Spend Less Time Looking for Tenants
Whether you’re looking for residential tenants or executive tenants, there are some key ways you can attract more renters to your property. Spend less time looking for just any tenant, so you can focus on finding the best tenants.
Post Property Photos (& Video)
Wherever you list your rental property, you only have a few seconds to grab a potential tenant’s attention. If your listing doesn’t have photos, you decrease the time people spend looking at your listing to only 2 seconds. When you add photos, people will view the same listing for 20 seconds, over 10 times longer.
Bright, high-quality photos that highlight the space are one of the best ways to attract new tenants. Often, it’s well worth the cost to hire a professional real estate photographer. Hiring a videographer or virtual tour company can also go a long way, as dynamic media really helps tenants envision themselves in the space.
Provide a Detailed Description
The description of your property needs to be spot on in order to reach the most tenants. The more information and details you can include, the greater chance you have at attracting a renter’s attention. That said, don’t write a wall of text. Use bullet points to highlight key features, as most people will skim your listing to find what they’re looking for.
Understanding your ideal tenant can really help you write the best description. Write your description based on what your ideal tenant will value. If your ideal tenants are a family with kids, then highlight features that make your property great for kids and parents.
There are certain features that will be attractive to almost any tenant. A storage area, walk-in closets, and even new flooring can be great selling features. Likewise, any recent upgrades to appliances like the fridge, stove, or furnace can signal to renters that there is less chance of repairs during their lease.
Set Your Property Up for Success
A thorough cleaning and maintenance touch-ups can go a long way. For the cost of a can of paint, you can make a big difference in your property. The same goes for a few hours spent deep cleaning, especially for seldom cleaned areas like tile grout and range hoods.
You can really set your property up for success with staging. While it’s important not to clutter the space, staging with furniture can really help tenants visualize themselves living in your property. When staging your property, use furniture and decor sparingly and leave plenty of open space to make rooms appear larger.
What If the Current Tenants Are Home?
Ideally, it’s best if the current tenants are not home. It can be uncomfortable for prospective tenants to look at a property while the current tenants are there. Try and give any current tenants as much notice as possible so they can plan to be elsewhere.
Don’t Forget About the Exterior
The inside of the property is obviously important, but don’t forget about the exterior. Good curb appeal can make a big difference in the overall impression tenants get. Make sure that the outside of the house is well-maintained; even putting away garbage bins can change the feel of a property.
Basic repairs and maintenance can also go a long way. Look for areas that need a paint touch up and mow the lawn or shovel before tenants arrive. Security is another very important aspect to consider. Tenants want to feel safe, so make sure all locks on doors and windows are working properly. Even a bright exterior light can make a big difference, especially if the tenant is viewing the property in the evening.
Sell the Area (Not Just the Property)
Location is one of the most important aspects of a property. Chances are, there are other properties with similar features to yours, but only your property has that location. Don’t hesitate to call out amenities and services that are nearby.
Proximity to universities and schools are big draws for students and families with kids. Entertainment, shopping, and even grocery stores can also be selling points. Transportation is another amenity you may not have thought of. Point out bus routes, train lines, and major roadways nearby.
Communication is Key
Quality tenants will look for a property manager or landlord who can communicate effectively. Ensure that you’re easily reachable and reply to inquiries as soon as possible. When scheduling a viewing, you want to set the bar high by being responsive and easy to work with.
On that note, be flexible about meeting or viewing times. Most tenants will want to meet in the evening or on the weekend, so be prepared to meet on their schedule. Open houses are a good workaround, and eliminate the pressure of scheduling various different viewings.
Promote the Property
The more places you promote your property, the more chances tenants have of seeing it. Property rental websites, like RentFaster, are a great place to start. 90% of people search online when looking for a home, so make sure you’re on relevant rental sites for your area.
Word of mouth can also go a long way. While you might not be able to reach as many people through word of mouth, the people you do reach are more likely to become tenants. If you have a good relationship, don’t be afraid to ask tenants who are leaving if they have any friends or family looking for a rental.
Aside from the tried and true “for rent” sign, there are numerous other ways to attract more tenants to your property. A property management company can help you navigate the rental market and ensure you’re making the most of your property.