What Do Modern Renters Really Look for?
Your tenants are the lifeblood of your property investing business. You need good paying tenants to ensure the success of your property strategy. And in order to find them, you first have to understand what they look for in a rental property.
According to news.com.au, there are now about seven million Aussies who are renting their living accommodation. But the types of renters have drastically changed now. Apart from those who are just saving money to buy their own house and those who can’t afford to buy one, there are those who simply choose not to purchase a property.
In the report conducted by McCrindle Research, homeseekers now prefer more freedom, flexibility, and choices. So if you want to find good tenants, you must ensure that you have all of the following items:
Renters are more tech-savvy now. This means if you don’t have good Internet connection or a Wi-Fi connection at the very least, you should get one right away. Technology has become part and parcel of modern living, and some Aussies need good Internet connection for work and other matters.
Location is still the top priority among renters, especially if your property is near a transport hub. Convenient transport options can make all the difference if you wish to have prospective renters lining up at your door. This is why we include available transport infrastructure in our 44-point checklist.
The neighbourhood is often an indicator of the quality of living that the local residents have. Renters usually look for a community that caters to the lifestyle that they wish to achieve. So check if your investment property is near fitness centres, parks, or recreational establishments. You can also check if there are future plans to build such amenities in your area. You can use this information to target certain demographics and attract potential renters.
Keep in mind that property rental is a business. You need to research carefully and plan how to go about renting your property and meeting the needs of your tenants. Fortunately, we can provide the help that you need to run your business right.
If you want to know the best strategies in property investing and wealth creation, don’t hesitate to talk to us now.