Is Your Rental Property Vacant? Here's How to Find a Tenant

Why Vacancies Hurt Your Bottom Line

Having a vacant rental property can be frustrating for landlords. Not only does it mean lost income, but it can also lead to lost revenue whilst you address maintenance issues which may deter potential renters. Finding the right tenant quickly is essential. Here are some effective tips to help you fill your vacancy and keep your property in top shape.

Enhance Your Property's Appeal

First impressions matter. Ensure your property stands out by making it appealing to potential tenants.

Clean and declutter — Thoroughly clean the property and remove any clutter. A fresh, tidy space helps tenants picture themselves living there.

Consider minor repairs — Fix any visible issues like leaky taps or scuffed paint. These small updates can make a big difference in how potential tenants perceive your property.

Use the Rentomise task list — Once you log in to Rentomise, you'll find an inbuilt list of tasks to help get your property ready for renting. This feature guides you through preparing your property, ensuring you don't overlook any essential steps.

Use High-Quality Listings

When advertising your property, ensure your listings are eye-catching and informative.

Professional photography — High-quality photos can significantly enhance your listing. Bright and appealing images attract more views.

Detailed descriptions — Write a clear and detailed description of the property, highlighting its features, amenities, and neighbourhood benefits.

Leverage online platforms — Utilise multiple online platforms, including social media, classified ads, and rental websites to increase visibility.

Offer Competitive Rent and Incentives

Research the rental market in your area to determine a competitive price. You can also consider offering a small rent discount, shorter lease terms, or flexible move-in dates to attract a broader range of tenants. Another key decision is whether you will focus on long-term or short-term (nightly) rental offerings.

Engage the Right Services

Finding a tenant can be time-consuming. This is where Rentomise can help. Here are a few options to consider.

Hire a property manager to find a tenant — Rentomise connects landlords with property managers who can find tenants on your behalf. This allows you to outsource the tenant search but then self-manage other ongoing management tasks, saving you money and maximising your rental returns.

Find your own tenants — If you prefer to find the tenant yourself but then outsource the ongoing property management, Rentomise can assist you to do this. Rentomise provides free tools and tips on how to do this using the most popular online rental advertising platforms. Again, this helps save you money and maximise your return.

Get competitive bids — Alternatively, you can use Rentomise to receive competitive bids for traditional full-service property management. This ensures that you're getting the best deal while having peace of mind with all aspects professionally managed.

Conclusion

Finding a tenant for your vacant rental property doesn't have to be daunting. By enhancing your property's appeal, utilising effective advertising strategies, engaging with Rentomise for professional help, and thoroughly screening applicants, you can turn your vacancy into a thriving tenanted property.