Tips for Attracting Quality Tenants to Your Property
A quality tenant means different things to different people. However, most property owners agree that a quality tenant pays their rent on time, relates peacefully with their neighbors, cares for their residence, and respects the lease term. Below are tips to use to attract such tenants.
Offer High-Quality Amenities and Maintain the Property
Quality tenants won’t settle for anything less than quality houses. Ensure your property offers quality services and amenities. Consider concierge services, natural lighting, and outdoor living spaces. Maintain the property so it’s always as close to its original condition as possible.
For example, you don’t want a tenant thinking that your property used to have a backyard waterfall that is now defunct. Otherwise, your tenants might think the entire property and its amenities are failing.
Provide What the Tenants Want
As much as you want to provide the best amenities and services for your tenants, you must only provide what the tenants want. Do not fashion the house according to your taste. Rather, research the market and find out what your target tenants crave. That way, you ensure you only provide what the tenants find valuable.
Mind the Competition
Your competitors can affect your clients directly and indirectly. For example, your competitors might draw tenants away from you if they offer better amenities and services within the same price range. You might price yourself out of tenants if you don’t consider competitor rental charges. Research the competition to know what you are up against.
Build and Maintain a Strong Reputation
A good reputation is a valuable gem for attracting quality clients. Do not associate your business property with anything that might damage the property. For example, prospective clients should not know you as the property owner who evicted a tenant under inhumane conditions. Tenants should automatically get positive thoughts when thinking of your property.
Market the Property Right
Your marketing efforts determine whether your target tenants know about your property and find it desirable. These marketing tips can help you attract the right tenants:
- Encourage quality tenants to refer similar tenants to your property.
- Highlight your property’s unique amenities and services in your marketing content.
- Network with major employers in your area and encourage them to refer your target tenants to your property.
- Ensure all your marketing efforts, including photographs, graphic design, and marketing copy, look professional.
- Market your properties in the right places where your target clients can see them.
- Highlight the neighborhood’s attractiveness in addition to your property’s attractiveness.
Doing some good marketing research will point you in the right direction.
Thoroughly Screen Applicants
Don’t accept tenants simply because they can afford the rent. Instead, screen prospective tenants to ensure you only accept the ones who fit your description of a quality tenant. Here are a few helpful screening tips:
- Understand and comply with tenant screening laws.
- Get express screening consent from prospective tenants.
- Decide beforehand what you consider deal breakers to hold everyone to the same standard.
Use a professional background screening service to minimize mistake risks.
Provide Top Notch Customer Service
Quality tenants expect and deserve first-rate customer service. For example, your tenants should easily reach you anytime they have concerns. You should also address your tenants’ concerns thoroughly and timely. For example, a tenant should not have to complain about a maintenance issue multiple times before you address it.
Use Professional Property Management Services
Property management might look easy on paper to those without relevant experience, but it is not. Don’t experiment with inexperience, for example, by going the DIY route if you lack property management skills. Hire a professional property management company that can do all the above to help you attract quality tenants.
New Leaf Properties LLC has great experience managing residential properties. We have a great reputation for professionalism among our clients. Contact us to determine how to protect and grow your rental property business.