Industry Insights: How We Lease Your Property

Industry Insights: How We Lease Your Property

As a landlord, finding a property manager to source the right tenant for your asset can be a challenge. Where do you start – and how do you know that your property manager is the right fit with the right credentials? In today’s blog, Think Property & Co walk you through what it’s like to lease with our team.

When Think Property & Co recently took management of an investment property from another estate agency, there were no professional photos provided to us for marketing purposes. When it comes to first impressions, a picture speaks a thousand words. You’ve only got one real chance to make an impact on tenants – and poor quality photography immediately puts landlords at a competitive disadvantage. Professional photography encourage more prospective tenants to your open for inspection – allowing you a bigger pool of tenants to select from and enhanced likelihood of leasing swiftly. So if you’re wondering whether professional photography is worth investing in – rest assure, it is!

Working our magic as always, Think Property & Co quickly arranged for our photographer to execute a micro-shoot of five images for less than $200. Sorted! After a quick phone call to the tenants to kindly ask them to fluff the cushions and give the place a once-over, all was in order.

Before we began promoting the property, Think Property & Co carried out a new rental appraisal to bring it into line with current market conditions. The result? An extra $25 per week for the landlord. Once that was settled and the photos were in, the property was ready to go live with an open time.

Ring, ring – before long the phone was ringing off the hook with prospective tenants; 22 of them, in fact – all keen to get their hands on the property.

Open For Inspection Day

Before we know it,  open for inspection day has rolled around! Martine arrives at the property early to make sure everything is in order, and spots groups lingering around the front entrance keen to take a look. Never one to keep a potential tenant waiting, Martine starts the open early at 10.15am, and was greeting all 18 groups until 10.55am, despite the open only being scheduled from 10.30-10.45am! Phew!

Think Property & Co aim to make open for inspections comprehensive experiences, ensuring all interested parties have the chance to enjoy all that the property has to offer. From the car space and common areas to laundry facilities and storage space – we’re committed to showcasing every property in the best light possible.

Within a few hours, we received 8 quality applications via 1form – after just one open for inspection! With a number of groups keen on the property, some offered the landlord extra weekly rent to secure the property –  though we do not encourage rental bidding. Something unique that we do enocourage is for prospective tenants to include a cover letter and a photo of themselves with their application. This gives our landlords a better understanding of who they are and whether they would be suitable tenants – in short, it’s great for context.We have found that a greater sense of tenant-landlord connection fosters positive relationships throughout the life of the tenancy, too – it really removes some of the anonymity from rental transactions.

The landlord in question chose a couple from Brisbane to lease their property, and after a four-day vacancy period (which was the Easter long weekend), the property was leased and tenanted the following Tuesday! Once a property with multiple applications is leased, we look to offer the remaining qualified tenants priority access to other homes in our network to save our landlords costs on marketing their property.

If you’re a landlord looking for a dedicated boutique agency to give your investment the care and attention it deserves, get in touch with Think Property & Co to arrange a consultation. We’ll discuss your property, your investment goals and how we can help you maximise your property’s potential.

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