Attracting the right kind of tenants

Attracting the right kind of tenants

There is a correlation between the quality of the property and the type of tenants it will attract. In this regard dedicating time, money, and other resources is essential to creating a quality property. Creating a quality property is important in Attracting the right kind of tenants and is one of the best investments a landlord can make.

How to attract the right applicants

It stands to reason that if your property is highly attractive it will easily attract tenants. The better your property is, the better the quality of tenants you attract.Renting out your property at the earliest possible moment will alleviate stress, financial distress and time pressures. But how can you maximise your chances of attracting the right applicants for your property?

Acquire the best property

It is of great importance to fully examine every aspect of a potential investment property from a tenant’s perspective before buying. Factors to consider include;

Location

The first and biggest consideration is location. Close proximity to excellent transport networks, retail centres, schools, parks, and universities increases rental values.

The neighbourhood

The neighbourhood in which the property is located is also of great importance. The size of yards, the general appeal and overall safety of the neighbourhood are crucial.  Consider if people desire this neighbourhood and want to live in this area.

Extra features

Having the right features as part of your property is important and great added features can potentially make or break a deal. With just the right features highlighting the spleandor of the property you can demand more for your property.

Every moment a property sits vacant translates into lost income that is not recoverable. For this reason reducing the amount of time a property remains vacant is crucial for every investor. The trick is to lease your property faster than the competition and get top income for it.

Popular features

Popular features that will attract good tenants include:

  • Good quality kitchens with modern fittings, finishes, and appliances.
  • Air-conditioning / heating to facilitate for comfort.
  • Spacious and modern.
  • Outdoor sitting/ entertaining area.
  • Extras such as wonderful landscaping, swimming pools, gyms, laundry rooms, and gardens are great for increasing property value.
  • Added features such as wall fences, electric fences, security guards, alarms, and security lights are great bonuses that are much dirt after by tenants.

Presentation is key and that is why a landlord should strive diligently to present the property well and price it to meet the market.

Things to avoid

In as much as there are certain things a landlord should definitely do improve the statue of a property , there are also features that will detract from the value of your property.

  • A dimly lit and dark property will always put tenants off.
  • A dirty property is a big no-no
  • A property in poor condition will only succeed in chasing tenants.

Tip: Avoid dark, as well as over the top colours and wall paper. Stay as neutral as possible to appeal to the biggest market.

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