Renting a property out as a property investor is a major event in life, this is the investment you’re wanting a financial return on.
It’s important to have the right tenant look after your property and equally important is having a good relationship with the property managers looking after the property on your behalf.
Here is the criteria Adelaide Property Managers from Salvan use when selecting a tenant:
A Secure Financial Position
When looking at applicants to be a tenant, property managers from Salvan check to see if the prospective person/persons have the capacity to pay the rent each fortnight and on time.
Does the tenant have a sound job with good references? If not employed, can the tenant show they have paid the same or higher rental amount on time previously, with at least 6 recent months supporting bank statements.
At Salvan Property Management Adelaide, we understand property investors often have a mortgage, and must pay the home loan, council rates, insurance etc. so it’s important to Salvan that the rent can be paid by the prospective tenant on time and in full.
Past History Is A Good Indication Of Future Action
One of the first things property managers from Salvan Property Management look for when selecting Tenants on behalf of property investors are the contact details of the previous property manager or landlord.
The property manager for that property will ring these references to find out if the rent was paid on time, what kind of tenant the applicant was and if there were any breach notices issued?
As a property managers, it’s very important to have a tenant with a good payment history, as this likely affects what will happen moving forward. Having a tenant constantly late with rent payments creates more unnecessary work.
Reliability & Honesty
When meeting a prospective tenant for property investors, we note whether the person/persons were on time and makes a good impression. With experience, Salvan property managers can sum up a persons character in the first 10 seconds of meeting them. If they impress us, we’re confident they would impress you.
Property managers from Salvan Property Management Adelaide will check all references and also check the applicant against the national tenancy database to see if there has been any previous negative history that needs an explanation.
Good Communication Skills
When interviewing a prospective tenant to see if they will make for good tenants, we ascertain how they articulate their responses and respond to emails. If successful, and have a maintenance issue, we want to feel comfortable they will be readily contactable, be rational; not emotional and don’t demand or threaten.
Cooperation on all sides of the fence is key to a great relationship with property managers.
Keep The Property Clean
Lastly Salvan property managers will check to see if the prospective tenant received their full bond back on the last property they rented. If not it was probably due to not keeping the place clean, or because of damage to the property that was not fixed.
If past property managers have noted they walked into a dirty property that smelt, during a routine inspection, Salvan property managers will be reluctant to experience the same!
Property managers and property investors love clean people who will keep the property clean and tidy! As property investors, we at Salvan Property Management Adelaide understand you would like long term tenants that keep the property clean and tidy.
By following these 5 simple steps, your property will grow in capital value and you’ll receive reliable income while being looked after by Salvan.
Natalie Salvati (Principal of Salvan Property Management) is a registered Real Estate Agent (RLA 276287) looking after metropolitan Adelaide property investors.