Tips to Help You Attract the Ideal Tenant
When it comes to finding tenants you need to be proactive. Don’t rely on luck. Put yourself in the driver’s seat when searching for tenants. Never discount the fact that there are good people out there looking for good places – it’s just up to you to find them.
The Space
One of the most important things that a landlord should keep in mind when it comes to finding a new tenant is that the better the condition your place is in, the easier it will be to rent, and the higher the caliber of tenant you will find. With a high-quality property, tenants will be willing to pay a higher monthly rent, stay longer and will be less likely to miss a payment. Put simply – make sure everything is clean, updated and of good quality. Now, every property and landlord situation is different. However, as a landlord – regardless of your situation, you have to take care of your property. Here are some of the ideal attractions that your investment property will have to help ensure you get the best tenant(s) possible.
Updated kitchen
Updated bathroom
Hardwood floors (above grade)
Quality windows
Stainless steel appliances
Fresh paint
Figure Out Where to Promote Your Listing
Over the years the process of advertising an apartment for rent has changed a lot. Today the best way to advertise a property is on an Internet rental site. Unlike classic print ads and traditional bulletin boards, online rental sites allow you to post plenty of pictures. Remember: Pictures are the number one thing that will help get your place rented.
Websites like Craigslist and Kijiji are certainly options, but I have always found that targeted rental sites are the most effective. Most cities have local rental search engines, and that is where you want to be.
Here are Some Fantastic Ways to Advertise
When it comes to advertising your property you want to make it sound as appealing as possible, but you also want to be honest. Make sure to include the following:
Availability date
Rent
Location
Size
Appliances
Parking
Laundry
Amenities
Neighborhood
Proximity to public transit
Make Sure You Check Out Your Competition
Before you write an ad it is crucial that you take the time to check out the local rental competition. Find out what other similar units are going for, check out what they are offering and have a look at how they are writing their ads. How do other rentals describe the neighborhood? What features are they calling out? Take note of what ads stand out to you and try to emulate them as best you can.
Showings
It is recommended by many professional landlords to include a date for showings in the ad. One of the best ways of doing this is to set aside a few hours for all the appointments so that you can control your schedule. You will want to make sure that you make it clear in the ad that people have to book an appointment. This will help you to avoid having an “open house” style free-for-all. Scheduling your showings in this way can also help create a buzz about the property because potential renters will see others coming and going from the showings.