WA How to look for Corporate tenants

Discussion in 'Property Management' started by Leslie, 26th Nov, 2019.

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  1. Leslie

    Leslie Well-Known Member

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    Hi
    I am looking for a tenant for house with the rental valuation around $600. I am managing the properties on my own as I live close by. I have trouble in getting tenants for this property as the rent is bit higher than the average . I am looking forward to rent to corporate executives from overseas who are relocated to Perth by their employers and normally the rent will be paid by the employers. Is there any way of reaching out to those corporate who are looking for rental homes for executives?
    Any suggestions will be appreciated.
     
  2. thatbum

    thatbum Well-Known Member

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    Is it fully furnished? Why would overseas execs want to overpay for your particular rental? And what have you been trying so far to find a tenant if you're only self managing?

    Personally I would just lower the rent to an appropriate level and then consider using a PM on a letting-only agreement if you really want to self manage.

    Also, do you have self managing experience or know how? I tend to advise against self managing unless you know what to do to efficiently terminate a tenancy or handle any disputes under a lease agreement.
     
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  3. thydzik

    thydzik Well-Known Member

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    Corporate tenants would search for properties no different to individuals. i.e. realestate.com.au and domain.com.au

    I've had one corporate tenant, and in my experience there is more risk from bankruptcy and more issues getting paid due to the company's internal approvals.

    They paid for a regular cleaner though which was good.

    Airbnb has options to make your accommodation business friendly, but I don't think you can exclude individuals.
     
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  4. Leslie

    Leslie Well-Known Member

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    thanks for your comments. Actually the property is not over priced just that at that rental bracket, not many people can afford to rent the house. Thanks for your suggestions. I will try with letting only agreement. Hope I can find some agent who is willing to go that way.
     
  5. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    This type of clientele will generally need it to be furnished especially if they are expats who are waiting for furniture to come on a container.

    Most corporate companies don't handle the relocation services but outsource it and pay the outsourcer. They generally use companies like
    Premium Real Estate Agents Perth | Executive Leasing and Sales
    How does it all work?
    Ellis Corporate
     
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  6. Leslie

    Leslie Well-Known Member

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    Thanks @Westminster . Very helpful as usual.
     
  7. balwoges

    balwoges Well-Known Member

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    I dealt with a lot of corporate tenants when I was PM, they like the best suburbs with private schools close by ... does that fit the description of your house? If you are unable to rent it at $600pw to any tenant and you admit the rent is a little high for where it is, I dont think it is suitable for that particular market ... :(
     
  8. Michael Mitchell

    Michael Mitchell Well-Known Member

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    There are agencies whose business is to handle this for Corporates'; try and make your property known to them and let them find tenants for you :)

    Big multinationals usually have a relocations department for their upper echelon staff, eg. one I've dealt with in the past has been for Toll (the freight company.)
     
  9. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    $600 isn't a lot of rent though and is how much an average house would cost to rent in a good (not brilliant) suburb. Are you sure it's priced right and suitable for corporate types?
     
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  10. Leslie

    Leslie Well-Known Member

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    Rentals Riverton, WA | Houses for Rent and Rental Properties Riverton

    I agree. There are 10 more houses around that price bracket in this suburb. Advertised rent is not too high for this house. I just have to wait to get the right tenant, i suppose. Spoke with Executive leasing and rental. They are interested only in apartments, town houses in the city or close to the city.

    Thanks for all the comments. Much appreciated.
     
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  11. thydzik

    thydzik Well-Known Member

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    If trying to get a better rental yield, trying furnishing the house or even short term leasing.

    Given you live close by, it would be easier to manage short term leasing.