Do you know how some landlords are able to always attract the best tenants to their properties? Below, we offer several ideas to draw in the best renters.
Anyone can buy a rental property and anyone can pay to have it fixed up. However, one of the most important factors in a successful rental situation is the quality of your tenants. In our latest post, we will help you learn more about how to attract the best tenants for your rental properties in Memphis !
#1 – Professional Photography
In order to get the most attention and therefore the largest pool of potential tenants, it always makes sense to have professional photos taken. We’ve all seen those listings. Pictures that look like they were shot on a Polaroid camera, from a car window at a high rate of speed. A picture says a thousand words and failing to show your property in its best light will cause many prospective tenants to shy away.
#2 – Highlight The Area
If you don’t know everything about the area, now is the time to learn. You will want to know as much as possible so you can sell your prospective tenants on the area. You can provide information sheets including commute times as well as local restaurants and shops. The neighborhood can be just as important as the house, if not more so. Brush up your area knowledge so you can answer any question that comes your way.
#3 – Luxurious Add-Ons
Luxurious doesn’t have to necessarily equate to expensive. You can add some small touches that will have a big impact on how the property is received. Consider adding things like a wifi doorbell, stainless appliances, energy efficient appliances, fancy closet shelving, skylights, wood flooring, or a pretty garden area. These small touches can be just enough to set your property apart from the rest. Plus, you won’t be kicking yourself if something is damaged by a tenant.
#4 – Go Where Your Tenants Are
If your house is perfect for college students, put an ad on campus. If it is better suited to singles, advertise at the local sandwich shops, bars, and places where your ads will be seen by young professionals in the area.
Don’t forget about your online presence. The great thing about social media is that your tenants are already there. You don’t have to coerce them into going to your website. Advertise within groups or opt for paid advertising. There are many paid options that have a large reach without breaking the bank. Getting your property out there will also help to generate more word of mouth buzz.
#5 – Maintain The Property
Nothing drives away great tenants faster than a landlord that doesn’t keep up with their end of the deal. You never want to have your property thought of as the messy place down the street. Even when there are tenants occupying the property, make sure it is being properly maintained.
#6 – Create An Eye-Catching Listing
In addition to having great photography, a well-written listing will garner much more attention than the boring spiel outlining the property details and nothing else. Create a headline that will grab your prospective tenants attention, clearly convey the property information, and help your prospective tenant get an idea of what it will be like to live there.
#7 – Create Word Of Mouth
Even with all the ways people are able to connect digitally, word of mouth is still one of the most effective forms of advertising. Talk to the people you encounter in your everyday life. The UPS man, the guy at the coffee shop, and the lady on the train might all know someone looking for a great place to rent. You can also ask your current tenant if they know anyone. If their referral signs a lease, give them a bonus.
There are many simple and low-cost ways you can generate buzz for your property, thereby attracting the best tenants!