Whether you decide to sell or rent your property, both have their merits and demerits. However, considering that 40.7 million of the American population live in rented properties, it speaks volumes about the demand. Thankfully, it’s pretty easy to go through the process of renting out to a prospective tenant. But that comes with stiff competition and the need to stand out from the crowd. While you can take steps on your own to make your real estate property stand out in a competitive market, hiring a property management expert is a smart move. These professionals come equipped with the right knowledge and tactics not just to keep your property appealing to tenants but also to help reduce your expenses.
1. Use High-Quality Photography
Today, many property listing sites use photography for prospective customers to have a fair idea of the residence’s appearance. However, not all invest in quality photography. Some images look blurry, out of focus, have inadequate lighting, etc. Unfortunately, there is a failure to acknowledge that potential renters may associate the lack of details with the lister’s level of professionalism. As a result of this poor public perception, it is vital to make some compelling considerations, especially where high-quality photography is concerned.
First of all, you may want to avoid taking pictures of the property at night. It can limit the overall view of the property if it is an outdoor shot. Images taken during the day and with appreciable natural daylight can give your property a vibrancy that appeals to prospective tenants. Be mindful of shadows at this time. Additionally, it is recommended to avoid capturing shots of pets or people on the property. For whatever reason, images of pets and people seem to take away from the professional presentation of the property.
2. Organize a Welcome Package
This is very different from a tenant packet. A welcome package usually is reserved to ‘greet’ guests who come around to view the property. This can include some bottles of water, wine, juice, finger foods, etc. You also have the option to include local guidebooks with details on relevant places within the neighborhood that prospective tenants may want to visit if they settle on your property.
Admittedly, you may not know the taste or preferences of your rental property viewers. Therefore, making the welcome package as diverse and assorted as possible is recommended. By doing this, prospective tenants read more into your considerate actions and may end up choosing your rental property. In other words, a welcome package is an opportunity to earn an excellent first impression.
3. Stage Your Space
The more attention you commit to the rental property, the higher your chances of appealing to potential renters. Staging is a critical part of property presentation. If you get it wrong, you may risk losing out on finding the right tenant. Indeed, the property is up for rent, so what’s the point in ‘dressing it up?’ If this is your perception, it may be time to rethink it. Staging the space is more like a first impression you wish to create in the minds of people who come around to see the property. It will also be an excellent time to keep pets and kids away from the property. Items like a clean rug, flower vases, inexpensive artwork, and other accessories can add to the overall aesthetics of the place. You can also stage the bedrooms by focusing on the bedding and opening the curtains or blinds for more natural light to stream in.
There are several things you can do to make the rental property more appealing. On the other hand, if you do not wish to handle the rent processes yourself, credible property management companies can do so on your behalf. Whatever the case is, try to put yourself in their shoes to figure out what needs to be done. Although your ultimate aim is to earn income through your property, it pays to be customer-oriented as well.
