Marketing & Renting Your Property

Marketing & Rentng Your Property

A Better Way to Manage Your Property

Price, Presentation and Promotion

These three factors to marketing your property and attracting tenants are the key to ensuring that you maximize the price your property is rented for each and every time your property becomes available.

Price

 

It’s important to make sure your property is priced in a way that aligns with what’s going on in the current market. At Coral Sea Property Management, we can provide you with a Competitive Market Analysis report. This is a detailed list of all properties currently on the market that you are competing with for the current pool of tenants. Using this information and, just as importantly, our knowledge and feedback from inspections, we are able to set a price that is competitive with comparable offerings in the market place.

Price

 

It’s important to make sure your property is priced in a way that aligns with what’s going on in the current market. At Coral Sea Property Management, we can provide you with a Competitive Market Analysis report. This is a detailed list of all properties currently on the market that you are competing with for the current pool of tenants. Using this information and, just as importantly, our knowledge and feedback from inspections, we are able to set a price that is competitive with comparable offerings in the market place.

Presentation

Everyone understands the need to present the interior of a property well. A clean, freshly-painted property is always more appealing.
But the exterior is also important. Potential tenants may not even want to step inside your property if they don’t like the exterior. Simple things like mowing and edging the lawns, pruning shrubs and touching up chipped or faded paint can have a huge impact on the presentation of your property. This leads to greater appeal and more inspections by potential tenants.
At Coral Sea Property Management, we also have a 3-step maintenance approach that offers many services including regular yard maintenance, house-cleaning, and pool services.

Promotion

Your property must be promoted in a way that potential tenants are able to see it. To maximise your rental and ensure as many potential tenants as possible, at Coral Sea Property Management we promote widely:

  • When listing your property on real estate websites, we use highlight property functions to stand out and get the best exposure for your property.
  • Listing your property on multiple other websites including university and community websites as well as military and other targeted areas.
  • By using social media to promote your property.
  • Understanding what the suburb offers, schools, medical centres, libraries and so on, and promote the community as well as the property.
  • Getting ahead of the game – before your property even becomes vacant we start looking to promote your property to the next potential tenant.
Promotion

 

Your property must be promoted in a way that potential tenants are able to see it. To maximise your rental and ensure as many potential tenants as possible, at Coral Sea Property Management we promote widely:

 

  • When listing your property on real estate websites, we use highlight property functions to stand out and get the best exposure for your property.
  • Listing your property on multiple other websites including university and community websites as well as military and other targeted areas.
  • By using social media to promote your property.
  • Understanding what the suburb offers, schools, medical centres, libraries and so on, and promote the community as well as the property.
  • Getting ahead of the game – before your property even becomes vacant we start looking to promote your property to the next potential tenant.

Professional Photography And Virtual Furniture

 

At Coral Sea Property Management, we recommend professional photography because we want your property to be seen at its very best. With most property listings being on the internet, if you use bad or amateur photos, the prospective tenant may not even click an ad for further information. Professional photos stay with your property for life and can be reused every time the property becomes vacant. There are also some great new options to digitally add “virtual” furniture to room photos to present unfurnished properties in the best possible light. With professional photos now available from around the equivalent of three days lost rent, it’s a very sound investment.

Getting the Right Tenants

Without great tenants who pay their rent on time and look after your property, you don’t have an income and we don’t have a job. We aim to select the best possible tenants in the marketplace for your property. We then wow them with our service, so that we can retain them for as long as possible, providing you with great returns year after year.

Happy Tenants Are More Likely to Renew Each Year

Helping avoid costly vacancies, advertising and letting fees. Well-serviced tenants are more likely to accept regular (reasonable) rent rises if they believe are looked after fairly. They are also more likely to treat your home as if it were their own. Once selected, we ensure our tenants are treated with respect. We clearly discuss with them what expectations they should have of us and of you as their property owner.
We create a two-way relationship and demonstrating that we value our tenants. This lets us to hold them accountable to our expectations, for rent to be paid as required and the property to be respected.

Happy Tenants Are More Likely to Renew Each Year

Helping avoid costly vacancies, advertising and letting fees. Well-serviced tenants are more likely to accept regular (reasonable) rent rises if they believe are looked after fairly. They are also more likely to treat your home as if it were their own. Once selected, we ensure our tenants are treated with respect. We clearly discuss with them what expectations they should have of us and of you as their property owner.
We create a two-way relationship and demonstrating that we value our tenants. This lets us to hold them accountable to our expectations, for rent to be paid as required and the property to be respected.

Enquiry and Inspection

Our tenant selection process begins with the very first contact. The process of filtering suitable tenants begins right from the first phone call or email. We respond promptly to all enquiries on your property. We quickly filter the genuine prospects from the others with a series of strategic questions. People who fit the correct criteria are offered an immediate escorted inspection. We never hand out keys.

The personal inspection allows us to meet our prospective tenant and begin to build case for, or against, the applicant. We begin to establish the suitability of the potential tenant, all before even getting an application. This is also an opportunity for us begin to educate the prospect on our expectations and standards. If deemed suitable the tenant is offered an application to complete and return as soon as possible.

The Application

We qualify the tenant again when the application is submitted, educate further on our expectations and standards, and only now begin normal processing procedure. Where possible, the same person who carried out the inspection processes the application. They have already begun to build a personal relationship and will have a clearer understanding of the applicant’s suitability. We apply maximum effort at this stage to ensure only the best possible tenants make it into our properties. This helps avoid the burdensome cost of removing and replacing unsuitable tenants. While not 100% foolproof, experience shows that filtering out the majority of unwanted tenants before they get into your property is the best method. Of course, we carry out all the normal checks including:

  • Tenancy default database check (TICA)
  • Evidence of Income
  • Minimum 100 Points ID
  • Previous rental references
  • Personal and work references

We take responsibility for dealing with any approved tenant that we place in your property. We need to collect the rent, hold them accountable and then remove them if something goes wrong. You, our property owner, hold us responsible for this decision. This ensures we will be the strictest judge of who we allow into your property!

The Application

We qualify the tenant again when the application is submitted, educate further on our expectations and standards, and only now begin normal processing procedure. Where possible, the same person who carried out the inspection processes the application. They have already begun to build a personal relationship and will have a clearer understanding of the applicant’s suitability. We apply maximum effort at this stage to ensure only the best possible tenants make it into our properties. This helps avoid the burdensome cost of removing and replacing unsuitable tenants. While not 100% foolproof, experience shows that filtering out the majority of unwanted tenants before they get into your property is the best method. Of course, we carry out all the normal checks including:

  • Tenancy default database check (TICA)
  • Evidence of Income
  • Minimum 100 Points ID
  • Previous rental references
  • Personal and work references

We take responsibility for dealing with any approved tenant that we place in your property. We need to collect the rent, hold them accountable and then remove them if something goes wrong. You, our property owner, hold us responsible for this decision. This ensures we will be the strictest judge of who we allow into your property!

Approving the Application

Many property owners are unaware that this is one of the most costly areas within property management. Other agents can take as long as 2-3 weeks to process an application. This results in hundreds or thousands of dollars of preventable losses to owners. We ensure all submitted applications are processed within 4 hours. Plus, we guarantee our tenants an answer within a maximum of 24 hours.

This means no lost money for you by having a potential tenant waiting days or weeks for an answer, when you could be collecting rent. It also means a perfect tenant does not go elsewhere because they are frustrated waiting for an answer. We make the decision quickly, on your behalf, in accordance with your instructions. We do not waste your time or the time of applicants. In many cases, the first our owners know of their new tenant is a congratulations phone call or email informing them of their new tenant and advising them that “the money is in the bank”.

If you’re serious about your rental property and serious about finding good tenants, then you need a good property manager getting tenants in with minimal delay. Every week your property is vacant you lose 2% of your yearly rental yield, and we don’t think that’s sustainable.