Surely, the most effective way of attracting quality tenants would be to have a premium rental property in an ideal location at an ideal price point. However, not many landlords can boast hitting all the three sweet spots at once. As a landlord or property manager, you may not control the variables such as price and location, but there are still many things you can to make the rental more desirable to the right kind of tenant.
Outline your ideal tenant
Before you list your rental or organize a showing, it’s good to have an idea of what kind of tenant you want. This way, you can focus on a specific market segment to have in mind when writing the copy. Make sure you are ready to answer questions about smoking, pets, and minimum income, among others. If you put all these in writing, you can streamline the process more effectively, as well as discharge any accusations of discrimination.
Write an irresistible listing copy
Since most people use the Internet to find listings for their next rental, writing a captivating listing is the first step in reeling in quality tenants. Since it’s the crucial way of motivating potential tenants to visit the property in person, when writing the listing make sure you put a hook in the listing headline that will spark the interest of potential tenants. Also, make it descriptive and detailed, yet concise, and funnel potential tenants into contacting you.
Include professional photography
Great professional photographs create visual interest and entice your potential tenants to picture their lives in your space. Make sure you showcase the best areas, such as spacious sunlit bedrooms, a patio with a great view, a freshly renovated bathroom, etc. You can even take it to the next level with a video or a VR tour.
Improve value with add-ons
A good way to attract tenants from a high-income market is by investing in add-ons that make your rental stand out among the competition. These add-ons might include green features, such as energy-saving lighting, solar panels, double glazed windows, high-end stainless steel appliances, a built-in wardrobe, basement laundry, etc. An add-on that hardly goes unnoticed is a new reverse osmosis water filter, which uses a 100% natural process for separating contaminants from water. This way your potential tenants can have quality drinking water regardless of the property area.
Get to know area amenities
Being prepared for questions about local amenities such as public transport, schools, supermarkets and cafés will help the potential tenants imagine the type of lifestyle they could have, as well as show them that you’re a knowledgeable property manager with a good understanding of the neighbourhood. Impress them additionally by creating handouts of desirable local amenities, such as parking options, gyms, costs, etc.
Invest in communication
Just as you’re looking for good tenants, quality tenants are looking for quality property managers with great communication skills. Make sure you are easily reachable at all times, and leave more than just one line of communications. In return, you’ll get to know the potential tenants and their situation better, assessing if they are suitable for your rental property.
Communication and flexibility hardly go without one another. You may have excellent communication skills, but if you aren’t flexible about meeting potential tenants, don’t be surprised if they stop calling. Since most prospective tenants will only be able to see the property on the weekend or after work hours, make sure you’re available for showings at that time.
Whether you focus on great professional photographs, a compelling listing copy or added improvements, these tips have hopefully given you some ideas on how to attract quality tenants and present yourself as a reliable and resourceful property manager, in addition to increasing the value of your property.
by Lillian Connors