Renting out an investment property can be a highly lucrative way to better manage your capital and grow your wealth over time. However, one of the biggest issues you’ll face is finding consistently great quality tenants.
Here are our 5 expert tips for finding the ideal tenants:
1. Offer a great property.
2. Be a great landlord. Your reputation proceeds you and tenants will use online record searches, review sites and talk to neighbours. Just as you’re vetting tenants, tenants will and should vet you.
3. Complete a tenant background check. Lodge offers this for $25 in 90 seconds and call their employer as part of the process.
4. Cast a wide net. While it only takes one great tenant to lease to, having several to choose from helps find the right tenant.
5. Be flexible – allow a dog, let a migrant pay rent upfront.
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