Did you know that in 2019, vacancy rates were the lowest they have been since the 1980s? If you want to learn about tenant screening, we can help.
In this guide, we’ll go over how to find a tenant that will take care of your property. You want to spend time looking for the right renter.
Want to learn more? Keep reading.
Defining a Good Tenant
Responsible landlords will try and find a good tenant for their property.
A decent tenant will ease the worries of a landlord. You won’t worry about a stranger living in your investment property when you find someone trustworthy.
Top tenants have a few different qualities. Some examples include paying rent on time, keeping the property clean, and maintaining your property. Tenants will take the property and keep it in good condition.
Both landlord and tenant can find maintenance issues before the repairs become expensive. Good tenants respect the property, communicate, and keep their place clean.
How to Find Tenants
You should spend time making sure your property will attract decent tenants. If your property appears attractive, it will attract quality tenants.
Think about what will appeal to renters.
You can add things to your property to help boost its value and find decent tenants. New flooring, appliances, or paint can help interest renters.
Being close to transport, schools, parks, and universities increase your rental value.
Highlight Some Main Features
When looking to find a decent tenant, you’ll want to highlight specific features on your property. Extra features also will let you charge a higher rent price.
You’ll also reduce the amount of time your property’s left vacant when you have lots of features.
If your property stays vacant for even a week, you will lose some of your annual income. Try to reduce vacancies as much as possible.
To reduce vacancies, you want to make sure you maintain your property and add new features. If there are many properties like your own available, you should find out how to remain competitive.
Popular properties will offer air conditioning, heating, and high-quality appliances. You’ll also want to invest in creating a quality kitchen. Make sure you also have top curtains, shutters, and blinds.
Another major factor tenants ask about is the WIFI connection. You should be able to provide high-quality internet.
Is your property pet-friendly? Do you offer outdoor amenities or a patio? Make sure to highlight these features.
Look At Getting Professional Photos Done
A listing isn’t complete without photographs. Hire a professional photographer who takes photos for real estate.
Does your property have stunning decor or large bedrooms? Make the most of these highlights by getting professional photos done.
Pictures will help tenants imagine what it would be like living in your property. You want tenants to browse a wide variety of photos so that they can get an understanding of the place.
Photos will help sell a property to interested tenants.
Draft a Well-Written Listing
You should also take your time creating a well-written listing. The listing is one of the main things that landlords can use to attract quality tenants.
Your listing should include a hook. Your hook will be something that can draw in tenants’ interest in your property.
You should add descriptive words to your listing and concise information. This way, tenants will quickly understand if your property’s a potential spot for them.
Give yourself time to write a compelling listing. You could browse the internet to read some other examples before writing your own.
Avoid These Property Problems
Some things will turn off a tenant from your property. If you’re looking for responsible tenants, make sure you avoid these common mistakes.
For example, a darker property will turn people off. A place that hasn’t been well-maintained or is dirty is also a turn-off.
Properties with few windows won’t be popular. Consider adding another window to your space if it doesn’t have many.
Even if you prefer a darker room, you should look at making it airy and bright for potential tenants.
Do You Need to Make Improvements?
To find a decent tenant, you should also consider what small changes you can make to your home.
Do you need to add modern light switches, a fresh coat of paint, or update the door handles? Some minor improvements will improve your property as a whole.
Make sure you don’t overspend on some of these changes. You need to think about what will be worth investing in and what isn’t.
Interview Potential Tenants
Before you rent your property, you should take the time to meet with interested tenants. Make sure you have an initial screening process. Ask interested tenants to send you references.
You’ll want to narrow down your potential list. Then, you should look at talking to the interested tenant. Make sure you ask these questions.
Make sure you don’t skip this step because finding the right tenant for your property’s critical. Don’t rent to someone who will end up damaging your investment.
Make sure you provide your new tenant with your contact information. Maintain contact with your new renter.
Now You Know How to Find a Tenant
We hope this guide on finding tenants was helpful. Now that you know how to find a quality tenant start your search today. Create a compelling listing. Take professional photos of your place, and highlight winning features.
Good luck with your search to find a tenant.
Are you looking for more real estate tips? Check out our resources on the blog.