Renting out your property is often a beneficial financial decision that allows you to receive a positive cash flow—even after paying for maintenance expenses, taxes, and other property-related fees. Since renting out your property comes with certain financial benefits, competition steadily increases each year as more landlords continue to emerge on the market. It’s important to set your property apart from the rest to maximize your occupancy rate, so we offer some tips on how to attract more people to your rental property.
Write an enticing listing
Your listing provides your property’s first impression on potential renters. If your description appears outdated, lackluster, or vague, you might accidentally send them the wrong message. To compose a listing that will attract more people to your rental property, make sure to include an attention-grabbing headline, an informative property description, and up-to-date contact information.
Include desirable features
People want to rent properties that include desirable features such as home movie theaters or spa bathrooms. To get an edge up on competition, consider renovating your space to include such attractive components. While upgrading your home may require an initial investment, doing so will add value to your property and help you increase your rental yield over time.
Invest in professional photography
If you don’t include any pictures of your property, potential renters probably won’t give your listing a second glance. If the pictures you include have poor lighting and look bad, however, they might do more harm than good. To paint your property in the best light possible, consider hiring a professional photographer. They will know the right angles, lighting setups, and camera techniques to make your property look like it came straight out of a magazine.
Maintain your property
People don’t want to live in a property that isn’t taken care of. If you don’t regularly maintain your property, you have a greater risk that things will break while your renters live there. Such issues could sour their experience and result in lost-business or harmful online reviews, which can wreak havoc on your renting potential. Regular maintenance is essential.
Implement effective advertising
When advertising your property, it’s important to play up its most-desirable features. Perhaps it’s located in a great neighborhood, includes exciting amenities, or has an impeccable security system. Highlighting your property’s best features when creating an advertising plan will help attract potential tenants. When advertising your property, don’t forget to also advertise yourself. People don’t want to rent a property from an unreliable or problematic landlord. By assuring potential tenants that you’re professional and responsive, they will be more likely to rent your property.
Enhance your curb appeal
Prospective renters will more likely want to take a closer look inside your property if it has at attractive exterior. You should ensure that you never neglect the curb appeal of your property for this reason. To give potential tenants an attractive view from the street, consider giving your property a fresh coat of paint, updating your outdoor lighting fixtures, or switching out your door.