Purchasing an apartment as an investment can be an amazing financial opportunity, providing you with a steady stream of income for many years.
But owning an investment property is more than just making the purchase and staying on top of property maintenance – it’s about finding the right tenants to fill your property. The right tenant will respect your property and treat it as a home, they’ll pay rent on time and help manage upkeep of the property.
Having a good tenant compared to a bad tenant will mean the difference between success and expense.
What will your tenant at Paradiso Como look like?
Young professionals – Young professionals are in their 20’s and 30’s, they don’t have a family yet and perhaps it’s not on their radar.
At this stage in life they value their lifestyle and having fun which is perfectly suited to life at Paradiso. They like being able to walk to a range of eateries, bars and shops but they also enjoy being slightly removed from the traffic dense likes of Northbridge and the Perth CBD. As they’re in professional roles they’re likely working in and around the CBD and living near their work is a high priority for them right now.
Students – More and more students are finding their way to Como because of its proximity to Curtin University. Students will range from 18 – later 20’s and might even be here from oversees. They’re also likely to be studying for an average of 3 years which means they probably don’t want too much upheaval during this period of their life therefore the stability of apartment living tends to suit them perfectly.
Young families – A range of young families might also be looking to call Paradiso home. Not only does the area have access to a large range of amenities and services, Como also plays hosts to some great schools including Penhros College and Como Primary School.
Being able to walk to and from school is a priority for many families and that’s certainly a request Paradiso can accommodate.
How do you attract the ideal tenant?
Furnished apartment – A furnished apartment makes life that much easier for a tenant. This especially works well for those in corporate roles and young professionals living active lifestyles who simply don’t have time to go through the pain of moving!
Flexibility – Try being flexible with your terms. Of course, your house is your house, but flexibility can go a long way in attracting the right tenant and making sure you get off on the right foot.
Take pets for example. Yes, allowing pets does come with some certain risks however saying yes might mean you have a much larger pool of people to pick from which may lead to finding the perfect long-term tenant with a low impact pet.
Include extras – Everyone loves something for nothing and the same is true for new tenants. Including extras such as washing machines, dryers, dishwashers, parking spots, pools and gyms are all highly attractive elements for any tenant. Thankfully all the above are included when you purchase an apartment at Paradiso making this one less thing for you to worry about.
Be responsive – Good tenants will want a landlord that leaves them alone but when they’re needed are all ears. Make good communication a priority from the onset and you’ll be setting a good precedent of what a tenant can expect from you. This will also let the tenant know when something goes wrong, you’re there to help.
Location, location, location – This is one that we’ve taken the work out of for you. Tenants put a lot of thought into location and Paradiso is in an amazing location. Close to public transport, a range of great eateries, places to shop and schools Como is truly an uncovered gem. Remember good tenants are attracted to good locations.
Construction at Paradiso Como is well underway and scheduled for a 2021 completion. If you’d like to learn more about maximising your property portfolio and purchasing your next investment property contact our sales team today to view our extensive range of options.