5 Smart Strategies To Attract More Tenants To Your Rental Property

Attracting more tenants to rental property
Attracting more tenants to rental property

You’re not making money unless your rental property is occupied. If you can’t get the tenants to come check out the place, it could be a while before you get that rental occupied. If you’re trying to fill some empty beds, there are several things you can do to make your rental more attractive to potential tenants. Some of it comes from the way you advertise the property, some of it comes from what you’re willing to offer, and some of it comes from making yourself stand out among the other landlords.

  1. Update, Improve, and Modernize

If there are more desirable rentals in your area, tenants are going to flock to those first. Update your rental. You can work with modernizing what you have, or you can build new construction. If you have a lot of rentals, it may be worthwhile to learn how to manage the construction yourself. Not only are updated and modernized rentals more appealing to tenants, they’re more appealing to your wallet. You can charge more for a luxury rental than a basic apartment.

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  1. Be Willing to Offer Something Unique

Think about what you can do that would make your rentals more popular among people with specific needs. Would putting in a washer and dryer unit make you stand out? What about a lenient pet policy to draw in tenants with dogs? Research your competition. See what you can offer that they can’t offer. It may differ from your original vision, but it’s better to make money on a compromise than it is to be broke holding your ground.

  1. Talk About The Area

Most people list their rentals in specific terms. How many bedrooms, how many bathrooms, and how many cars can fit in the garage are all valuable information. Fresh paint, new flooring, and updated kitchens are also a plus. But what about everything else? Does the rental have a spacious yard? Is it close to parks or located near great schools? Can they get to every shop or restaurant they’d need to get to by easily walking there?

  1. Be As Flexible as Possible

You could be alienating tenants by putting too many restrictions on contact methods and availability. If they can only see the rental on weekdays between noon and five, they may never get to see it. Some people would need to take time off work just to spend an hour checking the place out. If people are making lists of places they’d like to check out and you’re unable to answer the phone, they might skip over you and move to the next one. Provide several contact methods, including your email address, for people to get in touch with you about your rental.

  1. Be Clear About Your Criteria

Is the problem that you aren’t finding any tenants, or that you aren’t finding the right tenants? Sometimes, the issue is more about quality than quantity. In every place you list your rental, be up front about the kind of renter you need. Give them an idea of what the terms are and who you think would thrive in your rental. You’ll make out better in the end by being specific – the right tenant will last for a long time, and the wrong one will leave you advertising again after a lot of headaches and a few months.

It also helps to take some feedback from your current or previous tenants. What drew them to the place? What did they like about it? Their answers can shape the way you productively advertise to tenants in the future.

Bio:

Sienna Walker is a business and finance blogger, currently supporting DirectorStats. Always interested in new ways of bringing additional income, Sienna is also a huge supporter of finding unique ways of