaging our services to find and secure good tenants once they move out.
Case Study 2
When finding good tenants, good communication is essential as it forms the basis for strong relationships and trust. This is particularly evident when communicating with tenants relocating from interstate.
After meeting with a potential tenant at an initial home inspection, we sensed the couple were reliable and would look after the home. Once the due diligence process with their application had been completed and the tenants were successful with securing the property, we were sensitive to the anxiety they were feeling with moving interstate and maintained honest and open communication throughout the move to put their minds at ease. When delays were caused as they drove to Sydney and meant they would be unable to pick up keys from our office, we took the keys to the property so they could access their new home that night.
Since moving into their house, they have proven to be exceptional tenants and have continued to not only pay their rent on time, but look after the property as if it were their own. This has given peace of mind and trust in our professional service to our landlord, particularly given the high expectations he has with the management of his investment property.
Like To Learn More?
For more information on finding and securing your next tenant, contact our team of specialists today.