Nothing makes or breaks the success of a landlord more than the tenants. Tenants ultimately decide the success or failure of your business, regardless of the state of your property. Of course, as a landlord, you can do your fair share and make your property appealing to reel in potential renters.
Here are a few ways you can place an awesome tenant in your rental property.
More and more properties are going green, and with cheaper amenities available, going green has never been closer within your grasp. Today’s environmentally conscious renters seek energy-efficient properties. Solar panels are a popular option, for example.
Over the years, solar panels have become more affordable, and in some places you can save thousands of dollars over the years. If you live in a particularly sunny city, consider solar panels to save you and your tenants’ money. Hint: you can also raise your rent to in order to make up for the cost over time.
Don’t want to make the jump to solar panels just yet? There are still other options available that can save you and your tenants’ money and still help the environment. Investigate energy-efficient appliances such as lighting, plumbing, water, gas, and electricity. Simply buying a modern toilet can reduce the amount of water waste.
To really dazzle your candidates, go with xeriscaping. Xeriscaping is the process of landscaping a property using the native flora that natural resides in your climate. With the increasing knowledge of our impact on the environment and the impending drought that has plagued many states, more people are turning to xeriscaping as a way to get the best of both worlds.
Don’t waste any more money on lush green lawns that require too much water to keep fresh in a desert climate. Instead, hire landscaping experts who understand your area and will create a beautiful yard of native plants.
Make Your Property Look More Spacious
As the amount of renters rises, space becomes less available. It is not unusual for three or four tenants to live together at a time for many years. Also, more tenants want to have the ability to entertain their friends in their apartment.
Therefore, it’s conducive to your property to open it up as much as possible. One popular way of doing so is to remove hanging cabinets that block the living room and dining room from the kitchen. By simply getting rid of the cabinets, you create a space that is more open and more inviting.
List How Close Your Property is to Local Life
Millennials, who make up the largest renting population, are renting well into their thirties. In addition, many of them do not marry until they are in their thirties. This means that tenants typically have more disposable income to enjoy their leisure time.
They like to be near friends and culture. Be sure to list your property’s proximity to nightlife, lively neighborhoods, and highlight the culture of the neighborhood your property resides in.
Is your property just a ten minute drive to the beach? Describe the vibrant beach scene and local foodie fares. If your town is known for its delectable Italian food, include that your property is only a few blocks away from the best Italian food in town. The easier it is for your tenants to access communal life, whether it be by walking, biking, or transit, the more appealing your property will be.
Run a Credit Check
Last but not least, if you pour your heart and soul into a property, you should expect to get the same in return. When you screen tenants, it is essential that you run a credit check to make sure you can trust them to make their payments. Consider using SmartMove credit checks for landlords to get the right tenant for your property.
In addition to making sure your tenants make at least three times the rent, you will want to look for any outstanding credit balances or negligent payments. If they have not kept up with their payments, this is a red flag and you should move on to a more capable tenant.
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