You are entrusting possibly one of your best assets to strangers when you rent out your property, which may be pretty intimidating. Finding new tenants is not tricky, but finding great tenants is. How can you guarantee that prospective tenants will take good care of your property and pay their rent on time?
As a private landlord looking for the right tenants for your rental property one way to minimise the risk is to request references from a potential tenant’s previous landlords. Other possible checks to make are to ask if the tenant has a connection to the neighbourhood because they have long-term work, family, and friends nearby, which increases the likelihood that they will wish to stay for some time. If you’re looking for a long-term tenant, you need to make your home suitable for such a stay. For your consideration, here are 5 tips to attract and retain the best tenants.
Tips for landlords to attract reliable tenants for their rental properties
These days, everyone expects their homes to have quick hot water. An efficient heating system in good condition will help to keep your tenants happy In addition to providing your tenants with comfortable, hot showers, installing a combi-boiler will also help them keep the property warm and save money on their utility costs. Make sure the property always has its heating working as if it is not then a tenant is much less likely to pay on time and stay in the property long term.
#2. Power showers
Consider power showers if you want to attract power tenants! To a potential tenant viewing the property a specialised bathroom with high-pressure water shows that you’re serious about letting out a property that is the right fit for them. Create the right impression that living in your rental property will provide them with the fixtures and fittings they desire.
#3. New Carpets and Flooring
Invest in new carpet and flooring, It will boost the probability of finding tenants who wish to live there for longer by giving the property a warm, cosy feel. Also, the tenant will be much more inclined to take care of the floors by quickly cleaning up spills because both you and the tenant will be aware of the state of the flooring when you sign the tenancy agreement and hand over the keys. Applying a lick of paint when the property is empty will have a similar effect when you market your rental property and hope to find the perfect tenant.
#4. Branded Appliances
If the tenancy agreement in place includes being fully or partially furnished with appliances then you must keep the appliances in excellent working condition. When they look around the property desirable appliance will make the property stand out. This is also why, even with less expensive options, choose reliable, well-known appliances. Stay on top of this as it only takes a few repair visits to cost more than what it would have cost to buy better from the start. If you let your property furnished make sure you have good quality furniture too. The last thing you want is to miss out on a trustworthy, clean and tidy tenant who will keep your property the way it should be just because a similar property has appliances that look bigger and better than yours.
#5. Top management
Instead of dealing with a landlord directly, most tenants choose to work through a management company. Tenants enjoy the assurance of a prompt and competent response when issues arise. This helps give the renter a good first impression and can help landlords attract higher-paying tenants. In light of this, we advise hiring a professional and trustworthy Letting Agent to handle the tenancy on your behalf. Just consider how much time and effort you’ll save while maintaining your tenants’ satisfaction.
Need assistance bringing your property to market and finding quality tenants?
We’d be happy to provide more guidance on how to find reliable, long-term tenants.