In the property rental business it is much more cost effective to retain tenants rather than search for new ones. Renting your property to a quality tenant implies reduced stress and steady income for a long period of time. However it is important to keep certain considerations in mind to minimize vacancy cycles and maximize profit.
Given here are some of useful tips that can help you attract long term tenants for your rental property:
- Help Them Personalize The House: Although you may have spent a lot of time and effort in decorating your house you should try and give a clean slate to the new tenants. You should try to use neutral shades on the walls, curtains, flooring and other furnishings. You can also provide hooks in each room to hand pictures, shelves to place decorative pieces and storage cabinets to organize all the extra stuff. All these things will help the tenants visualize themselves living there in their own personal space.
- Make The House Habitable: Although it is essential to improve the appearance of your house, it is not enough. You should make sure that you have properly assessed the needs of the potential tenant and make it easy to live in the house. You should ensure that the house has good fixtures, lighting, heating and a clean living environment.
- Allow Tenants With Pets: One of the biggest difficulties faced by tenants is finding a pet friendly rental home. You can attract a number of tenants if you make your property tenant friendly. Also, there are higher chances that they will stay for a longer duration as it is not easy to find such accommodations.
- Provide The Necessary Appliances: Most tenants, particularly those relocating from a different state, prefer staying in furnished homes rather than shifting their own goods. It can also help you rent your property at a better price.
- Timely Repairs And Maintenance: Most tenants stay for long if the landlord is responsible and manages the property well. Whenever your tenant contacts you with a repair or maintenance work to be done, make sure you respond back as soon as possible.
You can also consider hiring the services of The Rental Management Company to assist you with finding a long-term responsible tenant and managing your property.
For more information on how to attract long-term tenants for your rental property you can contact us at (361) 949 – 9050.