In some places, rents are up nearly 30 per cent in the past year, which is the largest increase since the Real Estate Institute of Australia (REIA) began keeping records nearly three decades ago. The problem of rental affordability and rental supply shortages will continue to be much talked about by concerned parties looking for solutions.
All but the very few landlords want to do the right thing by their tenants. It is not solely about the weekly income that investment property generates. It is also about the longevity of that valuable property asset and how it is being treated. It is about finding and retaining that tenant who pays their rent on time, keeps the property in good shape and doesn’t cause any headaches for you and your property manager. When it comes to finding the right tenant for a property, it’s more than just accepting the first applicant that ticks the boxes. So, what makes a good tenant?
Firstly, good tenants care.
- They provide a good detailed application, which means it is completed, with all the required evidence and contact details for referees. It will demonstrate they can pay easily pay the rent and can look after the property well.
- They have excellent references and an exemplary tenant record.
- They are easy to communicate with and are respectful and responsive.
- They always pay rent on time but would let you know ahead if they may be late for some genuine reason.
- They keep the property clean and tidy.
- They are accommodating with property inspections or any necessary tradespeople/workers.
- They advise the property manager of any genuine maintenance issues in a timely manner.
- They follow policy requirements.
- They adhere to legislation and terms of the Tenancy Agreement.