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Looking to rent out your investment property?
We've got you covered!
What we look for in a leasing agent
Selecting the right agent is the number one factor in determining the success for the leasing of your property. There are many components which often get overlooked, which could end up costing you countless dollars and hours! This is why we go through a crucial 6 step process that will clearly highlight who is the perfect agent for you, which will ensure that you successfully lease out your property to the right tenant, in the shortest time frame, for the most amount of money.
What we look for in the perfect agent?
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1. How many properties have they leased in the past 12 months in your suburb?
The more properties that an agent leases in your area, means the more likely they are to have access to tenants that suit your property. Having many potential tenants interested in your property drives up the competition and allows you to achieve a better rental income. However, in saying this, you also may not want to go with the agent that sells the most in your area, as they could potentially be too busy to give your property 100% focus and attention.
2. What type of properties do they specialize in?
There is no point using an agent for your 5 bedroom home if 95% of the properties that they lease are 1 bedroom units. For starters, they won’t have access to tenants with the budget or requirements for your property and also they will be inexperienced with leasing your type of property which could have devastating results.
3. What do they charge?
To find a new tenant for your property, a payment called a letting fee is charged by the agent to the landlord. This is typically 1-2 weeks rent which is due once they find you the right tenant for your property. Property management fees vary between 5 - 15% of your yearly rental income depending on your location, property type etc.
4. What is their average days on market?
Average days on market is another great way of determining an agents ability. Most good agents have on average around 10 - 31 days on market for each campaign. This ensures that your property isn’t on the market for too long which can make it look stale to tenants and put doubt in their mind that there may be something wrong with the property.
5. How long have they been in the industry?
Another important factor in determining who is the right agent for you is looking at how long each agent has been in the industry. Years of experience teaches many scenarios that may arise and teaches how to overcome them.
6. Past feedback
The feedback of our past clients is something that we heavily rely on in recommending agents for future listings. Customer satisfaction is among our top priority here at Find Your Agent. We review each agents past client reviews to ensure that they have provided a healthy experience and great rental result for their vendors.
How to prepare your property for rent
The following 3 cheap and easy cosmetic touches will ensure that your house is looking fresh and well taken care of for its new potential tenant. The most important part of a tenant inspecting your property is the first impression they get as they walk up your driveway and into your property. In the current market, properties that are renovated and ready to move in to, are doing extremely well and tenants are willing to pay a premium of having the luxury of moving into a fresh and modernised property.
Paint
A fresh coat of internal paint is your best friend while getting your house ready for lease. A bright white is usually our recommendation as it makes the rooms look a-lot more bright and light filled. A cream colour is also a great option for a rental property as it hides any dirt or small marks that the tenants may leave on the walls.
Painting your roof and driveway is not necessary, however it is definitely worth the small investment, once again improving the curb appeal and first impressions of your property for potential tenants. Usually a dark gray / charcoal is the color of choice for the driveway and roof.
New flooring
Replacing old carpet is also one of the best ways to freshen up your property and reel those extra tenants in. For the small expense of relaying new carpet, it is definitely worth it. Usually a dark color is best as it hides any dirt that buyers may walk into your home during an open home inspection. Replacing carpet with solid flooring such as floating floorboards is becoming more and more popular as well.
Pressure washing
Pressure washing the exterior of your home is an extremely cost effective strategy which dramatically improves the curb appeal of your property. It will remove any dirt and grime that has built up on your property and will give the home a nice fresh look. Pressure washing the roof and driveway is also a great and easy way to clean your property and give tenants a great first impression.
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