What are tenants looking for in a property?
By Advantage Property | 15th Dec 19
When buying a rental property, investors are mainly looking for two things, being rental return and capital growth.
Renting a property is usually the most stressful time for an investor as they have no funds coming in to assist with the mortgage each month. There are many things that investors can do to improve their chances of renting their property faster, but it also assists if you know what tenants are looking for. (Read more about setting accurate rental prices to improve vacancy rates and using professional photography to market your rental property)
Realestate.com.au just published an article on this subject based on the search criteria entered by the thousands of tenants searching each week online for rental houses, and the results were quite interesting.
It was not surprising that tenants from different states wanted different things, when you consider that Australia is very different from State to State. So it is valuable for investors to know this information should they looking to invest in different states and diversify their portfolios.
Pools were the most popular home feature for renters searching for property in every state except for Tasmania and ACT, according to realestate.com.au keyword search data.
As we mainly concentrate on the Victorian property market, we have listed below realestate.com.au top ten tenant requirements:-
NRAS (National Rental Affordability Scheme)
Frank Valentic, Managing Director Advantage Property Consulting and buyer’s advocate on Channel Nine’s The Block, says he’s not surprised to see renters craving properties with pools this spring.
“Australians have a very outdoor focused lifestyle with most states experiencing warm weather for eight to nine months of the year,” Valentic says.
“Also, renters aren’t as concerned about the long-term maintenance of the pool. Owner-occupiers may see it as more work than play.”
To read this full article, click here.