How we achieve faster leasing of your property.
Did you know there's an opportunity to make an additional month's rent each time a rental agreement ends? Our proven strategy finds you the best renters quickly and even leaves you with some extra cash in your pocket.
Advertise the property as soon as the Notice to Vacate is received
When a renter gives the notice to vacate, they must provide a minimum of 28 days written notice. Most agents will wait for the renter to vacate before looking for a new renter, leaving the property vacant for a large portion of the rental campaign, leaving you out of pocket, with an empty property generating no income. At Dynamic Residential, we do things a little differently so that our rental providers can reap the benefits.
Looking for a renter doesn’t just solely involve advertising a property, it involves providing access to the next prospective renters, as most individuals want to see their next home, first hand. We are in the business of building relationships and tailoring property solutions to each individual, whilst at the same time we’re in the business of maximising the best results for our clients.
So what generally happens when a renter gives notice to vacate?
In most cases, not a lot. Property agents are notorious for being busy and handling many properties at any one time, so if there's someone still living in the property, they usually just let sleeping dogs lie until they really need to do something about it.
This then leaves the property vacant for a large portion of the rental campaign, leaving you out of pocket, with an empty property generating no income. Mortgage repayments don't stop, so it is natural that a renter vacating can cause some stress! Luckily, Dynamic is here to take away this stress and give back to our valued clients.
Our expert team get to work and advertise the property immediately. How do we do this so quickly? We have all your property details, images and previous marketing collateral on file that we can easily access in a moment. We then use this information to quickly create a strong advertisement.
Explore the highest rent at the start
To give your property the best chance of attracting the highest rent possible, we conduct a market appraisal by researching the current rent for similar properties in your area, to ensure the rent we’ll be asking matches the market.
We first advertise at a higher rent to test the market and get the best price, with structured adjustments scheduled to ensure we source the best renter at the highest rent the market will support. Starting sooner allows a window to test the market instead of being conservative during a vacancy period.
Database
The first thing we do is advertise your property directly to our large database of renters who have recently enquired on similar properties in your area, leveraging our expertise in property management. By matching your property to the requirements of the renters on our database, we are putting your property right in front of the people who are looking for it. You might be surprised to learn that most other rental agencies don’t do this.
Better advertising
Dynamic Residential advertisements look better and reach more tenants than other agencies’ ads.
We use professional photography instead of photos snapped on an iPhone like other agents, and the text is all written by a professional copywriter. We advertise your property on 5 websites, instead of the standard 1 or 2. And on realestate.com.au, we only use Premium listings (the bigger ads) to ensure your advertisement appears on the first few pages and spends more time at the top.
Unlike our competitors, we also include a 3D tour of your property, which encourages user engagement and more time spent on your ad.
Run Inspections immediately
As soon as we receive enquiries for your property, we'll take prospective renters through to inspect the property as early as possible. This is often while the property is still tenanted and allows us to secure a new renter before the existing renter moves out.
We Lease Properties Faster!
Does your Property Manager have a proactive tailored leasing plan? - Unlikely!
Is your team waiting for the property to be vacant? - We Don’t!
Does your Property Manager have access to a database of potential tenants? - We Do!
We lease properties on average within 20 days!
Let renters choose when they will inspect
We use an easy online booking system that puts prospective renters in control and allows them to determine the inspection day/time to be at a convenient time for them, getting more people through the door. We’re prepared to get tenants through your property, up to 5 or 6 days per week if required.
Since we began allowing potential renters to do this, we’ve seen the following trends:
- On average, 2 out of 3 renters will opt to inspect on a day and time that suits them.
- The remaining 1 out of 3 renters will attend the advertised Open For Inspection.
- The number of renters who don’t show up to an inspection has reduced. Afterall, it was a day and time that suited them.
Our clients have a reduced vacancy period due to our ability to show properties 5 days a week: Monday – Thursday, 11:00am – 6:30pm, plus a Saturday Open For Inspection.
Landlord Open for Inspection Report
You will receive live updates after each inspection, detailing the prospective renters who visited and any feedback they gave.
Application Process
We have a dedicated team to review every application within 1 business day. Industry standard is 2-3 days which can result in missing out on the renter of choice. Our fast turnaround means we secure the best renters for your property, before anyone else does.
We have a rigorous process to verify applicant ID's, past rental history, references, employment and suitability to rent your property. We also utilise a Parental Guarantee for all students.
We will present all the applications to you with a summary of their references and a professional recommendation to help make your decision quick and easy. The rental agreement is executed electronically for accuracy, convenience and speed, securing your renter as quickly as possible.
Rental expires in peak season
Did you know there are better times (and less ideal times) of the year to have your property on the market? As such, there are better times of the year, for your lease contracts to end.
The peak periods provide property owners with greater opportunities to generate higher returns based on the demand for rental properties, with more applications received from renters, to give you better choice for a suitable tenant as well, and secure one sooner.
There are also some common misconceptions about tenancy agreements. Typically, renters are led to believe rental agreements are either six or twelve months in duration. Most fixed term rental agreements fall into these time frames, but aren’t mandated by any legislation, they can be any duration! So have your tenancy work for YOU.
Hence, a part of our Strategy to decrease the time a property is vacant between renters, is to negotiate a custom timeframe for the rental agreement, to expire during a peak rental time of year. Meaning, when the property is put on the market to find new renters, more renters are likely to apply and sooner.
Align move-out and move-in dates.
We align the new renters' start date as close to the vacate date of the existing renter as possible, to ensure the cost of vacancy is minimised. It does involve considerable administration, liaison between all parties and timely paperwork. Still, our dedicated team are well versed in the process and keen to help you put some extra rent in your pocket, via a minimised vacancy gap from one tenancy to the next.
Communication
You will receive a weekly call from the Agent in charge, for the duration of the Leasing campaign, to analyse its progress and discuss any required changes in strategy.
The result?
With a Dynamic Residential-managed property, we’re securing the next renter, before the current renter has vacated, with minimal vacancy periods.
Peace of mind and a shift of expectations by property investors in how this process should be done, in comparison to how most other agents navigate this space. We're here to start changing that narrative with committed, proactive service to benefit all rental providers.
But don't do it alone when you can leave it to the experts
While simple, this strategy is difficult to execute well and manage if you're a rental provider going it alone. We suggest engaging a team of Melbourne's most experienced and highly-rated real estate agents who'll provide valued clients with as many advantages as possible during their property rental journey. If you are a landlord looking for assistance managing your property vacancy, processes or ongoing affairs, get in touch with the team at Dynamic Residential today.
We've got MELBOURNE covered.
Dynamic Residential excels where other agencies fall short. Capitalise on the Dynamic difference today.
