7 Ways to Attract the Best Tenants
Attracting and retaining good tenants is important and difficult for most rental units. For one, high-quality tenants know they are a valuable asset to landlords and have no difficulty finding rental units. In most cases, landlords have to go out of their way to impress tenants and make them happy so they have an incentive to renew their leases.
Here is a list of tips that can help you make a good impression on tenants.
Take High-Quality Photos of Your Rental Unit
Take at least 10 to 15 good-quality photographs of the rental unit. It’s a good idea to take low shots because pictures often look better when your camera is at a lower than eye level. Your best bet is to take advantage of daylight, especially if your camera or phone doesn’t operate well in low light conditions. Daylight makes your apartment look more inviting and spacious.
Pro tip: Try experimenting with different angles for taking the best pictures.
Advertise on Multiple Platforms
From Zillow and Craigslist to social media and search engines, there are hundreds of tools that help you advertise your rental unit. Or you could use the tried and tested method of posting a yard sign informing potential tenants that your property is available for moving in. Just make sure you use multiple methods to cast a wide net and generate buzz around your rental unit.
Pro tip: Write a compelling description of your rental unit to attract quality tenants. Use descriptive words that are concise and informative.
Don’t Skimp on Maintenance
It is standard practice to make a unit move-in ready before the next tenant signs the lease agreement. This will increase the value of your rental unit and gives potential tenants the peace of mind that the landlord takes their role seriously.
Additionally, maintenance can save you both time and money by reducing the number of things that will suddenly break in the long run. However, when things start to break, make sure to respond quickly because nothing would sour the relationship with your tenant than slow repairs.
Screen Your Tenants
Never underestimate the power of screening. You should check for:
The tenant’s background, income, and credit score
Call previous landlords to learn more about the tenant
Ask questions about the type of person they are, why they are moving, and who else will be living with them. Now is also the right time to ask them about any pets they own.
Provide complimentary add-ons to prospective tenants. This could mean extra storage space, built-in wardrobes, dishwasher, air-conditioning, and other appliances.
These add-ons may represent a significant chunk of change at first, but they will boost the value of your rental income in the long run.
Calculate the Ideal Rental Amount
The rental amount is an important consideration for any prospective tenant because they will be bound within a certain budget. You can always take a look at the rental amount of nearby properties for ideas. It is recommended to work with a property manager who is familiar with your local neighborhood since they will know what to charge.
It is not uncommon for tenants to prioritize rental units that they can personalize. Allow prospective tenants to personalize the interior décor so they can feel comfortable and stay in your rental unit for longer. It goes without saying, that the tenants should have an understanding that they will restore the property’s original condition once they vacate.
Good income isn’t always an indication of a high-quality tenant. You should also look into other factors, such as income, credit history, criminal history, and relationship with previous landlords. The bottom line is that attracting the right tenants can be a complicated process that requires a great deal of attention.
It is recommended to work with a property manager to attract high-quality tenants, screen them, and manage other aspects of your property.