Attracting tenants can seem like a daunting process. Every tenant has a different set of criteria for choosing their new home or living space, and it can be difficult to anticipate such a wide variety of needs. In order to help, here is a list of the 5 most important factors in tenants' minds during their search:
The Feeling of Luxury (and, Economy)
Your tenants have already calculated their price range. They know that rent is expensive, and they want the best bang for their buck. Show off the luxury of the property. Make sure the space is clean, well-lit, and decorated for showings. It is also important to emphasize economy: the fact is, tenants don't want to pay too much. Underline that the property's cost is based on well-informed market research.
Amenities and Location
It may seem like a no-brainer, but it is absolutely essential to show prospective tenants that your property isn't missing any points on the checklist: public transportation, good school districts, night-life and shopping. If there is no in-unit or in-building laundry, discuss the ease of a trip to the laundromat. Showcase the unique features of the local neighborhood, such as an exotic restaurant.
Flexibility
Inevitably, something about the property may give prospective tenants pause. They may be used to having more counter space in the kitchen or being able to set up a ping-pong table. Show that the space has flexibility: perhaps there are strong storage options to keep clutter out of the way, or maybe the floor plan breaks open if you stage with smaller, but still appropriate, items of furniture. Regarding the question of counter-space in the kitchen, you can include a kitchen table or an island with a fruit bowl to create a feeling of abundance and freedom.
Attentiveness
Show that the owner or landlord invests in the property. Discuss recent renovations in detail and list their dates, so the tenants know they can look forward to further improvements and attention. Don't discuss the frequency of repairs - nobody wants to expect too many repairs - but do note the owner or landlord's passion property and their active role in its improvement.
Communication
Be available for tenants to ask questions. When discussing the property, don't lecture. Allow tenants time to formulate their concerns. There is no better time for a "soft-sell" than in this age of mass information: likely, tenants are already forming a pro/con list before they step on the property. Discuss the property favorably but without insisting on its perfection.
With so many options for rentals in St Pete and Clearwater, if you have a property to rent, know your competition and how you stack up. More than likely your potential tenants have done the same, so you'll want to have all of that knowledge in your back pocket too.
This information will help you anticipate needs and expectations in order to confidently build relationships with potential tenants.
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Cover photo courtesy of Pixabay
