Tricks to get more applicants in a slow rental market

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While some cities in the country have a buoyant rental market, like Sydney, other cities like Brisbane and Adelaide are suffering, due to the high availability of rental properties and limited demand. 

Your conditions:

Typically, your only lever when you negotiate the conditions of your property is the price. Your tenant wants low, you want high, and it’s a win-lose situation for both. However, there are other things you can offer to make the property more appealing to tenants without touching the price and losing money. 

A new startup called Trustbond is enabling tenants to replace the rental bond with a surety bond that gives landlords protection without needing to freeze cash. This allows landlords to significantly reduce the outlay for tenants.

It is attractive to tenants because it gives them more cash-flow on day-one and landlords still get the same exact protection.

Between 2 properties of similar characteristics, one offering Trustbond and other one not offering it, which property do you think the tenant will take?

Your reputation:

The tenancy process has always been asymmetric in nature. The landlord requests reputational information from the tenant until they are satisfied. However, in a slow market, tenants have choices available to them. How can you differentiate?

There are as many tenant horror stories, as there are landlord horror stories, so what about showing your own reputation to the tenant? Proving that you are a good landlord and will take care of your tenant can go a long way. You can use platforms like Trustbond where you can share landlord reviews to show you are a trustworthy landlord on your own ad. Advertise yourself!

For more information, watch the video below or go to Trustbond.