Is your property vacant? Be honest, you know there is a reason.
Is it that the price is too high? Could it be that it presents poorly, or you’ve got an inexperienced managing agent, or even a lack of communication? Any one of these things can cause your property to sit empty while others are getting snapped up. With the start of a new year, or the end of a lease period, tenants can often decide it’s time for a change. It could be as simple as they are sick of living in a home that has inadequate heating or cooling and don’t want to spend another 6 or 12 months putting up with uncomfortable conditions. It could be that the paint in the bathroom is flaking and they no longer want to get out of the shower looking like they have been in a snow storm. Or that they can afford to pay more for a place with newer carpet and a fresh coat of paint.
As a property owner, you can maximise the process of attracting quality long term tenants by ensuring that the property is comfortable to live in.
Tenants are no different to property owners. They like their property to be cool in summer and warm in winter. If they experience discomfort during any of the seasons, this could lead to the tenant vacating the property.
If you know that there is an issue with the temperature of your property, you may like to consider installing ceiling fans, awnings, split system or ducted air conditioning etc. to ensure that your tenants are well cared for.
With these additions you may also be able to achieve a little extra rent and reduce your vacancy periods if your property is competing with others on the market.
Keep them comfortable, keep them happy, and you may just keep them in your property.