Helpful advice on how to be a great landlord to your renters

YOU cannot have a portfolio of successful investment properties without good tenants.

As a landlord, it can often feel like good tenants are few and far between – and when you do nab a good bunch of tenants, they often don’t stay long. So, how do you find good tenants? And more importantly, how do you motivate them to rent your property long term?

It’s easy to lay blame on tenants when a rental agreement doesn’t work out, but the reality is, you won’t get reliable tenants without being a good landlord.

Here are some easy ways that you, as a property investor, can make the lives of your tenants a little easier.

Stay up-to-date with maintenance

If your tenants keep the property clean, pay their rent on time and are respectful of their neighbours, it’s not unreasonable of them to want repairs or maintenance completed in a timely manner.

Maintenance is a hot topic amongst landlords and renters – and while a tenant’s requests may seem unreasonable to you, it’s best to meet them halfway.

Put yourself in their shoes – would you also be cranky when your air-conditioning breaks in the middle of summer?

Have a sense of flexibility

If you have a loyal tenant that pays their rent on time, keeps the property tidy and is polite to the neighbours, it’s not unreasonable for them to want a little bit of flexibility during their tenancy.

Perhaps they want a pet, or want to sign a 12-month lease instead of a six-month agreement.

Allowing your tenant a small sense of flexibility and freedom will guarantee that they want to re-sign their lease each time their agreement is up.

Hire an REIQ accredited property manager

While it may seem more affordable to manage your own property, the reality is you can save more time, money and stress by hiring a professional property manager.

The wealth of industry and legislative experience a property manager possesses is second-to-none, and the level of mediation they provide between you and your tenants ensures emotions won’t interfere with any conflict or negotiations that arise.

Hiring an REIQ accredited property manager will mean that as a landlord, you get more bang for your buck.

A membership with the REIQ ensures they have maintained their professional development, as the REIQ requires its members to complete 100 points of continuing professional development every year.

This is how you can guarantee that your property manager takes their job seriously, and ensures they are up-to-date with any industry or legislative changes.