When you own a rental property and are facing a vacancy, getting a tenant into the home as quickly as possible is one of your top priorities. Yet, as any landlord knows, there’s a big difference between having just any tenant in your home and having a quality tenant. If you are facing a vacancy, here are some proven strategies you can use to attract the best possible tenant to your property.
1. Give the Home a Unique Selling Point
When you are trying to find someone to rent your piece of real estate, you are, in effect, selling the property. While the buyer is not someone who will own the home, you still need to appeal to him/her in a similar way. For this reason, find the home’s unique selling point.
For some properties, it’s the location in connection with nearby attractions or amenities. Can the tenant walk to a grocery store? Is the home located near preferred schools? Is there a playground nearby? These are selling points worth mentioning.
If the property is plain and has no unique selling points, consider giving it one. One thing that the best tenants often want is an outdoor living space. Add some patio furniture, a grill and a place to enjoy these items, and make them part of the overall property. Excellent tenants will surely appreciate this.
2. Talk About the Home’s Benefits
When you are listing the property, make sure the listing focuses on benefits, not features. Features are things like three bedrooms or new flooring. Instead, create an add that touches on these features but in a way that helps the tenant picture himself/herself in the property.
For example, an ad might say, “Newly remodeled kitchen, three-bedroom, two-bath ranch in excellent school district, ready Oct. 1.” This tells the features of the home. Instead, communicate the same thing, but with a focus on benefits, by saying, “Give the family plenty of room in this three-bedroom, two-bath home. Send your kids to excellent schools, and cook family dinners in a newly remodeled kitchen.” The same features are listed, but in a way that makes them more enticing. The tenant will read the ad, picture the family in the home and be interested in seeing the property.
3. Make the Listing Thorough
When you list an ad for your property, make it as thorough as possible. Are you including a washer and dryer in your rental contract? Say so in the listing. Does the home have a fenced-in yard? List it. Are you welcoming pets? Add this to the advertisement.
Tenants, even the best ones, are rarely going to spend a lot of time emailing or calling about properties. If there is something they should know about the property, put it in the listing. If the listing is comprehensive, you will get more calls for showings.
4. Show the Property Well
When you do get an interested tenant, take the time to show the property carefully. First, make sure you set aside time to let the individual thoroughly investigate the home. You do not want to come across as someone who is in a hurry to get done with the walk-through. Then, if you will be showing the home while your current tenant is still in it, be prepared for there to be some mess to work around. Let the new tenant know the steps you will take to clean and prep the home for him/her. Finally, establish a friendly rapport with potential tenants. It’s important that they feel comfortable with you before they are willing to sign a rental contract for you as a landlord.
Attracting the right tenant requires careful listing, proper preparation of the property, and a solid walk-through. While this requires a bit of work, the results of having a great, trustworthy tenant are well worth the effort.
About the author:
Jessica Kyriakos is Brand Manager of Superior Site Amenities in McAlester, OK. For 15 years she has worked in the site furnishing industry. The company provides furniture for your outdoor space, including grills, picnic tables and more.