As a landlord, finding quality tenants can feel like a bit of a mission even at the best of times. You might have heard that the best way to attract quality tenants is to have a property that is of high quality, in an ideal location and at a reasonable price point. Although, in reality, very few properties actually possess all three qualities, so it’s important to use other methods to attract renters to your property.
While you might not have control over variables such as price and location, there are a number of things that you can do to make your property more attractive to quality tenants. Below, we’re sharing our top 7 tips on how to attract quality tenants.
Establish a tenant criteria beforehand
Before listing your property or planning viewings, it’s important that you have an idea of what kind of tenants you’d like to attract. Knowing this will help you to narrow your focus and create a target market to keep in mind when it comes to writing the listing copy.
Make the most of professional photography
You could have an absolute gem of an investment property, but if you use poor-quality photos, it could be passed over in favour of an inferior, yet professionally photographed home instead.
A professional real estate photographer will highlight the best features of your property, which can then be used in your listing and other marketing materials. By using quality images, potential renters will be able to picture their lives in your property – they won’t be able to resist falling in love with it!
Look at ways in which you could provide extra storage
For renters, storage is always a challenge, especially in apartments. You can help to make life easier for potential tenants by providing ample storage options. This could be built-in wardrobes in bedrooms, extra cupboard space in the kitchen, linen closets in the laundry and medicine cabinets in bathrooms.
If your property has a backyard, it’s also worth considering putting a shed in, where tenants can store bikes and sporting equipment, and/or bulky items that aren’t often used.
Ensure your property’s security is up to scratch
For good quality tenants, security is a top priority. If they have valuable items they want to protect, it’s likely that they will want to live in a high-quality, secure home.
This doesn’t mean installing bars on the windows (you don’t want to give the impression that the neighbourhood isn’t safe). Rather, you should ensure that all doors and windows have deadlocks and crime-safe screens installed, and depending on the location, you may wish to install an alarm system too.
Keep your property well maintained
When you take care of your property and stay on top of repair and maintenance work, you’ll find that your property is easier to rent out at any time of the year.
This also includes refreshing your property between tenants too. Even just splashing on a new coat of paint, replacing the smoke detector battery and light bulbs, changing the batteries to air conditioning and garage remotes, cleaning floor coverings, steam cleaning furniture in furnished properties and making sure windows and blinds are clean will not only attract quality tenants, it shows you care and will also save you money in the long run too.
Include modem amenities and add ons
In order to attract quality tenants, you can use add-ons to show that you care about the welfare, comfort and convenience of your tenants. These add-ons could include a dishwasher, washer dryer, and updating box air conditioners to split systems.
While these add-ons are an investment, they will boost the value of your rental property and will help in increasing your rental yield in the long term.
Partner with a good quality property management team
The best way to attract quality tenants (even in a quiet market) is to keep them happy and ensure that they have good, two-way communication with your property manager. Therefore, it goes without saying that choosing the right property management team is imperative to attracting the right tenants to your property.
When it comes to marketing your property, your property manager will know what you need to do in order to make your property stand out. From the creation of a marketing strategy for advertising the property to attracting a suitable, quality tenant, with a seasoned property manager by your side, you’ll be able to: come up with a compelling property description, find a professional real estate photographer, find tradespersons to help with any repair work and find and vet suitable applicants.
Are you looking for help in renting your investment property? The team at Thrive Property NT supports homeowners across the Greater Darwin region. If you’re looking for a Property Manager to take the stress out of managing your investment property, who will provide the highest level of tenant screening, get in touch with our Property Management team today – we’d love to help!