Good tenants more valuable than money, landlords say
Landlords would rather find the best tenants than the best price for their rental property, a new study has found.
Realestate.com.au’s Landlord’s Need and Wants Report has found that 75% of landlords consider finding the right tenant a higher priority than getting the highest rental income for their property, News Ltd has reported. Landlords are also willing to be patient in their search for a good tenant, with 82% saying getting good tenants is more important than filling a property quickly.
Many landlords said they had been burned by bad tenants in the past, with two-thirds saying they’d had previous issues with tenants, News Ltd said.
The survey also found the average age of landlords was becoming younger. The most common age to start investing was 25- to 34-years-old, the study found. Thirty-three per cent of landlords said they invested before purchasing their first home as owner-occupiers.
Landlords identified their ideal tenants as those who paid the rent on time and treated the property as though it was their own.
“Landlords don’t want anything that’s going to damage the value of the property. So simply treating the home like it is your own, keeping it clean and being mindful of neighbours, can help create a good landlord/tenant relationship,” REA Group chief economist Nerida Conisbee told News Ltd.