Every landlord in Atlanta desires great tenants for their rental property. Tenants that will not only pay their rent on time but also take good care of the property. Finding such renters however is not as simple as it sounds. For starters, property owners are always under pressure to fill vacancies to ensure the continuous flow of rental income. Moreover, almost every prospective renter is on his or her best behavior when shopping for a property. These two factors combined can easily mislead a landlord into welcoming a problematic resident. So, how can Atlanta owners quickly find residents for their rental properties?
Here are a list of tips we put together to help you find tenants:
Make your property tenant ready
Every experienced landlord understands that the appearance of your property determines the quality of prospective renters you attract. Therefore it makes good sense for you to take the time to update your property to make it aesthetically appealing to high-quality tenants before advertising it. For instance, you should repair and replace all broken or worn out fixtures, clean the property and if possible paint it to make it more appealing. Even though such an exercise might seem like a waste of time, it is not in futility. A well-maintained property will significantly boost your likelihood of attracting a responsible occupant.
Define an excellent renter
Once your home is rent-ready, it helps to have a clear image of the type of occupant you want. Such clarity will help you tailor your vacancy advertisement and strategy towards identifying and securing such a renter. Take the time to craft the definition of your perfect tenant. Possible factors to consider might include marital status, their financial stability, do they have a pet, and so on.
Price your units competitively
At times high-quality renters will bypass a property simply because it is overpriced. As such, it is important for you to price your rental properties competitively. You can accomplish this using various strategies. You could find out what properties similar to yours demand as rent, and then price your property slightly lower . Alternatively, you could charge the same amount of rent as the surrounding units, but ask for only one month’s rent as security deposit. Lastly, you could charge a discounted rent to a tenant who intends to stay in your property for longer period of time. These strategies will help potential renters view your property as affordable and attractive.
Generate great images of your property
High-quality tenants are highly visual. They often decide whether or not to rent a property based on the pictures on the vacancy ads online. You should ensure that every image you post is one that works in your best interest. Avoid using your camera phone to take pictures of the property, and instead look for a high resolution professional digital camera. If you have access to reliable photo editing software to make the photo more appealing, make use of it. After all, the more aesthetically engaging the ad images are, the higher your chances of attracting quality residents for your Atlanta rentals.
Target your ads
As surprising as it may sound, many landlords fail to attract the right tenants to their property simply because they do not have attention grabbing ads or they neglect to target any particular niche market when advertising. Be sure to design creative and efficient vacancy advertisements whose message and strategy target a specific quality of tenant.
Get the message out
When you have a vacant rental, it is in your best interest to let as many people as possible know about it. You should, therefore, employ every possible medium to advertise the empty property. That includes mounting “To Let” signs, booking classifieds space in newspapers and Real Estate magazines, posting ads on Atlanta-based leading online listing platforms, and printing flyers, as well as engaging friends, colleagues, and existing tenants, to help you look for quality tenants. If possible offer the people helping you to locate occupants a commission incentive, to keep them motivated in the quest.
Create a credible online presence
Today every business needs to have an online presence. It could be a professional website, or an account on popular social media platform like Facebook, Twitter, Instagram, Pinterest and Google +. The reality is that, most quality renters conduct online searches when shopping for property. Take full advantage of this valuable asset when marketing your rental property.
Conduct tenant screening
Once you advertise your vacant rental, you must be prepared to deal with inquiries from genuinely interested renters, as well as those who are simply not. Among those who are interested, not all of them will fit your definition of the perfect occupant. It is advisable to submit all prospects through a stringent vetting process. The screening process should include, the filing of an application form, conducting extensive background and credit checks, to help ascertain which applicants best meet your ideal tenant requirements.
Go easy on some rules
Even though it is advisable for you to have a lease agreement with clear cut rules, it is equally important for the rules not to be too restricting. Excessively strict regulations might just cost you high-quality renters. If you wish to attract great tenants, you might want to consider allowing tenants with pets, children or who smoke. Be sure to include a special clause in the rental agreement that addresses smoking and the keeping of pets.
Engage a property management company
The most efficient and reliable way of locating and attracting great tenants is to hire a property management firm. Professional property managers have vacancy advertising expertise and experience. Most importantly, people looking for rental property often ask property managers for leads. Which means the manager has first-hand information on who might be searching for your type of rental.