4 tips to getting your rental leased when it's been on the market too long
18 September 2019
Have you have been struggling to find tenants for some time now? You have a right to be concerned, however, try not to stress too much, as we have our top 4 tips for leasing your rental despite it being on the market a little too long.
- Present your home for your desired tenant
First impressions count! Before prospective tenants even visit your property, they have already skimmed through hundreds of others and formed an opinion based on the images used for the online listing. It's essential to invest in high-quality photography to position your property in the best light. And let's not forget to ensure your property is neat and tidy come inspection day.
- Know your competition
Don't want to lower your asking price? It's worth checking out some of the other properties in the same price range in your suburb that you are competing with. Make sure you are attending property viewings in your area and note where the competition is priced.
- Review your asking price
After doing your competitor analyses, consider leveraging third party marketing data www.rent.com.au/landlords/rentreport you might want to consider lowering your asking price. Think of this as a short term pain, for longer-term gain. Even ten or twenty dollars per week could get your rental leased quicker, rather than forgoing additional rental income while you wait.
- Take it off the market and revamp it
After a month of vacancy, this might seem counter-intuitive; however, this tip is sure to pay off. Take your rental off the market and spend some time freshening it up. Whether it's updating the kitchen, lighten up the rooms or building an internal laundry, you will be relisting your property as if it’s brand new to the market. Make sure you take new photos!
How can Future rent help?
FutureRent gives landlords flexibility, with early access to their rental income. Find out more about FutureRent here.