5 Tips to Help You Attract the Best Tenants for Your Rental Property

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There’s a saying, that you attract what you put out there. If you put yourself out there as a successful and respectable landlord, then you’re likely to attract the same in your tenants. You’re likely a high-quality landlord or property manager if you’re open and honest about your properties, you see to it that all maintenance is done, and you keep an open line of communication between you and your current or past tenants.

You should have the qualities of a good landlord whether you’re the owner of one single-family home you’re wanting to rent out, or even if you’re the owner of a duplex or a commercial/mixed-use property such as an apartment. You may even be looking to invest in a commercial property someday; all options are lucrative ways to invest in real estate. Here are a few things you can do to help attract the best tenants for your rental property.

1. Be specific in your listing

Whether you’re listing a property on Airbnb as a short-term rental, or if you’re looking for tenants to live on your property long-term, you need to be very specific in your listing. This is truly the real first impression your future tenants will have of you, so it’s important to make it count. Being specific is not the same as being descriptive, and being overly descriptive can turn potential renters away. If your property has some unique features, it’s okay to list that, but don’t make it out to be any better (or worse) than it actually is.

Your listing should also include quality photos. This is a way to showcase the best features of your property. High-quality pictures can also let future renters know that you’re a high-quality landlord, therefore letting them know that you expect them to be quality tenants.

2. Prepare the property in the most desirable way

Even real estate agents “stage” the homes that they show to potential buyers, and as a property manager, you should do the same. Staging doesn’t have to be deceitful; you just need to showcase your property in the best way possible. This is a form of marketing, and you’re marketing your property to attract the best tenants.

You should make sure that all appliances and amenities are in great working condition, so there won’t be a need for maintenance as soon as the tenants move in. Your property should also be clean. Most quality tenants tend to notice even the smallest things that are out of place.

3. Consider individual property showings

Individual property showings will attract tenants who are serious about renting, as they will need to be at the property at a specific time to see what it has to offer. On the other hand, open houses allow for people who are not truly interested in the property to view it, and they can decide on the spot if they want to rent or not. With more and more people wanting to rent these days, it’s even more important to find quality tenants.

Property showings that are scheduled beforehand also give you the opportunity to screen your client. As mentioned above, first impressions matter, so quality tenants who are serious about renting will make sure to put their best foot forward. Even if they seem like a quality tenant after the initial screening, it’s still important to do a more thorough screening. Other things to look at include:

• The tenant’s credit history
• Statements from previous landlords
• Information on the tenant’s income

4. Create informative handouts

To show that you’re a quality property manager, you can create informative handouts about your property. You can include things like property features, what’s included in the rent, the start date of the lease, any necessary fees, the allowance of pets and any fees required for them, and policies. Other things you can decide to include are your expectations of tenants. This way, there’s a tangible piece of information that potential renters can take with them and decide if your property is a good fit.

5. Be prepared for questions

If you’ve had experience with rental properties, then you probably already know what questions to expect from potential tenants. Still, some may catch you off guard, so it’s important to try and put yourself in their shoes. What would you want to know about a property that you’re getting ready to rent, especially if it’s one that you’re likely to rent for a while?

You should have an idea of what amenities and recreational activities are nearby. It’s important to have a general understanding of the neighborhood your property is located in because not knowing can make you seem like an uninterested landlord. You should also have any relevant paperwork on hand, just in case the potential tenants ask.

If you present yourself in the most professional way possible, you’re likely to attract like-minded tenants. Along with projecting a certain image, you should still verbally communicate your expectations of your tenants, and also what they can expect from you as a landlord.

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