How to Attract the Ideal Tenant

As a landlord, your two major concerns are finding great tenants and keeping them. So, how do you do that? It isn’t always an easy task, especially if you don’t have a clear idea of what it is you’re looking for. You need to have a vision. Is your main focus rather straightforward in that you want responsible tenants who pay on time? Or are you trying to attract renters in a certain income bracket who may be more enticed by luxurious amenities? If you have complete knowledge of what it is you’re selling and who you are trying to sell it to, you have the tools needed to attract the ideal tenant.

Know Your Ideal Tenant

It may be a good idea to sit down and take pen to paper when deciding what qualities make up an ideal tenant for you. Do they have pets? How do you feel about smoking? What kind of financial criteria are you looking for? If you can, make individual appointments with each potential tenant and inform them of the application process. There is no better way to get to know them and get a feel for whether or not they will be responsible and respectful of other tenants. Pay attention to details: what kind of questions do they ask? What are they looking for in their future home?

It’s also highly important to know your state laws. Finding tenants who will pay on time and take care of their living space should be your main priority. Qualities like maturity and dependability are noteworthy, not what your tenants look like. You should never include illegal prerequisites that could be considered discriminatory.

Know the Area and Demographics

Is there a large millennial population in your area? Or are there a lot of families looking to settle down? Different sets of people have different priorities when it comes to what they’re looking for in a rental property. Knowing this will help you attract the ideal tenant, namely one who is interested in your property. Nearly three quarters of millennials rent in today’s market, and student loans are a major barrier to homeownership for them. If there are more young people in the area, they will probably want to hear about the local nightlife and how many roommates they can share the space with to cut down on costs. On the other hand, families will probably want to know about nearby schools, after school activity centers and public transportation options. You want to appeal to people who will benefit from what the town or city offers, so providing this information is key.

Maintenance and Showings

The absolute best way to attract the ideal tenant is by showing that you care about your investment property. If you take pride in how it looks and how it is maintained, you will naturally appeal to those who also take pride in their home environment. Follow through on project check-lists and make repairs as soon as they are needed. When it comes to showings, take the time to utilize professional photography and make sure the space is clean and well lit. When potential tenants make appointments, try to ensure the unit looks like it does in the pictures. If people see something that doesn’t match their expectations, they will lose trust in your credibility. Create detailed listings that are dressed to impress.

Most tenants are interested in a property that reflects their own priorities. The ideal tenant will be looking for a place that is well-maintained and tidy inside and out. If your property is in great condition, it will attract the right renters.

How All County Denver Metro Can Help

All County Denver Metro Property Management is here to help property owners have confidence in the quality of their tenants and the security of their property through knowledgeable and trustworthy property management services. From managing tenant relationships to lease enforcement, we look forward to working with you to see how your investment can be a long-term, stress-free asset. For a complimentary quote, call us today at (720) 575-6100.

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