How to attract professional Tenants
Firstly, are Tenants who hold down professional jobs better than other types of Tenants? Not always! But – one of the key elements to finding a good Tenant is a person who has the capacity to pay the rent – on time, all the time. Someone who earns more will generally be a person who can afford to pay their rent.
Professionals will usually be more selective in the type of property that they choose. They are also less likely to have large families and their impact on a property will generally be less.
Of course, you cannot expect to attract a professional person or couple unless you have a property that falls within the scope of what they are looking for….
Some things to consider:
- The location of the property - Is it in commutable distance to central business districts or other places where Professionals may work, e.g. hospitals, universities, etc.
- The neighbourhood facilities - Are you in a precinct that has good restaurants, bars, cafes and speciality shops, delis, etc.
- Is your asking rent in the band of rent that a Professional person may use as a filter when looking for a property online?
- The features of the property - Most professionals will not look to rent a property that doesn’t have all the mod cons – particularly a good kitchen and bathroom.
- Well maintained and stylish outdoor areas for entertaining
- Good amount of storage
- Secure parking for one or more cars
It is also worth considering allowing pets as many professional singles and couples have, or want to have, a pet.
Many professionals will also want to personalise the property during their tenancy. So – are you open to allowing a Tenant to hang pictures or change a light fitting? Of course – this doesn’t exclude them from returning the property to it’s pre-Tenancy condition, but it may make a property more appealing to rent.
It is also worth considering the peak times for renting to professionals – i.e. putting your property on the rental market around traditional transfer periods for academics, teachers and public servants. If you are unsure about the make-up of people who live in the suburb – take a look at the ABS website – you will be amazed at the kind of information that you can glean from this…. http://www.abs.gov.au/websitedbs/censushome.nsf/home/communityprofiles
Occupational type, average salary, age demographics, etc. All things that will help inform you of any improvements or changes you make to your property to help you rent it to the best possible Tenant!