All you need to attract the perfect tenants to your rental property is an incredible location and ideal price point, right? In reality, property managers do not have control over these variables. Thankfully, there are a few simple things that property managers can control to attract their ideal tenant.
#1 Write a persuasive listing
According to a 2017 Property Me study, 91 per cent of potential tenants choose their next rental based on a listing. Therefore, it’s the first step to drawing quality renters to your property. To entice people to view the property, the listing must:
• Contain a headline with a “hook” to pique the reader’s interest
• Be informative, descriptive and concise
• Contain all relevant contact information (i.e. phone number(s), email, etc.)
#2 Take professional photos
Professional photos not only look stunning, but they also allow future tenants to imagine living in the home. According to a Wall Street Journal study, text-only listings hold a tenant’s attention for a mere two seconds. Conversely, those containing quality images hold their focus for at least 20 seconds. So, bring your listing to life by displaying everything it has to offer!
#3 Screen potential tenants
While vital, this is a frequent property management mistake. By failing to put guidelines in place, many managers end up with undesirable tenants. To prevent this, ensure you:
• Examine the tenant’s background, income and credit score
• Call their references to understand what kind of tenant they are
• Ask them questions to build rapport with them, such as: when will they move? Who’s living in the property? Do they have pets? Have they previously been evicted?
#4 Understand the area
It’s important to be ready to answer your potential tenant’s questions regarding local amenities. For instance, you should know where the local schools, shops, public transport, cafés and supermarkets are located. This knowledge allows tenants to envision a new lifestyle and shows them you’re a helpful property manager.
#5 Stay in touch
To succeed in property management, it’s vital to be a good communicator. Ensure future tenants can always reach you and be ready to answer their questions. During the process, you’ll get to know your tenant and assess whether they are suitable for the property.
For more advice on attracting ideal renters, call or email House Estate Agents. We’re your property management experts!
Source cited: https://www.propertyme.com.au/blog/property-management/12-ways-to-attract-quality-tenants