The main objective for most owners when leasing their investment property is to find a tenant who will pay on time and take care of your property as if it were their own but how do you filter through the crowd and attract the right tenant for you?
Highlighting your property features is an important aspect that appeal to a tenant however this may not necessarily be the same features that you would look for yourself. Your ideal tenant or at least the type tenant suitable to your property should be taken into consideration. Find the features most suited to them and advertise the features enticing to them.
There are also external factors that need to be understood as these may affect the type of prospective tenant who applies for your property. The presentation of the property, the time of year, the advertised price, and the systems and people in place to handle enquiries and their ability to qualify each one of them.
Lastly but by no means least is conducting a full and thorough screening of the potential tenant’s application once a suitable one applies. This includes full rental history (especially current living situation), tenancy database checks, personal and employment references, rent payment behaviour and history and condition of their previous rental properties during routine inspections.
Important Point to Remember: Focus on quality, not quantity for prospective tenants and their applications but if you utilise the tips above you can attract competition and still get the best of both worlds.