As a rental property owner, you’re well aware of the fact that your rental property isn’t the only one prospective tenants have to choose from. Making sure your rental property stands out from the rest is essential to finding the best tenants and keeping your vacancy periods as low as possible.
In this post, I’m going to give you 5 practical ways you can ensure your rental property stands out more to prospective tenants.
1) Allow Pets
According to AOL, a survey done by apartments.com, indicates that 75% of renters have at least one pet. The survey also revealed that many of these pet owners experience difficulty finding rental properties that will accept their furry friends. Trust me. Allowing pets in your rental property will give you a quick competitive edge.
Tenants with pets are also accustomed to paying a non-refundable pet deposit, so enforcing one will likely not be met with resistance.
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2) Apply a Fresh Coat of Paint
This one may seem like a no-brainer, but its still worth mentioning. It’s amazing how a fresh coat of paint can really add new life to a property. If you keep your walls white, you can buy “maintenance white” paint. It’s much cheaper than “regular” paint, and its all you need if you’re just looking to give those white walls a fresh feel.
3) Consider Section 8
According to a 2016 HUD report, there are close to 5 million Americans living in Section 8 housing. Opening up your rental property to individuals and families with section 8 vouchers is another easy way to stand out from the crowd. Renting to section 8 tenants has pros and cons like anything. Check out this blog post for more on renting to Section 8.
4) Get Professional Photos Taken
It’s rare that I see rental property owners promoting their rental property with professional photos. Yes, I realize the iPhone does a pretty decent job, but it doesn’t stand up to what a professional real estate photographer can produce. For as little as $100, you can have some really good-looking photos that will certainly make your listing stand out.
Check out the two photos below. Which one do you think was taken by a professional photographer?
5) Include a YouTube Video Tour
Here is one way that your iPhone can be put to good use. Take a quick video tour of your property, post to YouTube, and include a link in your listing. This will give you another opportunity to comment on how big the kitchen is or to show off the new HVAC system you just had installed!