Good tenants help maintain the value of your investment property and giving you peace of mind. We’ve outlined the qualities of a good tenant, as well as how you can find and keep them in your investment property.
Good tenants are essential to a positive rental experience for landlords, but how do you know if you have found one? We’ll take you through the qualities to look for as well as how a great property manager can help you identify and secure the best tenant for your investment property.
They Pay Rent On Time
Paying rent on time is one of the most fundamental aspects of any tenancy and a key feature of the rental agreements your tenants will sign upon accepting the lease. A good tenant will consistently pay rent on time, which ensures your investment property continues to deliver an ongoing income stream to you, the landlord.
However, prompt payment isn’t always a given if you have an unreliable tenant. Thorough reviews of rental applications by experienced property managers are essential when finding new tenants to ensure there’s no history of late payment with their previous rentals, as well as reference checks that confirm their employment status and financial ability to meet the rent requirements.
They Care For The House As Though It Was Their Own
A tenant that cares about your property is instrumental when it comes to maintaining the value of your investment and keeping your mind at ease. As well as not causing damage to the premises, a good tenant will keep the property clean, be respectful of neighbours and let property managers know when problems arise. They tell you about maintenance issues and improvements.
As we discussed in this article, research shows that many tenants are worried about raising issues for fear of being evicted or having their rent increased. However, keeping on top of any issues is essential in keeping your property in good condition. At Taylors, we encourage tenants to raise any issues with us by developing positive relationships and fostering open communication. By being proactive, we can move quickly to address any concerns, maintain the value of your investment and make sure your tenant is happy.
Good tenants are also invaluable when it comes to identifying areas for improvement, as they have first-hand experience living in the property and a desire to make it better. These changes, like adding air-conditioning, addressing a damp problem, installing a dishwasher or re-painting walls, not only add value to the property, but also increase the chances of the tenant extending their lease.
They Stay Long-Term
Keeping a tenant in your property long-term is ideal, as it saves you time and money trying to replace them if they leave. The way to achieve this is by looking after your tenant – the happier they are in your property, the less likely they are to want to move on. Addressing issues promptly, communicating regularly with tenants and building good relationships are pivotal to a long tenancy.
They’re Easy To Communicate With
The Taylors philosophy for exceptional property management centres on pro-activity and excellent communication, because we know it forms the basis for strong relationships and trust. A tenant that meets us halfway in communication is a great asset in ensuring your property is well cared for.
How To Find And Keep A Good Tenant
A great property manager is the first step in finding a good tenant for your property. Experienced property managers know what to look for in prospective tenant applications to set the tenancy up for success, as well as understanding how to manage relationships on an ongoing basis to make the tenancy a positive one for tenants and landlords alike. Read our article for more information about how we find the right tenant for your property.
Taylors specialises in property management so we can dedicate our time to providing a great rental experience for landlords and tenants. To find your next tenant, get in touch with our team of specialists today.