When you’re looking to your property for rent in Thomastown there are a variety of points to pay attention to ensure you have the best experience possible. Following these ti’s below you can have all bases covered to ensure that your tenets will be protected, as will you. If you make use of the ideal house or building management solution you can turn your investment into a business.
Treat It Like A Business
Managing your building and space may not be your primary job, but it is still a business and a source of extra income at the end of the day that can have a massive impact on your progress. It’s important to remain professional with your tenants at all times and keep your finances intact, as well as perform thorough tenant screening prior to renter move in to ensure you don’t get stuck with an inconvenient situation. As the boss you get to decide what outcome and type of tenant you have living there.
Find Tenants Online
Most dealing in this space operate online, either through personal postings or through postings via management companies. The most effective way to find tenants is to create an online rental listing with updated images, and follow up regularly. Promote your listing on sites and social media platforms to gain maximum traction.
Hire A Management Company
Hiring a management company can be a worthwhile investment if you’re looking to save on the time and hassle involved in actively managing the space and the tenant needs. These professionals can take on marketing your space, collecting payments, and dealing with tenant issues. A good manager can also help manage multiple properties, ideal for those maintaining full time jobs and lives.
Set The Right Price
To set the right price, we recommend researching your market to learn what the fair market price is in your area. Pricing yours at the same margin will make sense in your location and can mean the difference between vacancies and attracting good tenants.
Require An Application & Agreement
A good application will give you quick information about your prospective tenant, as well as background checks and all needed elements of authenticity. It’s important to ask the right type of questions so you have all of the information you need to make a smart decision about who will live in your property. Once approved you will also need bank statements and often credit checks before finalising the agreements.
When you are looking to rent your property in Thomastown be sure to understand the needs and wants of the markets, as well as how to go about dealing with the tenant process. Contact us today to find out more!