As a rental property owner, one of the worst things you can have is frequent vacancies. That’s basically a boat with a hole in it. One of the best things you can do to combat this is ensuring that your property is attractive to as many socioeconomic groups and generations as possible. Have “something for everyone,” as they say. Fortunately, most tenants tend to gravitate towards similar things as far as what they consider to be essentials. Focus on these elements, as well as a few above and beyond, and you should be able to make your property a standout in the eyes of potential renters.
Strong online presence
If you can’t attract attention to your property in the first place, you’re done. It’s as easy as an online renters application to become a potential tenant these days, so make sure your property’s website shows it in the best possible light. You’ll want detailed pictures of rooms and amenities that show what makes your property unique. Include accurate information about the cost of rent, and be straightforward about your policies. You’ll also want to network with the most popular property websites to lead potential renters to your property. You might consider some property management software to help with this process.
Your amenities will be a make or break for most potential renters. Obviously, there are some absolute essentials. These include central air conditioning, and access to high speed internet. Once you have your essentials covered, you can focus on what makes your property unique.
If you provide in-unit washers and dryers, show them off. Even an empty area where tenants can include their own is better than nothing. A dedicated parking area is also a big plus. Any other utilities you can include in the base rent will be appreciated. With the explosion of technology in recent years, the vast majority of renters of any age will likely own at least one Bluetooth enabled device. Home automation technology can be a big advantage, especially if you’re a new property owner. Voice assistants are convenient for all ages, and technology
smart lights can keep bills lower.
It’s also a good idea to do anything you can to show off the benefits of your location. Tenants love to be close to restaurants, coffee shops, and other points of interest, and these can be major factors in determining if they want to rent from you. Make sure to point out any interesting locations within walking distance to your property. This will be especially crucial if you aren’t able to offer dedicated parking for residents. They’ll need to know what public transportation they can rely on in your area as well.
It should come as no surprise that renters need to feel safe on your property. Make sure to highlight all of your security features. Including smart security options can be a big point in your favor. If you’re using more traditional security measures, ensure that locks are being changed between tenants. Outdoor video cameras, for doorways or driveways, can help resident feel safer, as can a gated entrance.
Finally, establishing yourself as a reasonable landlord will make a huge difference in the eyes of potential renters. A huge point in your favor can be having a flexible pet policy, since dogs and cats are so popular. Allowing large pets in particular can lead to a huge increase in interested parties, as up to 82 percent of tenants have had difficulty finding a property that accepts large pets. Be straightforward about any pet deposits or limitations, and you may find your property a very popular rental.
As a general rule of thumb, the more options your tenants have, the more likely they are to enjoy their stay.