Being a landlord can be challenging, but one thing you can do to make things easier is to find the perfect tenants. Every landlord wants tenants who will take care of their home, pay the rent on time, and get along well with their neighbors. But how do you find these tenants?
Offer a free rental application
Rent accounts for 29.1 percent of a household income in America. This means that your renters are paying more than a quarter of what they make towards your home, and most potential tenants know this going in. Renters are not looking to pay for a rental application, especially if they aren’t yet sold on the property.
Offering your potential tenants a free rental application shows that you value their time and their money. You are willing to take their application without a fee because you are confident in your property and you value what they will offer you in the future. Most renters are looking for properties that do not charge for the application, so you will attract more and better tenants by offering a free application.
Spruce up the outside of the apartment
The outside is the first thing your potential tenants will see when they come to check out the listing. It is also the first thing people driving by will see. Renters want to live in a space that looks nice from the outside and makes a good first impression. Because tenants can’t make permanent changes to their building, you want to make sure that you’ve already made changes to make the space appealing and welcoming.
Outdoor LED christmas lights are a simple way to make the outside of your property look appealing without having to spend too much money or time. Lights will catch the eye of people driving past, and if you have a “for rent” sign out, more potential tenants will take notice and inquire. Creating a welcoming and inviting outdoor will lead to better people renting your property. More people are renting now than ever, and more older adults are renting. These tenants want a space that will be inviting and will require minimal work.
Along with this, make sure that your parking spaces and sidewalks are clear of snow during the winter, especially if you rent to older adults who might be unable to clear it themselves.
Listen to your tenants
Renters want to know that they are your first priority and that they are valued. When you are showing a property to potential tenants, listen to their concerns and respond to them. Answer any questions they have and make it clear that you are here to help. Inform your potential tenants about any repairs that have been done and make it clear that you work hard to keep the space up-to-date and in good repair. You definitely want to avoid tenants having to file petitions to get repairs done in their homes.
It’s also crucial to show that you are able to follow through and address issues quickly, so let your tenants know who is always available to fix their issues, whether it’s you or a handyman you hire for the property. Potential tenants are looking for a landlord who will listen to them and fix any problems that may arise. High-quality tenants will ask about issues and will want to hear your solutions. This shows that they care about issues that come up in their home and will work with you to fix them quickly. Having tenants who care about the property means your spaces will stay in better shape and will be cared for.
Ultimately, you want to attract tenants who will value your property and pay their rent on time. Creating a offering a free rental application, creating a welcoming atmosphere, and trusting your tenants will bring these renters to you.