Whether you’re looking for a new tenant or starting out as a new landlord, finding a renter quickly is essential if you want to avoid financial losses and turn a profit. If your property is in a large or competitive area, you might need to take some extra steps to attract more prospective tenants to your listing. These tips can help you stand out against the competition so you can find a great renter fast.
1. Start With Some Excellent Photographs
These days, online listings are most people’s go-to option for finding a new place to rent. The photos you post will make a lasting first impression, good or bad, and can be the most influential factor when it comes to attracting potential renters. Hiring a professional to stage and photograph your space can be well worth the investment. This helps people see your property’s best side, highlighting all the assets while showing the potential it has to offer. Good photos can also help your property look brighter, cleaner, and more spacious.
2. Hire a Professional Property Manager
Most tenants want to know that if something breaks or goes wrong, it won’t take days or weeks to get it fixed. When prospective renters see that you have a reliable property management company to quickly and efficiently handle potential issues, it can be very appealing. Not only does this provide peace of mind for you as a landlord but it also helps your renters rest easy too.
3. Give it a Good Deep Cleaning
When people take a tour of your property, lingering odors, stained carpets, and messy countertops or walls can be a huge deterrent. Deep cleaning the home is a must before you start showing the space, whether you do it yourself or hire a professional. Not only can it make the place much more attractive, but it can also make it move-in ready for your new tenant. In addition, it sets the expectation for how clean your property should be whenever a renter moves out in the future.
4. Be Smart About Your Rental Rates
If you can’t get anyone to express interest in your property, your asking rate may be too high. While you certainly want to make enough to stay in the black, monthly rates and fees that are too high when compared to the local rental market can just make you lose more money in the end. Research your area carefully so you can get a more realistic picture of what people are willing to pay. Look for places that have the same basic features and square footage in your neighborhood. You may even want to lowball by $50 a month or more to give yourself an edge if you need to find a tenant fast.
5. Spruce Things Up, Inside and Out
In addition to keeping your property clean, it should also look well cared for. Apply a fresh coat of paint, keep the yard trimmed and neat, and let in plenty of natural light. Don’t go too crazy when it comes to decorating; that can make the place look cluttered and crowded. However, a few modest and simple decor items that are strategically placed can help make the property look inviting. Remember, you want your tenants to feel that this space can be their home.
6. Market Your Property Well
You can make all the right choices when it comes to preparing your property but without the right marketing approach, it will be difficult to find a tenant in a timely manner. Digital listings are a must, so look for options on popular websites to get your property seen by more people, including those who don’t currently live in the area but are planning to. Old-fashioned options can also be very effective. Place a for-rent sign in your window, and consider ads in local papers, periodicals, and websites as well. You may be wise to hire a professional to give your listing maximum visibility.
If you’re having trouble finding a new tenant, give these simple tips a try. With a little effort, you can be on your way to filling your rental property in no time.
