The 101 On How To Attract Quality Tenants
As a landlord there will be some variables that are out of your control. Price, location and a number of other things can take away from what you envision as your ideal property to sell or rent out. Luckily one of the things you can control in this demanding market is being able to attract desirable tenants. Setting high standards as a landlord will reel in the right tenants for your property with minimal issues.
Following the advice outlined here will make the process of attracting quality tenants much easier than you may have initially perceived. If you are attempting to self-manage your property, these tips will guide you in improving the quality of your tenants. If you use the services of a professional property management company, you should still ensure that they are following these best practices. Typically strong property managers will automatically employ these methods and it should be a red flag if they are not.
Write a Detailed Listing
The first and most important step to attracting a high quality tenant is to construct a well written, detailed, catchy listing to grab the attention of honest and upstanding renters.
This will likely be the tenant’s first impression of the property you are trying to rent out, so be sure to write something that is attractive and enticing to potential renters. Do not skimp on the smallest property details, because a quality tenant will consider every detail if they really care about the property they want to rent.
Take Professional Photos
On a similar note, no good listing is complete without high quality photographs of the property. This will visually stimulate potential tenants and also serve the landlord by backing up what was written in their listing. This is the time where you cannot leave anything up to the tenant’s imagination.
Remember that a picture is worth a thousand words, and in real estate these pictures can be the selling point for your property, when you list them on the major property portals as well and local portals. In the US, landlords are advised to list their property on Zillow,
A pro tip would be to hire a professional photographer so that every angle and detail is captured. They also use tricks of the trade to make the property seem brighter and more spacious. Although it may be expensive, it will be worth it if it maximises your pool of potential tenants.
Stay On Top of Maintenance
Another important element to attracting quality tenants is to stay on top of all maintenance. This guarantees that there will be less to do when it is time to fix up the place with your yearly maintenance. It also ensures future renters that the property is in good hands when you do your showings.
Preemptive maintenance will save you future headaches, and reduces the likelihood of something going wrong in the future. Nothing can sour a relationship more than untimely repairs from the landlord.
Screen Your Tenants
Screening your tenants goes beyond the obvious background check. Another incredibly important thing to do is check their credit score and income – most of which can be done online nowadays. If they have bad credit then it may be an indicator that they cannot maintain their finances properly, and checking their income may shine light on whether they have had consistent employment over a number of years.
As a landlord you can also ask potential tenants for references from their previous landlords to understand what kind of tenant they really are. They will be able to shed light on their experience with the prospecting tenant.
Know Your Area
Be prepared for questions from the tenant regarding the surrounding areas amenities such as local schools, shopping centers, supermarkets, parks and fun things to do in the area. This will allow future tenants to envision what the overall experience will be like living in that location. It can also show the landlord what kind of lifestyle the tenants will be living so they can get a better understanding on what type of person they are. Additionally, this can show a quality tenant you care about truly feeling at home by informing them on what it’s like to live in that area.
A tenant who really cares about where they live will look for a property manager who is on top of all communication. Your tenant should be able to reach you from all lines, knowing that you as a landlord are easy to reach and available to answer any questions or offer help if needed.
During these conversations with prospecting tenants you can get a better understanding of where they are in life and evaluate if they are a strong fit for your property or not. The easier this part of the process is, the more positive your tenants experience will be. This will later translate into a happier and longer tenancy.
Spending the time to attract quality tenants will be one of the most worthwhile investments you can make for your property. Although it can be a challenge, it is certainly possible if you follow these steps here. A good tenant is the key to maintaining a strong rental property.