Note: This blog post is a sponsored conversation written by Lynn Smythe, the Founder and Chief Blogger for The Creative Cottage lifestyle blog. The opinions, thoughts, ideas and text are all mine.
For landlords and investors, maintaining and dealing with a property is one thing, but attracting potential tenants is a different challenge altogether. If you’re looking to try and make your property more marketable and attractive, why not look at some of these ways to get your home turning heads. Here are the top tips to effectively market your rental property to potential tenants.
What Potential Tenants Want
The best way to get possible tenants or renters interested in your apartment or house is to look at why they are moving to the area. This is an excellent place to start, as you can then base any new renovations or improvements around their specific needs to make your home, condo or apartment more suitable to potential renters.
A good example to note would be the rise in compact, studio apartments for college students and young professionals that are living in the city. Inspired by Japanese culture, many desire a small space that they can maximise in terms of efficiency to suit their busy lifestyle. Property investment companies such as RW Invest have adopted a ‘minimalist’ approach in some of their apartments, which cater to potential tenant’s needs and make use of the space as much as possible.
Downsizing, AKA Marie Kondo’s Kon Mari method, is very popular right now so, think about what your tenant might want in relation to the area and their reasons for moving, and don’t overcomplicate your space with unnecessary additions, as you’ll also save money in the process.
For first time investors, or those looking to find a new property, considering the real estate market and current success of certain areas is extremely important. London, for example, despite its tourism draws, might be a city worth avoiding, as its house prices rise and rental yields for landlords fall. Many people looking for their next rental are looking towards northern cities such as Liverpool, Manchester and Leeds, which seem much more promising.
Provide the Right Amenities
Investing in the newest technology and kitting out your property is a great way to make it stand out from the crowd. Cable and/or a high-speed internet connection might seem like something low on the list of priorities when choosing a new home, but nearly everyone uses and relies upon it on a daily basis, and for many students, it is a necessity for getting work done on time. Having a fast, reliable internet connection, perhaps with accessible wi-fi points for hooking up computers and devices, will help your tenants to visualise how they can use the space to their advantage when moving in.
Equipping your home with a smart meter is another helpful but straightforward step. Not only will it provide you and your tenant with accurate utilitiy readings and data, but it can help you to make more cost-efficient decisions when it comes to energy suppliers, and removes the need for manual readings, saving time.
Secure Your Rental Property
It goes without saying that we all want to feel safe and secure in our homes, and so an important step to consider, both for yours and the tenant’s peace of mind, is that any property you have is secured through the correct measures. Make sure all windows and doors are secure, with substantial locks fitted on the latter, and ensure any smoke alarms, smoke detectors and fire extinguishers are working as they should.
Smart technology could also be a good way of monitoring your property, again both for you and the tenant, when away. Video doorbells and CCTV camera systems can now be paired up directly with your smartphone, activated by motion detection, (which consumes less power) and are free from excess wires and storage boxes, making them less intrusive on the look of the property. State of the art amenities such as these security options will without a doubt, make your home seem more attractive to tenants.
In some cases, having a direct line of contact for the tenant to contact the landlord or property management company might also be beneficial. Not only does it allow you to get an idea of the person living in your property and keep an eye on them, but it means that if there are any issues with maintenance or damage to the home they can inform you straight away, and the problem can be resolved as quickly as possible to avoid further cost.
Whether you are trying to rent out or lease your home, apartment or condo, follow these tips to effectively market your rental property to potential tenants.
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