When it comes to renting out your property, it’s not just about listing it and hoping for the best. To achieve quick and successful results focus on four key areas—Position, Presentation, Peak, and Price. Get these right, and your property will attract tenants in no time. Let’s unpack each of these P’s to see how they can work for you.
1. Position – Location, Location, Location
Where your property is located can make or break its appeal to potential tenants. Tenants are not just looking for four walls and a roof—they’re looking for convenience, comfort and a lifestyle.
- Is your property close to transport hubs like bus stops, train stations, or motorways?
- Is it in a good school zone? Families, in particular, prioritise this.
- Is the area sought after with amenities like cafes, shops, parks, or gyms nearby?
These are all major factors that influence how quickly a property will rent. If your property has a great position, make sure you emphasise this in your advertising! Highlight nearby schools, transport options, and community perks—this is what tenants are searching for.
2. Presentation – First Impressions Matter
Tenants want to envision themselves living in a clean, tidy, and well-maintained home. If your property looks dirty or neglected, even at the right price and location, tenants will hesitate.
Here’s how to make sure your property shines:
- Road Appeal: Is the front garden tidy? Does the property look welcoming from the street? A quick tidy-up of the garden, fresh paint, or a clean driveway can make all the difference.
- Maintenance: Fix what’s broken! Dripping taps, cracked windows, or peeling paint will only turn tenants away.
- Cleanliness: A sparkling clean property shows you care. Consider a professional cleaner to get your home spotless before viewings.
Remember: A property presented well is a property that rents well.
3. Peak – Timing is Everything
Timing can significantly impact how quickly your property rents.
- January and February are traditionally the peak months for finding tenants. The new year brings a surge of people moving for jobs, school zones, or fresh starts.
- Winter and the weeks leading up to Christmas are typically slower. People are busy with holidays, budgets are tight, and moving house is often the last thing on their minds.
If you’re listing during slower months, don’t panic—just be strategic. Be ready to market aggressively, make viewings flexible, and ensure your property is priced right (more on that below).
4. Price – Is It Competitive?
You can get everything else right, but if your property is overpriced, it simply won’t rent. Tenants are more savvy than ever; they research and compare listings. If your property doesn’t stack up against similar homes, you’re setting yourself up for a slow rental process and weeks with no rent.
How to Check If Your Price Is Right:
- Visit platforms like Trade Me to compare similar rentals in your area. It’s also a good idea to check these listings regularly, as market conditions can change quickly, impacting rental demand and pricing.
- Check Market Rent data provided by Tenancy Services to understand current trends.
- Be honest: Does your property offer good value compared to others? If not, consider adjusting the price.
It’s also important to remember that market conditions change. Even though you may have achieved a higher rent the last time you rented the property, this doesn’t mean the same will happen now. Sometimes you might find you can get even more rent than before, but there will also be times when you may have to accept less due to changes in demand and competition.
Tip: If you’ve had minimal inquiries after seven days on the market, it’s a strong sign the price is too high.
Final Thoughts
If your property isn’t renting as quickly as you’d hoped, take a step back and run through the Four P’s: Position, Presentation, Peak, and Price—these are the key factors that determine how quickly your property will attract tenants.
- Position – Are you highlighting the location’s benefits?
- Presentation – Is the property clean, tidy, and well-maintained?
- Peak – Is it the right time of year? Adjust strategies if you’re listing in quieter months.
- Price – Is it priced competitively against similar properties?
Get these four elements in alignment, and you’ll significantly improve your chances of securing quality tenants quickly. Happy renting!
Need Help Renting Your Property?
Check out our Tenant Finder Service or give us a call on 09 630 2655 to find out more.
