Tips for a Successful Rental Property

When it comes to your rental property, ensuring the best return on investment means tenants are paying on time, rental appraisals are regularly carried out, and the property is kept in tiptop shape.

Successfully operating a successful rental property can be a challenge and in a highly competitive market it can be difficult to always ensure a property is performing without the expert support of a professional property manager.

If you’re looking to ensure your property investment is a success here are a few simple tips:

Update the property regularly and carry out affordable renovations

New fittings and fixtures and regular scheduled maintenance and upgrades will make a huge difference for rental property owners looking to find suitable tenants.

A fresh coat of paint, general improvements which can be reimbursed through rent increases and a quick clean to common areas. Also responding to maintenance requests can make a huge difference to a rental property being a success.

A property manager can help you find out which maintenance and upgrades would be well received by prospective tenants and what would add value and bring the highest rental returns.

Screen your tenants

Not everything is as it seems and taking the time to screen possible tenants is important to ensure individuals that are applying for your rental property don’t have any issues with money or any negative rental reports in their history.

Taking the time to run a report and find out if the prospective tenant tenancy issues in the past can help you to avoid future issues with the tenant.

Keep your tenants informed

Whether you are emailing your tenants, phoning them or providing SMS updates, keeping your tenants informed, this can help to ensure the rental experience is smooth and everyone is fully informed of any maintenance, rental arrears, and any important information that the tenants or property owner should be aware of.

Property management

If you’re looking for a simple rental process the simplest way is to have a professional manage all elements of your tenancy. Property managers take care of a wide range of tasks including insurance, receiving rent, financial management, emailing trades for maintenance and repairs, advertising the property for rent and finding the best tenant for your property.  Property managers are local members of the community and have a deep understanding of the local area, making them the ideal choice for investors looking to quickly rent their property to the ideal tenant.

At All Ways Property Management we believe diligent tenant selection, market rent, high occupancy equals maximum returns. We are passionate about property management and all areas of property investment and support our investors to get the best results for their property.

We believe the connection between the tenant, owners and property managers is personal and we focus on tailoring a solution to meet each individual investor and tenant to ensure we protect, maintain and add value to each owner’s asset whilst ensuring the best possibly tenancy. Our focus on renters have a positive experience ensures rent is paid on time and empty rental properties and vacancies are kept to a minimum.