Snagging a high-quality, long-term tenant is the golden ticket to keeping your investment property as profitable and stress-free as possible.

A good tenant pays the rent on time, treats the property like their own, flags potential maintenance issues before they become costly, and keeps the property clean. Spending time and money on a property to help attract the right tenants is one of the best investments a landlord can make.

First impressions count

Giving your property a spring clean is essential – especially if the last renters were in residence for a longer period of time. If your rental property presents well, this sends a message that you take great pride in the house or apartment, and that you’ll respond in a timely manner to future maintenance or repair requests. Consider offering desirable amenities that can set your rental property apart from others. A high-speed internet modem, plates, cutlery and modern appliances including a heater are examples of affordable touches that can attract quality tenants seeking convenience and comfort.

Most tenants, especially those with young families, will welcome a garden or yard, but not if the outdoor spaces are in a scruffy condition. Cull the weeds, mow the lawn and plant some fresh shrubbery. The aim is to help prospective tenants visualise happy times with the family playing or barbecuing in the garden. Likewise, the front garden is the first aspect a property a tenant sees when they arrive for an open house – in a competitive market you can’t afford to turn-off a potential tenant before they walk through the front door. 

Fair rent and careful screening

Research the rental market to make sure you are offering a competitive and fair rent price. Ian Keightley, Head of Operations, Raine & Horne New Zealand said: “Asking too much may deter quality tenants, while discounting will prompt questions about what is wrong with the property.

“If you strike a balance between the correct market rate and the value of having a quality tenant, you are more likely to find a tenant who stays for longer and minimise periods when the property is empty and making no return.”

Ian added, “When marketing the property, we advise investing in professional-quality photos that showcase its best features.”

“It also important to carefully screen potential tenants, which is where an experienced Property Manager such as Raine & Horne is worth their weight in gold. A Property Manager will contact a rental applicant’s referees to ensure they are reliable, responsible and likely to fulfill their lease obligations,” Ian confirmed.

Think long-term and reward

Consider offering a long-term lease if you find a quality tenant who likes the idea of stability and commitment, Ian said, “Long-term leases can be a win-win for both parties and save the landlord time and effort in finding new tenants.

“If your tenant takes good care of your property, acknowledge this and consider offering a small reward to encourage them to maintain this behaviour and stay longer.”

Whether you want to sell buy or rent a property, don’t hesitate to contact your local Raine & Horne office.