5 ways to attract the best tenant for your property?
Renting out your property is a good way to bring in additional income but it can provide many challenges. The right tenant can make life a lot easier for any landlord, and this is why it makes sense to be proactive in finding the best possible tenant for your property.
Find out what sort of people want to rent your style of home in your area
If you are buying property, you can review areas and see where the best demographic of tenant or most attractive demographic is looking to rent. However, when it comes to letting out your own home, the area is already set in place, so you should look into the type of tenants who are looking to rent in this area.
Depending on how you promote and market the property, you may be able to be make your home more attractive. There is a lot to be said for being proactive in appealing to a certain audience, and if you want to rent your home out to the best tenants, you need to know who is looking for a home in your area.
Price and market appropriately for the chosen demographic
Once you know the best tenant demographic for your home and area, market your home to them in the most appropriate manner. The rental price of your property is always going to be a major factor but it may be that where you advertise or how you advertise (promoting certain facilities or key benefits) will make certain people more likely to want to rent from you.
When you know the tenant you want, you’ll find that your promotional activities can help you reach out to that person.
Present the property in the most appropriate manner
Presenting your home is essential in creating the best possible impression. If you want to impress the right sort of tenant, knowing what these people are looking for in a home is a great starting point. You can stage or present your home to appeal to certain people and groups and being proactive when it comes to staging your home to appeal to certain people will pay off.
Whether you are looking to appeal to students, young professionals, families or elderly couples downsizing, there will be ways in which you can present your property to appeal to them.
Undertake a good standard of marketing
If you want to appeal to the right sort of tenant, you want to undertake a professional level of marketing. Creating professional looking brochures, using high quality images on a website, offering floor-plans and providing the most appropriate information will ensure that the right sort of people pay attention to your property.
Can you offer extras?
If you want the best tenant, you sometimes have to go the extra mile. If you are able to offer broadband as part of the tenancy, this can make life a lot easier for the tenant. It may be that you can offer a laundry or ironing service for the tenant, which will help to make their life simpler and save them a task.
Providing a range of additional services can help you stand out from the crowd, ensuring that the right sort of tenant wants to stay at your property. There is also the fact that offering extras can help you to bring in more rental income.