4 Secrets To What Attracts A Tenant To A Property
Property Investment in Seven Hills and in general is all about securing a good tenant for as long a period of time as possible. Therefore, when considering buying an investment property for this purpose, it is important that you choose the right property and also consider adding features that will attract the right tenant.
1) Property Position
Properties in close proximity to facilities like schools, libraries, tertiary education and near shopping areas like supermarkets, take-aways, restaurants and banks are highly desirable.
Being close to the business district, waterways and beaches can also be attractive to particular tenants. Having parks, playgrounds, walking and bike trails nearby can also prove favourable.
In areas that have public transport, being on or close to a route is also desirable.
2) Tenant Friendly Features — Inside
Inside a property, it is important that features are designed to be compatible with a tenant’s lifestyle, as well as protect the life of the property. You should look at updating out-dated kitchens, bathrooms and living areas with a few of the following suggestions:
- The kitchen is the heart of the home and the first thing tenants will inspect. You don’t necessarily have to put in a new kitchen. Painting kitchen cupboards, replacing door knobs or installing a mixer tap can create the desired illusion of a makeover.
- Resurfacing the bathtub, basin and shower base can give new life to outmoded fixtures. Replacing taps, shower heads and other fittings with modern equipment and replacing a shower curtain with a shower screen can create an improved look.
- Replacing fluorescent lighting with low-voltage fittings that can plug into existing sockets without the need of an electrician. Also consider modern pendants for bedrooms.
- Replacing light switches and installing dimmer switches can give the look of a newly refurbished home.
- Selecting good quality paint for interior walls and woodwork that is of a strong wash and wear quality.
- Choosing carpet that is not light in colour, resists stains and is hard wearing.
- Considering tiled floors for high traffic rooms like passageways and living/dining and kitchen areas, or a quality lino.
3) Tenant Friendly Features — Outside
These days with peoples lifestyles becoming busier, features on the outside of a property need to be low maintenance.
Gardens selected with hardy native plants that cope well in the local climate, and lawned areas kept to a minimum is smart. Having a fully automated watering system with pop-up sprinklers and dripper systems to plants is compatible with busy lifestyles of today. Further, garden beds with plastic underlay, topped with bark chips that discourage weed growth ensure an easy garden to manage by most tenants.
4) Security Features
Security features are becoming necessary in today’s changing world.
Considering features like front security screen doors, deadlocks, window locks and in some cases window security grills make a property more attractive to the right tenant. Installing movement sensor spotlights to the front drive and front door walkways, and lockable access gates again are good security features to be considered.
Implementation of these ideas will not only spruce up your investment property but also add value to the property. You may have to invest some cash in the short term for these refurbishments, but remember that you will be spending a little now to earn a lot in the long term. Better quality properties attract better tenants who will enjoy living in your property, look after it and be willing to stay for longer.
Making your property ‘tenant friendly’ ie modern and comfortable, is all part of smart and successful property investment.
If you are daunted by the thought of finding an investment property with all these features or the required renovations, consulting a property manager is your best bet. A good property manager will take care for your property, ensuring it obtains the highest rent achievable, collect the rent and pay the bills on time, minimise vacancies, keep you updated of any maintenance or other issues, and even oversee renovations.
An experienced property manager can potentially save and earn you thousands, relieving your stress-and all for a few tax-deductible dollars a day.
About Jhai Mitchell
Jhai is an award winning Internet Marketing Real Estate Agent for Elders Toongabbie and Kings Langley. After running his own internet marketing business he has now set his own sites for the real estate industry. He observed that 90% of real estate agents did not know how to market themselves online. Jhai is now fixed on one goal. To teach real estate agents that they can market online so much better than they currently are.
Since then he has been consistently quoted in the Sydney Morning Herald and Real Estate Business online. He is a regular guest blogger on TheHomePage.com.au, sharing his expertise of marketing aspects for the Real Estate Industry. His biggest passions are his wife, martial arts, dogs and most of all property.