Independant Property Broker - Why your property is not leasing

Here are some ideas to help get your property leased faster for a better result.

With an increasing number of investment properties coming on to the rental market it’s more important now than ever that you get your marketing and services right from the outset to avoid the dreaded long and costly vacancy period.

There are only a handful of reasons why your property has not leased.

Great photography and well written advertising copy
If you’re not advising your landlords to have professional photography taken for your rental portfolio, you are drastically reducing their chance of finding a great tenant in the shortest possible time frame.

There are only so many properties a tenant can inspect on a weekend and the ones that look and sound the best will command the most attention.

Cleanliness and maintenance
The role of a vacating tenant is to hand the property back in a clean manner, the same way it was handed over to them. It’s the landlords role after advice from their property manager to attend to any maintenance items which will add to the appeal of your property. A good clean if needed to spruce things up always helps.

Minor improvements can include painting, new carpet, lose or cracked tiles, loose towel rails and cracked windows.

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Availability
Being available to show tenants your properties is the key to minimising vacancies. If you receive a sight unseen application don’t wait until they have inspected the property to process the application. Process the application immediately, if they sound great do everything you can to get them through as soon as possible.

Most agents won’t show a property outside of inspection times which are usually around lunchtime or at 5pm when tenants are working. Be available when tenants are available. Offer all enquiries a private inspection if they cannot make a scheduled time.

Research
Just because you leased your property for a great price last time does not mean you will get the same result in a different market. The market experiences varying levels of demand throughout the year as well as varying levels of supply or competition from other investment properties.

To price a property correctly you require a review of other competing rental properties coupled with recent comparable rental data. A landlord is better off leasing a property for $500 per week immediately as opposed to having a property empty for two to three weeks for an extra $20 per week.

Feedback on all the above is essential from your property manager during a campaign. If you’re not receiving constant updates and advice on how to get a better result faster you should consider changing property managers.

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If you would like to engage us to buy a home, an investment or to manage a property,
or learn more about our services, we’re ready to hear from you.

1300 472 289

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