Are you tired of waiting for your property to get rented out? Do you feel like you're losing potential income with every day that your home sits vacant? If so, you're not alone. As a landlord or property owner, finding the perfect tenant for your home can be a time-consuming and frustrating process.
But, what if I told you that there's a way to make your property the top choice among rental agencies and tenants, both prospective and existing? In this blog post, we'll explore practical tips and strategies to help you get your property rented out faster and maximise your income potential. Keep reading to find out how you can make your property stand out in the competitive rental market.
Get Your Property Ready
Look at your property with the eyes of a prospective tenant. What needs to be changed, removed completely, repainted or readjusted? Is the electricity and plumbing functional? Would anyone want to come in on a drive by? Your property has to be visually appealing before anything else, so you should consider that factor. However, try not to overdo the aesthetics.
Understand the Current Market Price
As much as you want to rent your property out for the most money that you can, you have to familiarise yourself with the prevailing market price in your neighbourhood. Check the rental prices of comparable properties in your area and use it as a guide to set your price. Remember to set prices not set too low nor too high.
Advertise to Your Target Audience
The internet and social media are saviours in this regard. Most times, tenants often belong to some sort of group on social media, especially Facebook. Post ads where they will be easily seen, and remember that word of mouth is the biggest form of advertising.
Ensure You Advertise Beforehand
A common mistake among homeowners is waiting till the last minute before they begin to advertise. A proactive landlord knows to keep the lease cycle going, and does this by keeping an eye on tenancy contracts. Your tenants should give you an update about renewing their contract or vacating at least three months before the contract expires. And once they do, so as not laze the time away, get the word out. Let people know when the house will be available for occupation.
If you own multiple properties, are a busy business owner or you simply cannot deal with the hassle of leasing properties and the enormous paperwork and checks and certifications that come with being a landlord, we can help you with that. You just have to contact our agency.
Take Care of Your Tenants
This may sound like something out of the blue, and may not be welcomed. Especially if you have had bad tenants in the past. But this tip is perhaps the most important of all the tips you have read so far. Why? First, tenants know other tenants, and when a tenant has to move, either for personal reasons or for work reasons, they can help you get new tenants. Second, satisfied tenants stay longer in their homes, minimising the need for you to go looking for new tenants. And a good landlord-tenant relationship goes a long way in satisfying and seeing to the mutual happiness of both parties.
Remember, if it looks like too much, you can always ask us for help.