Successful investors and landlords understand what it takes to offer an attractive home that delivers strong rental income, and they pay close attention to the quality of their tenants.
Whether they intend to work with the tenants themselves or use a property manager, they’ll look at the deal from the tenant’s perspective.
A tenant’s journey begins with the listing. Does the photography make the property look appealing? Does the description adequately describe the features and the benefits of the location?
Quality tenants regard a detailed description as a sign that the landlord is organized and communicative.
Once at the property, it must be clean and secure – two factors that are non-negotiable.
Here are seven aspects of renting a property that experienced tenants will appreciate:
Get into the details – Always be specific about the number of bedrooms, the square footage and available storage space and parking. If you can create a video walkthrough, or even invest in a 3D tour, you’ll likely attract the best tenants.
Watch your language – Don’t fall into the trap of over-selling. Terms such as “junior bedroom” are a red flag. Many folks will think that room is little more than an upgrade on a broom cupboard. Keep your descriptions straightforward.
The right image – Investing in quality photography is essential if you want to maximize your rental income potential and find trustworthy tenants.
Neighborhood amenities – Most renters put location high on their list of priorities. The proximity to public transit, freeways, stores, and cafes and restaurants attract potential renters. They love convenience, but don’t be too liberal with your descriptions. A Google search will test the truth of your statements.
Key features – Potential tenants will usually have a list of “must-have” and nice-to-have” features. Lots of natural light, an upgraded kitchen and a clean modern bathroom are priorities. Beyond these basics, tenants appreciate A/C, an in-unit laundry, a balcony or outdoor space, and ample storage.
The lease – In your original listing, you should state any deal-breakers, such as rules and regulations around the number of occupants, pets, smoking and visitor numbers. You’ll be letting folks know where they stand, and there won’t be any surprises down the road. Be clear on the length of the lease.
The money – Be crystal clear about the money. State clearly the monthly rent and the deposit. Are there any one-time fees? Is there an additional charge for a pet? Some landlords want to charge extra for parking. And the question often asked is, who’s paying for utilities, such as the water service?