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Thousand Hills Realty

Choosing the right property management company can help you secure the right tenant. Having the right management company will also play a large part in keeping that tenant happy, which is essential to a continuous stream of income from that property. Every owner's goal for their investment property is to have a good tenant living there at all times.

Layout your tenant criteria beforehand

Before you list your rental property, you need to have an idea of what kind of tenant you would like. It will help you focus on the target market when it comes to listing your rental unit. When someone inquires about the available property, be prepared to answer questions regarding smoking policy, pets, and grilling. If you put this in writing, it can not only streamline the process but can also protect you also from accusations that may arise.

Write a compelling listing

Since most people are looking for their next rental via marketing on the internet, you should write a compelling listing as your first step in attracting quality tenants. It can be a potent way to attract potential tenants to view the property. When you're writing the listing, be sure you have the answers to the following questions:

Is there a hook in your listing that would arouse the interest of a prospective tenant?

Is the listing informative enough yet concise?

Is it easy for prospective tenants to contact me?

If your answer is no to any of the above questions, you need to rewrite your listing. When you take your time, it will help you attract more quality tenants and can increase your chance of leasing the unit sooner.

Don't skimp on professional photography

When you are marketing your rental property, your listing won't attract more tenants if you don't include great pictures. Posting pictures of your property can create visual interest and allow your potential tenants to imagine living in the space.

According to advertising practitioners, listings without pictures have only about 2 seconds to capture the attention of potential tenants, while those with one picture have a full 20 seconds. If you can place three pictures of your property, you have one minute to entice prospective tenants.

Do regular maintenance to your property

Performing routine maintenance on your rental property is another excellent way to attract potential tenants. The tenants will get an idea that there will be less maintenance and repairs to make on the property and that can give them peace of mind knowing that the property is well-maintained. When preemptive maintenance is regularly done on a rental property, it saves you both time and money as it lowers the chance of things breaking at an inconvenient time. However, when things do break, be sure to respond quickly in order to avoid a ruined relationship with your tenant.

Screen your tenants thoroughly

You should have effective tenant screening procedures in place so you can avoid accepting undesirable tenants. To do this, you should check up on your tenant's background, credit score, and income and contact all references and speak to previous landlords to find out the prospective tenant's rental history. You also need to ask questions to gauge some background information. Questions such as, "why are you moving?" Who will be living with you? Have you ever been evicted? Do you have any pets?

Boost value with add-ons

Another effective way to attract quality tenants is to make sure they are informed of any upgrades offered within the property. These add-ons could include built-in wardrobes, extra storage space or lighting, high-end appliances, and a washer/dryer unit. While these upgrades not only boost the value of your property, they will help you also attract potential tenants.

Know all area amenities

Be prepared to answer questions regarding the area's facilities such as schools, shopping malls, public markets, and transportation services. It can help potential tenants to envision the type of lifestyle they will be able to enjoy, and it shows them that you're a helpful property manager that knows about the neighborhood. Additionally, you can make potential tenants feel more at home, knowing that the area has all the comforts that they would like to have available.

Streamline communication

A good property manager should open up all lines of communication, in order to be easily reached to answer the questions that the tenants have. By answering questions and learning more information about the tenants, you can assess whether they will be a good fit for the property. Your availability to address concerns will help make your tenant live happier at your property, with a longer tenancy, further boosting your reputation as a valuable property manager.

Be flexible

Try to be flexible about meeting potential tenants. They may only be able to see the property on the weekend or after work hours. Be sure to try to accomodate them by arranging a meeting time that will work for everyone. It allows you to get to know them, ask questions, and discreetly notice any red flags.

Rely on the word of mouth

Many consumers believe that word of mouth recommendations from friends and family is the most effective and valuable form of marketing. It means that if your current tenants are satisfied, the better your reputation as a property manager is, and the more likely you will be to attract potential tenants.

If a time comes that your quality tenant is moving out, don't hesitate to ask if they know anyone who's currently looking for a rental property. Chances are you will get a tenant with the same quality of the referrer.

Having a great property manager that enlists all of these principles, will go a long way in making sure your tenant is happy and willing to sign a new lease when that time comes.

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