Subject: News Article re Terri Scheer for everyone's information How to find and hold good tenants
By Carolyn Majda
Wednesday, 18 July 2012
A tenant can make or break a landlord's experience of owning a rental
property. Finding good tenants and keeping them happy is one of the best investments a
landlord can make. Sourcing good tenants is one of the most important tasks for landlords who
manage their own investment properties. By ensuring they have a positive experience while living at your property,
they may be more likely to pay their rent on time, stay in your property
longer and treat it as if it were their own. Here are some tips to find and hold on to great tenants: Think about the type of tenant you want to attract Keeping a good tenant happy begins before you've even purchased your rental
property. When choosing a property to invest in, think about the tenant demographic
you want to attract, for example a family, sole tenant or couple, and choose
a home that is likely to appeal to them. Properties that are close to good schools, shops and public transport are
likely to be well sought after and may give you a larger pool of prospective
tenants from which to choose. Keep up appearances No one wants to live in a property that has stained carpets and marked
walls. A home that is poorly presented by the landlord may deter good
tenants from applying to rent your property in the first instance, and be
poorly cared for by the successful tenant. Similarly, a property that requires as little maintenance as possible will
make life much easier for both tenants and landlords as it will minimise the
effort and cost involved in the upkeep of the home once the tenant has moved
in. Presenting a clean, tidy, low-maintenance and well cared for property will
encourage tenants to treat the property as if it were their own. Generate interest In order to generate interest in the lease of your property, landlords may
be required to place advertisements in newspapers, on various real estate
websites and on online noticeboards. The advertisement should include
information about the property, when open inspections are scheduled for, and
the lease application deadline. It is a good idea to arrange open inspections at times that would be
convenient to the type of tenant you want to attract. For example, if you would like to attract young professionals, arrange the
open inspection after working hours so it is easy for people to attend. At the open inspection, ensure you talk with as many potential tenants as
possible so you can put faces to names when processing lease applications
later on. Screen tenants After the lease application deadline has closed, landlords will be required
to screen potential tenants. The first step is to contact the employer of your preferred tenant to
confirm that the information they have provided regarding their position,
length of employment and salary is correct. It is also important to contact their previous landlord to discuss any
issues that arose during their last tenancy, as well as the personal
referees listed in their application. If an applicant is applying for his or her first lease and has no previous
record of renting, speaking with responsible adults such as school teachers
may suffice. If you are a member of a specific real estate industry association, you may
have access to a tenant database which you can also use to search the names
of your shortlisted potential tenants to find out whether there are any
recorded issues with previous leases. Attend to maintenance issues promptly Once you have selected your tenant and they have moved into the property,
ensure you make every effort to attend to any maintenance issues promptly. It can be quite frustrating for tenants if their requests for repairs go
unanswered, and if they aren't getting the attention they deserve they may
begin to question their commitment to your property and become more careless
with it. Injury or loss resulting from a safety hazard that has not been attended to
might also give rise to a costly legal liability claim. Responding to maintenance issues in a timely manner signals to your tenant
that you care about the property and value their concern for its condition.
This can contribute to creating a positive renting experience for your
tenant. Even if you do find good tenants, it is important to not take them for
granted and rely on them to make sure nothing goes wrong. Even the best tenant can accidentally damage a property or lose his or her
job and be unable to pay rent. Every landlord should have a tailored landlord insurance policy that covers
both malicious and accidental damage, legal liability and loss of rental
income. Landlords can also enhance risk management by appointing a property manager.
The time and effort that property managers can save landlords as well as the
experience and knowledge they provide can be well worth the cost for their
services. A property manager can also help to find tenants, ensure the correct
paperwork is in place, assist landlords to form a professional relationship
with their tenant, collect the rent, conduct property inspections and liaise
with the tenant on behalf of the landlord. Carolyn Majda is insurance manager at landlord insurance specialist Terri
Scheer Insurance.
Best regards
Linda J. Debello
L J Gilland Real Estate Pty Ltd
PO Box 19, Zillmere 4034.
Office:- 07 3263 6085
Mobile:- 0409995578 Confidential Email:- The information in this message is intended for the
recipient named on this email. If you are not that recipient, please do not
read, copy, distribute or act upon the message as the information it
contains may be priveleged. If you have received this message in error,
please notify us immediately by return email. Thank you for your
co-operation.
By Carolyn Majda
Wednesday, 18 July 2012
A tenant can make or break a landlord's experience of owning a rental
property. Finding good tenants and keeping them happy is one of the best investments a
landlord can make. Sourcing good tenants is one of the most important tasks for landlords who
manage their own investment properties. By ensuring they have a positive experience while living at your property,
they may be more likely to pay their rent on time, stay in your property
longer and treat it as if it were their own. Here are some tips to find and hold on to great tenants: Think about the type of tenant you want to attract Keeping a good tenant happy begins before you've even purchased your rental
property. When choosing a property to invest in, think about the tenant demographic
you want to attract, for example a family, sole tenant or couple, and choose
a home that is likely to appeal to them. Properties that are close to good schools, shops and public transport are
likely to be well sought after and may give you a larger pool of prospective
tenants from which to choose. Keep up appearances No one wants to live in a property that has stained carpets and marked
walls. A home that is poorly presented by the landlord may deter good
tenants from applying to rent your property in the first instance, and be
poorly cared for by the successful tenant. Similarly, a property that requires as little maintenance as possible will
make life much easier for both tenants and landlords as it will minimise the
effort and cost involved in the upkeep of the home once the tenant has moved
in. Presenting a clean, tidy, low-maintenance and well cared for property will
encourage tenants to treat the property as if it were their own. Generate interest In order to generate interest in the lease of your property, landlords may
be required to place advertisements in newspapers, on various real estate
websites and on online noticeboards. The advertisement should include
information about the property, when open inspections are scheduled for, and
the lease application deadline. It is a good idea to arrange open inspections at times that would be
convenient to the type of tenant you want to attract. For example, if you would like to attract young professionals, arrange the
open inspection after working hours so it is easy for people to attend. At the open inspection, ensure you talk with as many potential tenants as
possible so you can put faces to names when processing lease applications
later on. Screen tenants After the lease application deadline has closed, landlords will be required
to screen potential tenants. The first step is to contact the employer of your preferred tenant to
confirm that the information they have provided regarding their position,
length of employment and salary is correct. It is also important to contact their previous landlord to discuss any
issues that arose during their last tenancy, as well as the personal
referees listed in their application. If an applicant is applying for his or her first lease and has no previous
record of renting, speaking with responsible adults such as school teachers
may suffice. If you are a member of a specific real estate industry association, you may
have access to a tenant database which you can also use to search the names
of your shortlisted potential tenants to find out whether there are any
recorded issues with previous leases. Attend to maintenance issues promptly Once you have selected your tenant and they have moved into the property,
ensure you make every effort to attend to any maintenance issues promptly. It can be quite frustrating for tenants if their requests for repairs go
unanswered, and if they aren't getting the attention they deserve they may
begin to question their commitment to your property and become more careless
with it. Injury or loss resulting from a safety hazard that has not been attended to
might also give rise to a costly legal liability claim. Responding to maintenance issues in a timely manner signals to your tenant
that you care about the property and value their concern for its condition.
This can contribute to creating a positive renting experience for your
tenant. Even if you do find good tenants, it is important to not take them for
granted and rely on them to make sure nothing goes wrong. Even the best tenant can accidentally damage a property or lose his or her
job and be unable to pay rent. Every landlord should have a tailored landlord insurance policy that covers
both malicious and accidental damage, legal liability and loss of rental
income. Landlords can also enhance risk management by appointing a property manager.
The time and effort that property managers can save landlords as well as the
experience and knowledge they provide can be well worth the cost for their
services. A property manager can also help to find tenants, ensure the correct
paperwork is in place, assist landlords to form a professional relationship
with their tenant, collect the rent, conduct property inspections and liaise
with the tenant on behalf of the landlord. Carolyn Majda is insurance manager at landlord insurance specialist Terri
Scheer Insurance.
Best regards
Linda J. Debello
L J Gilland Real Estate Pty Ltd
PO Box 19, Zillmere 4034.
Office:- 07 3263 6085
Mobile:- 0409995578 Confidential Email:- The information in this message is intended for the
recipient named on this email. If you are not that recipient, please do not
read, copy, distribute or act upon the message as the information it
contains may be priveleged. If you have received this message in error,
please notify us immediately by return email. Thank you for your
co-operation.
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