Do you want to know how to get your rental home leased fast, avoid costly vacancies, and increase your profits? Well, you have come to the right place! Hi, I’m Becca, I make owning and managing rental properties simple and landlord life fun.
Anyone can lease a home fast, but if you want your life to be fun and low stress, you need to have the best-qualified candidates coming to see your property. If well-qualified candidates don’t come to view the home, you can’t ever rent to them.
Here are the 3 tips to get the best-qualified renters wanting to see your home:
Determine who your target market is, and what they want, so that you can highlight those features.
While fair housing laws prohibit discrimination based on familial status (children), If you have a four-bedroom house in a great school district, your primary customer is likely a family. You should highlight the features that would matter to that customer such as “fenced back yard with lots of room to play,” “A-rated schools just around the corner means you could avoid car line,”
Notice how I did not just state a feature but also tied it to how it will make the tenant’s life better? Try to link the “feature” to a “benefit.” Such as, “all tile floors are easy to maintain and no carpet to worry about!”
Perhaps your features are being close to the bus line makes getting around easier or utilities included so the tenant does not have to pay a big utility deposit. Every property has something you can highlight. Take a moment to imagine who your ideal tenant is and why THEY would like your property. I know this is hard on some properties. Our tri-plex has one-bedroom units that are nice but I would not be excited to live there. The good news is, I am not the target market! My target market is working-class singles or couples who need to be close to the bus line and want out of an apartment. For this property, I actually called one of our long-term tenants and ask her why she loved the home. She gave me great insights I had not even realized were awesome benefits!
Read more about Fair Housing and Landlords here http://rebeccap5.sg-host.com/landlords-does-fair-housing-apply-to-you/
Make a great first impression through quality photos
If your property looks dark and small in the photos, renters will assume that is how their home will look. Assume renters have NO imagination. You MUST have good bright photos taken at quality vantage points. Great photos can be taken with your phone, if you take your photos on a sunny day, position the blinds to let light filter in and practice lots and lots and lots of different vantage points until you find what works for you and that property.
-take photos when light is bright and shining on the front of the home.
-close all toilet seats (please, please, please do this!)
-remove any clutter from the counters such as soap and sponges.
-Professional photography is only about $125 in my area, and I can use those photos for years if we don’t do a major remodel. Well worth the investment to make a fantastic first impression. The more people that love the photos, the more people will want to see the home and the quicker you will start making cash flow.
Make it easy for the tenant to contact you to schedule an appointment
I know this one sounds basic, but the truth is many potential tenants today are scared to talk on the phone for fear of rejection. Provide them a way to text you for quicker contact. If they do call, be sure to answer the phone when possible. If you wait until later to call them back, they likely won’t remember your number, they will screen your call, and the circle of missed and screened calls will continue until they find a different place to rent. This crazy phone cycle was how I lived my life for years. Let me tell you Mama, it is no fun! I guarantee the only time the prospective tenants will call you back is when you are in the heat of cooking dinner or giving the kids a bath. It never fails. I want voice contact with someone before I meet them at the property but we usually start with text and if they can’t talk at the moment we schedule a time to chat later. This breaks the call screening cycle and allows us to connect.
Check this out…I manage a $2000/month rental where the owner had another property manager trying to lease the home. He came to me because the home had sat on the market for more than a month with no applications. When I looked at the ad, the photos were dark and in no way “wowed me”. Next, I called the agent (from my husband’s phone of course) to act like a potential tenant. No answer, no way to text and no call back until the next day. The owner moved management to me, I kept the price the same, changed the photos and responded to inquiries right away and the home was rented in a week.
Implement the rental property marketing tips and you will see your vacancy go down and your profits skyrocket!