Inquiries like “I can’t find tenants – please can you help me rent my property?” are among the most frequent requests from landlords. alternatively “What do we need to do to rent my property quickly?”
Tenantless landlords frequently show us their properties, but it rarely takes a few minutes to see why we wouldn’t want to rent there. It usually only takes a small amount of time and money to make these properties more marketable to tenants.
Tenants typically examine five or six apartments before settling on one to rent, and often they decide after just one show. If you know what kind of tenant you want, you can better convince them to rent from you.
You must understand the local market to rent my house out. In most circumstances, the ideal tenant for your rental property will be determined by its location and features. It is in the business’s best interest to secure the most excellent possible tenants, regardless of the type of tenants you seek. Making improvements to the property that caters to the needs of professionals is essential if you want to attract professionals as tenants. The type of tenants you seek will change depending on whether you’re marketing to students, LHAs, or home sharers.
If the thought of “how do I rent my property” has crossed your mind, consider the following advice.
1) First impressions: This is their first look as tenants approach your house from the street or drive. How does the value of your home stack up against the others in the area? Is there anything interesting to see outside the windows (most potential tenants see the backs of the drapes and blinds)? Tenants are more likely to rent a property kept tidy on the outside.
2) Get rid of the clutter. If the current renters are slobs, it may be best to wait until they move out before showing the place to potential tenants. Tenants have a hard time visualizing themselves in a too-cluttered space. If the previous tenants left any unwanted items or trash behind, remove them.
Third, renovate and repair: How you decorate and show your home can determine how quickly it rents and how much you may charge. Carpets and flooring should also be checked, along with wall paint (simple paint is frequently the best). Maintain a spotless appearance by dusting, washing, and painting as required. Renovate how you would like your property to be maintained (since dirty rental units tend to attract unclean occupants).
4) Pay special attention to the kitchen, as this is where prospective tenants will likely spend the most time. If you upgrade one room in the house, this should be it. A fresh coat of paint and new cabinet pulls may do wonders for a kitchen looking “tired” without breaking the bank. Doors that are ajar must be repaired or replaced. The appliances, especially the stoves and ovens, should be clean but not brand new.
5) Don’t stress over “white goods”; you should have access to a stove at the very least, and the presence of any other appliances is preferable but not required. You should probably wait until prospective tenants inspect the property to decide whether or not to furnish “white goods” (you’ll have to maintain them if you do). For some tenants, this is not necessary. You may reassure your audience at any time that you will deliver by saying so.
Sixth, the bathroom is second only to the kitchen in terms of importance. A “tired” restroom is a major turnoff for prospective renters. It doesn’t have to be brand-spanking new but should be tidy and devoid of unnecessary items. The sinks, tub surrounds, and showerheads should all be securely fastened and functioning correctly. If your rental home does not already have a shower, you may want to add an electric shower over the tub to attract more renters.
Seven) Floors and carpets: If your carpets are old and worn or feature busy patterns or dark colors, you may consider replacing them with newer, simpler styles. A well-chosen hue may open the space and make it feel more welcoming. The living room is a focal point that should not be overlooked. This is the first place to look if money is tight. The appropriate decision will allow you to recoup the investment through increased rental income.
You can never have too many windows or a good view in your home. Open drapes and ensure windows are spotless before showing the property to potential tenants. Although curtain rods should be provided, tenants usually prefer to bring their curtains for aesthetic reasons. If your home has lovely windows, show it off by holding open houses during the day.
9) Lamps and shades: Changing a space’s lighting and window coverings can completely alter its appearance. Many rental properties haven’t had them or are old and dirty for years. The room needs new shades to be completed. Subtle is better; anything too out-of-the-ordinary runs the danger of being rejected by the tenants.
Tentatively, furnished properties tend to rent for slightly more than unfurnished ones. Smaller furnished apartments may find a larger tenant pool among the young, the newly divorced, and the student population. Larger homes attract families, who typically move in with more furniture. Don’t buy furniture in advance if you’re willing to supply any. Tenants shopping for a new place to call home may not share your aesthetic preferences, so giving them a voice in the selection process is a great way to set your rental property apart from the competition.
The eleventh and final step in renting my property is a comprehensive cleaning. This requires more than just giving the house a quick vacuuming. A thorough professional cleaning can make even the most unremarkable home look and feel like new. You may improve your property’s visibility and find a higher-quality tenant for less than a week’s rent.
Landlords everywhere would rather not have an empty home, but if they don’t take the time to prepare their rental correctly, it might be unoccupied for much longer. If you want to recruit the most significant tenants possible in your target market, operating assuming you’re competing with other landlords is essential.
Refreshing your property in the ways described above is usually preferable when competing to rent your property, even if it takes a week or two and costs a modest amount of money. You’ll be able to find a more reliable tenant willing to pay a higher monthly rent. You may have an easier time renting your house.
Mike Dawson is the Director of Woo Properties Ltd, a Nottingham-based company that offers landlords a more personable rental and property management service. How to Rent My Property is only one of many property management topics covered in Woo Properties’ extensive wiki. To learn more about Woo Properties, please get in touch.
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