While it is not often admitted, a lot of real estate success can be put into the hands of your tenants. Being able to find the most reliable and suitable tenants for your rental or leased property can make or break your ability to stay in the black. To find those perfect tenants that will last a lifetime, we’ve broken down some real estate basics for you to ingest.
- Market to THEM: Your tenants need to know that you’re not only working hard to get them in your property, but that your property is also worthwhile. Create flyers or ads that are visually appealing, but also offer the details on a property that a future tenant would want to know immediately.
- Promote your ad: Just like any other marketing technique, if no one reads or hears your message, why would anyone show up? If you want high quality tenants to appear at your doorstep, make sure to put your information out on reputable sites and other valued marketing areas.
- Sell them on your home: We know that you LOVE the home you just purchased, but that doesn’t mean everyone shares your immediately enthusiasm. Work hard to really sell the amazing qualities of your home to your prospective tenants. If you’re having trouble figuring out how to articulate your home’s best qualities, here are a few questions to ask yourself:
- What do I like best about this home?
- When I first think of this home, what comes to mind?
- What is unique about this property?
- Invest in high quality photos: If you want your property to stand out from the rest, make sure to the have the best pictures available. High quality photos can make or break a prospective tenants decision to even visit your home. Think outside of your camera phone, and look to hire a professional photographer, if you’re really want to bring out the best in your property.
- Give out the ‘deets’: Don’t be skimpy with details on a property. If you feel that you’re being too wordy, tell the little voice in your head to be quiet and keep the information flowing! Inform your tenants on what they can expect from the property, from head to toe:
- Overall Square Footage
- Number of Bedrooms and Bathrooms
- Kitchen Details
- Living and Additional Space
- Details on the Neighborhood or Location
- Parking Information
- Renovation Details
- Upgrade Details
- Unique Aspects of the Property
- Post the price: Believe it or not, this is not always common sense to real estate owners and landlords. Don’t shy away from what it is going to cost your potential tenants to live in your building. After all, do you want to waste your time with prospective people who have no ability to afford your property? Weed out the people who will not be moving in by always showcasing the price.
How did you manage to find some of your best tenants? Are they still around today? Try and incorporate methods of catching the good one’s into all of your real estate listings!