7 important considerations to minimise the vacancy period between tenancies.

Whether you’re personally managing your investment property, or have engaged the services of a professional, these are 7 important considerations to help reduce the vacancy period between tenancies.

1. PRE-VACATE PROCEDURE

Educating and supporting the tenant is vital to a successful vacate process. After a tenant provides notice to vacate it is important the managing agent/owner provides guidance and advice to the tenant on how to present the property for the outgoing inspection. At Heimat, our goal is to ensure the tenant leaves the property in the correct condition so their bond can be refunded in full, this process includes a pre-vacate inspection, and if necessary referrals to a reputable cleaner, gardening and handyman service. If the property is to be re-advertised for rent, the tenant is educated on how to best present the property for open homes and inspections. This process helps to minimise the vacancy period between tenancies.

2. PROFESSIONAL PHOTOGRAPHY / 3D TOURS / VIRTUAL FURNITURE

When advertising your property on the internet it is imperative to portray the property in the best possible way to attract interest from prospective tenants. A small one –off investment in professional photography and a 3D Tour, will help attract better quality tenants and give you more choice in selecting the right tenant for your property. The inclusion of virtual furniture in photography of an unfurnished property enable prospective tenants to visualise the property furnished. At Heimat, we always use professional photography, as it has proven to significantly reduce vacancy rates.

3. INTERNET PRESENCE 

Now you have invested in professional photography, it should be highly visible on all the major real estate websites. At Heimat, we provide a premium internet package, including 8 websites and exclusive rights to Realestate.com.au “Exclusive Showcase”. Our Internet marketing strategy ensures your property gets the maximum exposure it deserves which results in faster leasing and minimal vacancy.

4. PROPERTY PREPARATION/PRESENTATION

First impressions are crucial. If your property is looking its best, it will attract interest from prospective tenants and give you the best opportunity to secure a quality tenant with minimal vacancy. If the property is vacant it should be thoroughly cleaned, ready for immediate occupancy. If the property is still occupied, the managing agent must educate the tenant on property presentation and cleanliness to ensure a successful open home.

5. PROPERTY IMPROVEMENTS

Could your property do with an upgrade or new inclusion? Often a coat of paint, new carpet, installation of ceiling fans, air-conditioning and built in robes will have a significant affect on the appearance and features of the property. These improvements will give your property the best chance of securing a quality tenant and reduce the length of time on the market.

6. OPEN HOMES AND PRIVATE INSPECTIONS 

Having a proactive agency who maximises all opportunities to show prospective tenants your property will result in faster leasing. At Heimat, we have a dedicated Leasing Consultant who will arrange private inspections during the week and conduct 20 minute open homes on Saturdays.

7. FAST AND ACCURATE APPLICATION PROCESSING

It is imperative that tenant applications are fully processed the same day they are submitted. Often quality tenants apply for multiple properties so time is of the essence. At Heimat, we conduct thorough application checks, including previous rental history, employment, National tenancy background checks and identification check. Only suitable applications will be presented to the owner for approval.

If you are currently a self-managing landlord or are experiencing longer than average vacancy rates with your current agency, please contact Heidi or Matt on 9477 3500 or via hello@heimat.com.au to discuss how they can assist you with the Management of your investment property. www.heimat.com.au