Attracting desirable tenants is harder than it looks for most property owners. While there are external factors that could prevent tenants from applying for residency in your building, there also some things that are very much within your control as a property manager. Follow these tips to ensure that your rental property is a desirable home for future tenants.
Maintain Cleanliness and Curb Appeal
First impressions are everything when it comes to attracting the right tenants. You’ll want to make sure your property image is a reflection of the type of individuals that you’d like living there. Remove weeds and external garbage. Consider landscaping. Regularly inspect and update paint and fixtures, and make a reasonable effort to ensure that your building keeps up with modern expectations.
Keep Quality in Mind
Good tenants appreciate housing that enables them to actually be good tenants. If you’d like to avoid overflowing dumpsters and a steady influx of food delivery persons, make sure that your kitchens are well-equipped for cooking. If you’d like tenants that will outfit their residence in tasteful decor, provide them with neutral wall palettes that will allow them to do so. Other quality considerations include:
- Matching hardware
- Matching (or coordinated) appliances
- Properly maintained internal structures like ventilation shafts and piping
Consider Your Current Residents
A really good way to attract desirable tenants is to ensure that there are other tenants with similar interests already living in your building. It serves as a physical testament to the suitability of your property if other like-minded individuals are already living there and enjoying it. Solicit feedback and reviews from good tenants, and ask for permission to syndicate their feedback on the applicable rental sites.
Know Your Competition
Check out the listings for similar rentals in your area. Assess the positive features they are using to attract tenants, and determine whether your building has better or worse features. If yours are better then make sure to include them in your listing. If yours are worse it’s best to leave them out. Do the same thing with the most desirable listings in your area. What is it about them that makes people want to live there? What does your property have that compares? Knowing how your units are similar and different from the local competition will help you leverage positives and mitigate negatives to attract the right tenants.