With more people than ever looking to rent instead of buy, landlords must sort through a larger pool of potential renters than ever before to find quality tenants.
The following are some effective ways to help draw in and rent to the highest quality tenants available:
- Offer a High Quality Product
The rental property is the landlord’s product, and it’s crucial that it be competitively priced while reflecting a high level of quality. Properties should have tremendous curb appeal as well as high quality features and accents. They should also reflect continual maintenance and upkeep. Keeping the house freshly painted and with excellent landscaping can also contribute to its appeal.
- Use Online Media
The Internet offers a wealth of opportunities for listing vacant rentals in quality websites that are known and trusted by users. Zillow, Trulia, Rent.com and even CraigsList are all frequented by those looking for a home, apartment or condo to rent. A well-written listing, high quality photos and strict parameters about income requirements will all help to draw in high quality tenants and appealing renters.
- Spread the Word
Asking current tenants who are of high quality for recommendations can help landlords to fill vacancies with high caliber renters. Ask your quality tenants to spread the word both the “old fashioned way” and online to their contacts. Social media sites, forums and local groups are all potential venues for connecting with new tenants.
- Excellent Property Management
Whether the landlord outsources property management or does it themselves, a commitment to high quality is key. Responsiveness to tenant questions and needs as well as addressing problems when they arise is a hallmark of a good landlord, and they are more likely to attract high quality tenants and keep them.
- A Professional Tenant Screening Service
Finding quality tenants requires a careful and comprehensive vetting process that allows landlords to sift through all applicants and zero in on the best candidates. A professional tenant screening service can assist with looking for past financial issues, state eviction records and criminal history records so that the best renters can be determined.
Great tenants may at times seem elusive, but they are out there. These five landlord tips can assist landlords in finding and keeping high quality tenants and running a successful business for years to come.