The best way to fill a rental unit with quality tenants is to offer a unit that is both attractive and affordable. Do you see how perfect this situation is?
While factors such as rent and proximity to amenities may be beyond your control as a property manager, there are still plenty of things you can do to attract high-calibre tenants. You can show that you are an excellent property manager by giving detailed descriptions of the property’s best features, keeping the building neat and tidy, and demonstrating excellent communication and organisational skills.
Here are 7 tried-and-true methods for finding reliable renters:
Set your rental standards in advance
Having a clear idea of the ideal tenant in mind is crucial before advertising a rental or holding a showing. Writing the listing copy will be easier once you have a specific audience in mind. You should also anticipate questions pertaining to smoking, pets, and minimum income or credit, among others. This will help to streamline the process and protect you from any potential discrimination claims if they arise.
Carefully examine potential tenants
Despite its apparent obviousness, this is a frequent failing of property management. Instead of waiting for a problem to arise, take preventative measures by implementing these thorough tenant screening processes.
Investigate your prospective tenant’s identity, credit, and income.
Find out what kind of tenant they were in the past by contacting their references and previous landlords.
Inquire about the other person to get to know them better.
Example: “Why are you leaving?” Who will be occupying the house? Were you ever kicked out of a home? Do you own a pet?
Create an interesting catalogue
The first step in attracting quality tenants is writing an appealing listing, as 91% of tenants use an online listing service to find their next rental. You should ask yourself these questions as you write the listing because they are crucial in getting prospective tenants interested in viewing the property.
Can I get the attention of my ideal tenant with the listing’s headline?
Is there enough detail and information, but is the listing easy to read?
Is it simple for prospective renters to get in touch with me?
You may want to go back and rewrite your listing if you answered “no” to any of the above questions. By investing the time, you can increase the number of qualified applicants for the rental and the likelihood that it will be rented quickly.
The key is consistent upkeep
Keeping up with routine maintenance is another strategy for attracting high-quality tenants. This reduces the time and effort required to get the property ready for showings and reassures prospective tenants that they have made a good choice.
Preventative maintenance not only lessens the likelihood of future breakdowns, but also saves you time and money. However, when problems arise, you must act promptly because slow repairs are a surefire way to lose a tenant.
Understand all of the amenities
Be ready to answer questions about public transportation, parks, schools, grocery stores, and restaurants in the area. This demonstrates to prospective tenants that you are a well-informed property manager and helps them visualise themselves in the area. Having all the amenities that a tenant is accustomed to can also help them feel more at ease in their new home. If you want to really impress potential tenants at a showing, you can create handouts of desirable local amenities including parking options and costs.
Add-ons can add value
Enhancements can help you attract high-quality tenants by opening up the rental market to people with more disposable income. Some examples of these upgrades are dishwashers, air conditioning, radiant floor heating, recessed lighting, and stainless steel appliances.
These improvements are an investment, but in the long run, they will increase the rental yield and thus the property’s value.
Ease of interaction
Tenants who are looking for a new home will favour property managers who are excellent communicators. You need to make yourself easily accessible at all times and ready to answer any questions that may arise by keeping the lines of communication open. You can learn more about the tenant’s backgrounds and determine if they are a good fit for the rental property at this time. The more painless the entire procedure is for a prospective tenant, the better. This can lead to a more content tenant and a longer tenancy, both of which are great for your business.
House Manage, a leading property management company, offers a comprehensive solution to streamline your property management tasks. With its advanced automation capabilities, you can easily manage disbursements, reconciliations, and communication with tenants and suppliers. The platform also allows you to track jobs from start to finish and schedule inspections to ensure everything runs smoothly. Say goodbye to tedious manual tasks and hello to efficient property management with House Manage. After discovering your valuable customers, it’s crucial to take proactive measures to retain them.