When it comes to the rental game,
you’d like to think you have it all. You managed to not just
secure a
great place for you and your family to live, you also have another property in
a hot city or town that’s just waiting for renters. You’ve spread the
word to friends and family, have a post with plenty of photos on your local
Craigslist page, and now you’re just waiting for the renters to show
themselves. You know that these things take time, but you feel like
you’ve been waiting to rent it out for a while.
If you have a rental in a popular
location, you have a lot of competition. There are real estate developers
and companies that spent thousands in advertising, so it’ll be hard for an
independent renter to get seen. If you’ve been waiting for renters to
apply for a while, it may be time to think about your strategy in a different
way. You may not be advertising yourself the right way, or your rental
property may need a little bit of work. Either way, if you’re ready to
stand out among the competition, make sure you follow these steps.
Consider a staging
Your rental apartment or home
looks gorgeous when there’s furniture or decor, but right now it’s a bit
sparse. You may be missing out on renters because they can’t see
themselves living in your rental property. Furniture isn’t just a decor
statement, it also says a lot about the people that live there. A staging
could fill your home with the latest styles in home decor, and could make your
property look much more appealing.
Fix it up (more)
You may be the kind of landlord
that doesn’t mind if renters do some repairs or decor changes to make their
homes look beautiful. You may expect your renters to take the reins with
decor, but you may have to make your own decor changes if you want to attract
the right people. You may have made sure your home is up to code and in
good order, but if it doesn’t look attractive you won’t find renters. Try
out an accent wall, or maybe a different kind of light fixture.
Be the right kind of landlord
Do you know how many young people have a checkbook just so they can pay their rent? Be the landlord who can accept rent payments online. Some of your potential renters have dealt with landlords that would make tenants wait weeks before repairs were done. Instead, allow renters to make their own repairs. Sometimes it isn’t the property people are worried about, it’s the nightmare landlord they have to deal with.
Set yourself apart, then you’ll find your loyal renters.