As a new landlord, keeping your units filled with quality tenants can feel difficult to achieve. Good tenants are important, they pay on time and do not damage your property, which saves you time, money, and energy on repairs and evictions.
However, it can feel like quality tenants are 1 in 1000. Finding them seems nearly impossible and can make the expectation of a fully occupied rental space feel very heavy. Fortunately, there are a few tips you can use to make sure you are attracting the best applicants.
If you are a first-time landlord who isn’t sure how to find good tenants, here are several tips to get you started.
1. Offer Free WiFi
Free WiFi is becoming a standard amenity for many apartments. Offering free WiFi for apartment complexes is an easy way to bolster your amenities without having to spend time and money renovating or adding new areas to your complex. Free WiFi is a great draw and sure to attract quality tenants.
2. Maintain Your Property
One of the best first-time landlord tips is to maintain your property. When applicants view your rental unit, they are expecting to see signs that you care about the property because it means that care will likely extend to your tenants. Any applicants who are viewing the property and are willing to accept poor conditions will probably not be the best tenants.
3. Keep a Clean Property
Cleaning is one of the top priorities on any first-time landlords checklist. Having a clean property is non-negotiable, not only for appearances but for the health and safety of everyone who lives on the property. Make sure your property is clean at all times, with no exceptions.
4. Stage Show
Staging your rental is a great way to attract a quality client. Not only does it help your property look good, but it also allows a potential tenant to imagine themself living in the space. If you cannot stage all of the time, take staged photos for your listings.
5. Determine Your Target Demographic
If you are wondering what to do for first time landlords, determine your target demographic. This is a description of the type of person who will rent your space, such as their income level, type of job they have, marriage status, number of children they have, etc. Determining your target demographic is essential for marketing effectively.
6. List Carefully
Some of the best advice for new landlords is to be selective with your listings. Use the platforms that have your target demographic and avoid the ones that don’t. While it may feel ineffective to avoid some platforms, it’s one of the best ways to make sure you are attracting the right applicants.
This is How to Attract Quality Tenants as a First Time Landlord
By implementing these tips, you can find quality tenants, even as a first-time landlord.
Determine your target demographic and offer amenities that will attract that demographic. Maintain your property, and make sure your rental spaces are clean and staged. Choose the places you list carefully and screen all interested applicants.
Follow these tips and you will have your pick of quality tenants.