Owning a property that is rented out for a profit can be a lucrative and rewarding career for people who have the knowledge and passion required. Anyone who is just starting out may concentrate on finding the perfect property without thinking about how to attract great tenants. Finding renters can be made easier when the property is maintained, the listing is appropriate, and expectations are clear.
1. Maintain the Property
Whether the property is a giant apartment complex or a ranch house on a small lot, presentation is everything. If potential tenants arrive to find the property looking dirty and unkempt, they are unlikely to form a high opinion of it. It is easy to get a lawn that is neatly mown and free from litter, and that can make a big difference in how the building is perceived. Apartment complex owners should consider hiring someone to do street sweeping Washington so that parking lots can be kept clean and appealing.
2. Post a Catchy Listing
In the digital age, it is possible for prospective tenants to browse for a place to live online. Depending on the area, there could be hundreds of different options for them to select from. People browsing for listing online often look at the pictures first and pass by anything that does not look ideal. Take the time to take high-quality photographs of the inside and outside of the property to make the best impression. Write an accurate, compelling description of the property, and try to find ways to make the listing stand out from the competition.
3. Have Clear Expectations
Each property is different and will attract a different type of tenant. Make the expectations clear about what sort of tenant is acceptable. If smoking and pets are absolutely not going to be allowed, make that known ahead of time to dissuade people from trying to bargain about the terms.
4. Know the Local Area
When people are looking for a place to live, they usually like to know more about the area they are considering. Thorough knowledge of the area is a must when talking to tenants about what to expect in their neighborhood. An apartment in the heart of a college town will be a much different place to live than a home on a quiet suburban street. Be prepared to talk about the atmosphere, local schools, restaurants and recreational activities.
Finding good tenants can be a challenge sometimes, but taking steps to attract the right type of renters can be very helpful. Present the property properly, learn about the local area and question prospective renters about the rules to give the relationship a good start.