How to Find Tenants for Your Rental Property
Finding Tenants: Creative Rental Marketing Strategies
The rate of residential vacancies has increased across Australia, proof that the real estate market has become more competitive than ever. Landlords must use creative apartment marketing strategies to attract the attention of their target tenants and to keep them for as long as possible.
How to attract renters to your property
Tenants are also becoming more discriminating in their choices and, thus, less likely to be taken in by the property’s physical appearances alone.
Find Me A Tenant: Marketing Your Rental Unit
For this reason, you should think along the lines of contemporary cost-efficient, results-effective sales and marketing strategies for your rental unit instead of sticking to the tried-and-tested traditional means. Here are a few of these strategies that you can try.
Put Yourself in the Tenants’ Shoes
What will your target tenants be looking for in desirable residences for rent? What are the common characteristics of your target tenants? You must ask these questions in order to come up with a property improvement plan designed to find tenants for your rental properties.
Based on recent studies on apartment showing tips to attract quality tenants, these are the common features that good tenants look for in residences for rent:
• Clean exteriors and interiors
People want to live in clean homes and, thus, will be more willing to rent when the apartments are clean on the outside and inside. Regular maintenance procedures, such as painting the walls, fixing the leaks, and sweeping the driveway, are a must. The apartment complex will be ready for walk-in clients in this manner, too.
• Sufficient security features
Tenants will appreciate effective security measures in place even when it’s a relatively safe neighborhood. Your investment in alarms, fences, and deadbolt locks as well as security cameras will be recouped in no time at all when your tenancy rates increase.
• Plenty of parking
In case of city apartments, parking space for each tenant is a must. This isn’t such an important aspect in suburban areas since many jurisdictions allow parking on the sidewalk at night.
• Open floor plan
Tenants can easily adapt the interior spaces according to their own needs and wants when the apartments have an open floor plan. You can discuss certain home improvement measures that will not adversely affect the apartment’s open floor plan, a must for the next tenants.
You must also look into roomy closet space, full-featured bathrooms, and even bunk beds in kids’ rooms since these are also desirable for young families.
Of course, your apartments’ physical aspects aren’t the only selling points. You, as the landlord, should also be part of the package, so to speak. Your affable personality coupled with your professional approach to the tenants will also be considered in their decision to rent to not to rent the apartments. So how do you attract tenants for commercial rental property in a tough market?
Tips for Attracting and Keeping High Quality Tenants
Put Your Property Out There
When the apartments are as attractive as can be, your next step is to put them out there and, thus, let your target tenants know about the property. You should use a combination of the traditional and digital marketing methods for best results.
• Place signage on your property as well as in other areas. Be sure to place the location and contact number so that interested individuals can easily communicate with you or your staff.
• Tap your personal and professional network. Looking for the best way to find tenants for rental property? You should take advantage of your circle of family, friends and acquaintances since they can generate low-cost, even free, advertising. Your ideas can include emails, postcards and flyers.
• Use the Internet. Do you know you can find tenants online fast? You cannot have a successful business nowadays without the Internet being involved in it. You can advertise on Craigslist, real estate website, and social media platforms including Facebook, Twitter, and YouTube, as well as create your own website.
• Give an open house. You’re inviting prospective tenants looking for private landlords to come into a designated apartment and consider the possibilities that becoming a tenant will come their way.
And be patient! Tenants will not immediately be beating down your door but they soon will be. These are some popular ways to attract good tenants for your commercial rental property without agent almost for free.