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Property managers tips for landlords

29 August 2011

Rent.com.au conducted a national survey of renters in June 2011. The following results indicate there is opportunity for landlords to take into account these findings when considering the lease conditions for their rental property.

Australian renters are seeking greater flexibility in their lease conditions according to the latest Rent.com.au National Renters Survey.

"This survey highlights key issues and lease conditions renters want, highlighting their desire to make the property they rent more of a home, rather than just a place to rent," said Rent.com.au CEO Mark Woschnak.

When it came to wanting to make their rental more of a home, 71.8% of renters wanted the ability to hang their own pictures, and 56.6% wanted to be able to modify the garden. A good kitchen was also highly considered by renters (79.6%) as important in making their rental a home.

"One of the standout responses to the survey was that 71.4% or renters want to be able to have a pet, with 60% responding that this would influence which property they rent," he said.

"Often landlords are quick to dismiss allowing pets as they consider the potential for damage to their property. However most pet owners are responsible, and a landlord with a hard to tenant property could improve their ability to attract long term tenants and often on more favorable rental terms by allowing pets, where pet bonds can be used to help protect landlords from potential damage."

Other key finding of the survey was that half of the renters surveyed took 12 weeks or more to find a suitable property to rent, with over 60.3% finding it difficult to inspect and apply for properties, showing a greater need for flexibility by landlords and property managers to accommodate tenants personalizing their rental homes.

"Clearly the era of renting has emerged with 71% of respondents either unable to, or not wishing to purchase a property. Therefore these renters become long term tenants for those landlords prepared to be more flexible on allowing modifications to their rental property," Mr Woschnak explained.

Landlords wishing to maximize their rental returns would be wise to consider these increasing trends and adapt their mindset to provide flexibility in their lease conditions.

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