Choosing a property based on the profile of your ideal tenant is a good way to ensure you’re well-placed to get a steady rental income with a low risk of vacancy. Different tenants require different amenities and services, so take these ideas into consideration when matching a property to your ideal tenant profile.
- Families will look for access to schools, public transport and shopping areas.
- Tenants with Pets – Although at first thought, you may not want to deal with a tenant with pets. But because properties that do allow pets are in short supply, you will probably find that people with pets are highly respectful of rules and regulations of having a pet in your property. They also tend to be longer term tenants.
- Young Professionals look for public transport, cafes and restaurants a business precinct and lifestyle features such as the beach, movie theatre and shopping centre.
- Multiple families – as with single family dwellings, multiple families living together will want access to schools, public transport and shopping areas. As there is more than one family to consider, these tenants are likely to be longer term and reliable. If you are considering a property with dual family living potential ensure you consider access to these amenities to increase your chances of success.
Regardless of your ideal tenant, ensure thorough checks are carried out at the interview stage. Consult your Property Manager to help you navigate this important part of the investment process.