Choose the right prop­erty to at­tract the right ten­ant

Pilbara News - - Property - Samantha Jones Samantha Jones is a rep­re­sen­ta­tive of the Real Es­tate In­sti­tute of West­ern Aus­tralia.

It’s no se­cret that the WA rental mar­ket cur­rently favours ten­ants, so if you’re look­ing to pur­chase an in­vest­ment prop­erty it’s im­por­tant to se­lect a rental that appeals to your tar­get mar­ket.

Un­like pur­chas­ing your own home to live in, buy­ing an in­vest­ment prop­erty needs to be ap­proached with your head, not your heart.

Fea­tures you may value in your own home may not nec­es­sar­ily ap­peal to prospec­tive ten­ants.

You need to think like a ten­ant and buy a prop­erty that meets their needs.

As with any prop­erty pur­chase, lo­ca­tion is para­mount. This is es­pe­cially the case when buy­ing an in­vest­ment prop­erty.

A com­mon ten­ant re­quire­ment is prox­im­ity to ameni­ties. Be sure to buy in ar­eas that are close to key ameni­ties such as shops, trans­port and schools. It’s also a smart idea to seek lo­ca­tions that of­fer a good lifestyle.

Give con­sid­er­a­tion to the in­ter­nal layout of the prop­erty you choose to in­vest in.

Things to con­sider when as­sess­ing the home in­clude a good sep­a­ra­tion be­tween liv­ing ar­eas and bed­rooms, the num­ber and size of bed­rooms, whether there is more than one bath­room and if there are op­tions for stor­age.

As our cli­mate is warm and favours out­door liv­ing, it’s a good idea to fac­tor in some kind of out­door area into the rental home you pur­chase.

Whether it’s a bal­cony, a court­yard or an al­fresco area, out­door liv­ing op­tions are at­trac­tive.

While many ten­ants value out­door liv­ing space, it’s worth­while choos­ing a home that is low main­te­nance.

Gar­dens may look beau­ti­ful, but they re­quire a lot of up­keep so it’s best to in­vest in prop­er­ties with low-main­te­nance out­door ar­eas.

Be­ing able to of­fer ten­ants a des­ig­nated park­ing space is very at­trac­tive.

A lack of park­ing op­tions is an in­con­ve­nience to ten­ants, so it’s ben­e­fi­cial to look for in­vest­ment prop­er­ties that pro­vide ten­ants with a se­cure space to park their car.

In or­der to make your home stand out, it’s worth en­sur­ing the prop­erty has some at­trac­tive ex­tras such as air-con­di­tion­ing, qual­ity ap­pli­ances such as ovens, dish­wash­ers and cook­tops, good con­nec­tions for in­ter­net and Wi-Fi. A pet-friendly prop­erty will also ap­peal to a wider se­lec­tion of ap­pli­cants.

Pic­ture: Si­mon Santi

Think like a ten­ant when look­ing for an in­vest­ment prop­erty.

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