Use The Hard-to-Rent Checklist
Even though it is the peak time of the year for renting properties, some properties may still be sticky when it comes to finding a new tenant fast.
To assist your team in renting these stubborn properties, there are a number of things you can do. A few ideas are outlined in the ‘Hard-To-Rent’ property checklist.
- Reduce the price
- Call owner more (2-3 times per week) for an update of the activities taken to find tenants for their property.
- Advise the owner, if we do not rent the property this week then next week the price may need to be changed (lowered).
- If the property has been vacant for greater than 10 days with no applications received, suggest a 10% price reduction.
- Leasing Manager/ Property Manager to do inspections so I’m able to advise prospective applicants about the property and be more informative with owners.
- Ensure vacancy/rental description is correct and appealing (in the right order, not missing any features).
- Check the order and quality of your pictures on your website– best pictures first, most unappealing (bathrooms, bedrooms or outside of house if unattractive) last.
- Feature listings on realestate.com.au/ domain.com.au
- Make a “Property of the Week” flyer and have it displayed on the front bench in reception.
- Make it a Rental Rewards Property (i.e. incentives for tenants such as gift vouchers/appliances when leased).
- Ensure that the “For Rent” sign is at the property.
- Schedule more inspection times.
- If the property is situated around the universities – advertise the rental property on websites (e.g. UQ accommodation).
- Place a “For Rent” banner on the balcony.
- Send corporate flyers to relocation agencies.
- Visit the database of all the enquiries collected – call and follow up all enquiries of tenants Ads in the Local Paper.
- Letterbox flyer around the property/complex (great listing tool as well)
- Have a different person within your office call the owner for a letting update
- Inform the owner of the last 14 properties we have rented to ensure they know that the market is still buoyant.
- Send the owner a weekly activity report from inspectrealestate.com.au
- Send an activity report from realestate.com.au
- Send an e-brochure for the property from REA – cost dependant on the number of brochures sent.
- Ask the owner if they think we could be doing anything else to rent their property.
- Use inspectrealestate.com.au to help rent your properties faster.