The tenants you attract to your rental property can make or break your investment. A problematic tenant can be a nightmare. They can cause all manner of headaches and usually rent for a shorter term before taking off.
On the other hand, a good tenant is every landlord’s dream. They will take care of your home like they would their own, notify you of maintenance issues, pay rent on time, and rent for a longer amount of time.
The million dollar question is – how exactly do you attract a long-term tenant? Well, this is what today’s article aims to answer.
Here are 7 tips to attract a long-term tenant to your rental property.
Tip #1: Refresh the look and feel of your property.
Does your property look like it has seen better days? If so, consider investing in projects that can help refresh its dated look. No quality tenant would want to live in a home that looks all beat up and faded.
Check the paint work. Does it look chipped and uninspiring? If so, this may be the best time to revitalize the look of the walls. What about the lawn? Does the grass look green and well manicured? If not, consider hiring a professional to do the job for you.
In addition, check to see whether certain elements in your home require some repairs. Check everything from the door hinges to light bulbs to the faucets. Take the time to give the space a facelift, and the quality tenants will come pouring in!
Tip #2: Market your property to the right audience.
How you market your property can also determine the kind of tenant you land. Therefore, it's important to take the time to plan your marketing strategy.
For starters, do a bit of research on the current neighborhood surrounding your property, and see what other properties in the area are doing on their listings. This can provide you with examples of what works, and also may help inspire you in your own listings.
Next, begin drafting a rental listing that aligns to your objective and is unique from the current offerings. Include a catchy headline, a detailed description of the property, and a bunch of quality photos. Don’t also forget to include important information or features of the property. For example, the location, number of bedrooms, rent amount, nearby amenities, and available appliances are all valuable things to put in a property listing.
Once you have your listing prepared, consider having a professional look it over before you start the marketing process. If you are just starting out as a landlord, this can be an especially valuable service.
But why? You see, there are certain statements that, however innocent they may sound, may be actually discriminative to prospective tenants. For instance:
- Ideal for a professional
- Not suitable for children
- Christian neighborhood
All these statements are considered discriminative, as outlined by the Fair Housing Act.
Once you've ensured your listing is ready, and free...
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