Want to attract quality tenants and enjoy a low vacancy rate — regardless of market conditions? Due to the pandemic, Queensland investors are reaping the benefits of low vacancy rates , as people make the move to the Sunshine State in search of a more relaxed and affordable lifestyle. However, regardless of market conditions, there are some simple things that investors can do to make sure that their investment property is ALWAYS attractive to prospective renters.
If you want to enjoy low vacancy rates — now and into the future — consider our expert tips for making your property more appealing to renters.
ADD SOME CONVENIENCES
When you want to create an appealing rental property, think like a tenant. Adding some simple conveniences, such as air conditioning or a dishwasher, can make your tenants’ lives more comfortable — and increase demand for your property.
KEEP UP WITH PROPERTY MAINTENANCE
Regardless of age, every property requires some form of property maintenance. Whether it’s something simple like replacing a broken door lock — or a more serious like repairing leaking gutters— keeping on top of maintenance is an important part of owning an investment property.
CREATE AN ENVIABLE OUTDOOR SPACE
Does your property have an outdoor space that’s underused or neglected? Or do you have a tight outdoor space, such as a balcony or courtyard? Making the most of your outdoor space can really add value for a tenant. Whether you need to tidy up the backyard, or add a green wall to the courtyard, showing your outdoor areas some love can make a big impact with the overall presentation and liveability of your property.
REFRESH YOUR LOOK
When it comes to renovating or updating your rental property, you generally want to appeal to the widest possible audience. Opt for whites, neutrals or subtle tones if you choose to repaint; and select popular fixtures and finishes that will complement the overall style of your property.
LOOK AFTER YOUR TENANTS
Your tenants are one of your most valuable assets, so make sure your property manager is looking after their needs. Your Choice Realty specialises in property management across Brisbane, Ipswich and surrounding areas. With decades of experience, we will ensure a stress-free experience for tenants and investors alike.
If you want to maintain a low vacancy rate, let our experienced team of property managers help you create a more attractive investment property. Get in touch with our Forest Lake office by calling Your Choice Realty on 07 3278 9200. Alternatively, you may send an online enquiry today.