How to Attract Potential Tenants

PropertyGuru Editorial Team
Property agents go through a lot of work to attract tenants for their clients. They have to get the place ready for an open house, establish a fair and attractive price and prepare enticing ads.
If you’re looking for tenants on your own, you’re going to have to do all of that and much more.
The first thing that’s going to attract potential tenants is the location. Now this is a variable and dependent on the needs of the person.
You can’t really affect this; however, if your property is located within walking distance to shops, malls, schools and public transport, it becomes more attractive and easier to rent.
The location determines the price and setting a fair and affordable rate will go a long way in encouraging people to pick up the phone to call you.
This is a delicate situation though as setting the price too high will cause them to look elsewhere while setting it too low may imply problems with the property.
The surest way to settle this is to order a proper valuation of the property and go from there. Avoid arbitrarily raising the price as it will hurt your chances of attracting people.
Price and location are factors, but they are enhanced immensely by three very important things;
1. Be a friend first:

When you’re friendly with people, they tend to open up more with you. We’re not saying you need to know everything about your potential tenant but instead of rattling off questions from a list, show that you’re genuinely interested in them as well.
Be open to listening to their wants and needs and show that you’re willing to negotiate where possible.
Be firm but fair.
2. Home makeover:

It doesn’t matter if you’re selling or renting; your property had better look presentable and liveable. The potential tenant must be able to envision himself living there.
Think of your home as a five star hotel. The only way you can justify your price is if what you’re renting looks impeccable.
Prepare your home before you open it for viewers. Get the lights and pipes fixed. Remove all personal attachments in the house. Give the walls a fresh coat of paint, preferably in white. Draw your curtains, open windows and let lots of natural light and ventilation through.
Remember that the point of all this is to attract people and make them want to rent. If you need to spend some money now to make your property presentable, do it.
Once your property is suitably ready to be receiving visitors, make sure you identify a unique selling point. This can be anything from an attic, basement, extra rooms and proximity to a shopping mall.
Discuss this with your agent.


3. Benefits are more important than features:

So what if you spent a few thousand dollars on that antique chandelier? If it brings no improvement to the lives of your future tenants, it is not a feature. It’s certainly no benefit.
What are benefits?
There is a lift servicing the apartment directly. There are schools within walking distance. If your property has access to the best view in the city, that is undeniably a benefit.
You need to appeal to the positive emotions of your potential tenants. Remember that when you’re renting your house, the area and amenities around it will be important to the tenant.
If you do all of this, you’ll stand a higher chance of attracting the right kind of tenant to sign a lease with you.
The right kind of tenant is the type who pays rent monthly, takes care of your property and follows all your rules.
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