Landlords who want to succeed in their rental business have to look outside the box of traditional thinking and use new ideas and technology to stay on top of their game. Here are eight tips for landlords looking to boost their rental business by providing services that their tenants need, want, and can’t get anywhere else.
1. Landlords Need Social Media Presence
In 2022, a landlord without a social media presence is like someone without an email account in 2000. Social media is the best way to maximise rental value by engaging with your potential tenants in just a few clicks. Landlords can leverage their social media presence organically to engage with their audience group, ensuring y understand what followers want and need.
Indeed, creating regular content about your rentals and rental business can help attract potential tenants because:
- You increase rental visibility in your community
- You can showcase some of the best features in the rental
- You can answer questions on social media
- You can share news, such as when the rental is free for new tenants
2. Use Property Visits as an Opportunity to Enhance Your Image
It is essential that you are always looking to maximise rental value and attract tenants. One way to do this is by making your property visits an opportunity to enhance your image. Whether it be through simple staging tips or putting on some soft background music, a little extra effort can go a long way! Indeed, many tenants can find it hard to imagine moving into an empty property. But you can add some elements to ensure they can feel at home, even if the place is empty.
It is worth considering tenancy cleaning services after a tenant leaves, such as deep cleaning and carpet cleaning, which can help make a positive impression on visitors.
3. Digital Services Can Help You Draw Potential Tenants
Digital services can help you attract potential tenants by showing off your property and its features. Using video tours, virtual walk-throughs, and aerial images will help you maximise rental value by highlighting your property’s best features.
Additionally, it is important to note that not every potential tenant can schedule an in-person visit. Nowadays, tight work schedules can make it tough to see a place in person. Besides, individuals who live remotely and are looking for accommodation ahead of a move can struggle to travel for visits. Therefore, video tours and live Q&As via social media can be a game-changer.
4. Real Estate Management Via Professional Agencies Offers Greater Flexibility
A professional real estate management agency can help landlords to improve the quality of their rental properties and attract tenants. They will take care of everything from advertising, to finding tenants, to completing maintenance work on the property. This offers flexibility for landlords who want to focus on their own businesses or spend more time with family. Plus, since they have experience in this area, they know what tenants are looking for, which means it will be easier for them to find a suitable tenant.
5. Smart Technology Can Cut Down Tenants’ Costs
With energy bills on the rise, it makes sense for landlords to consider some of the best practices that will protect their tenants’ budget. Ultimately, tenants are looking for properties that will not break the bank, and that means that rentals with adequate insulation solutions will have the upper hand in the real estate market.
But, landlords can also consider the implementation of smart technology, such as smart metres, smart sensors, and smart plugs, to keep energy costs low in their rentals. Indeed, smart tech gadgets inside the rental can allow tenants to:
- Monitor their energy use throughout the day
- Put tenants in charge of their consumption via an app
- Add smart plugs to the rental to turn appliances on and off remotely
- Keep the house cosy without wasting electricity via smart thermostats
6. Accepting Pets Can Increase Opportunities for Rentals
Should you accept pets in your rental? More and more landlords are considering the advantage of allowing pets on the property. Indeed, tenants who adopt pets are more likely to stay in the same property for a long time. It can be tough to move out and find another pet-friendly rental.
Contrary to common belief, pet-friendly rentals don’t suffer more damage than pet-less rentals. The majority of tenants with an animal are careful and considerate pet owners. Besides, as pets can help improve well-being and reduce stress levels, these tenants are also more likely to have stability in their careers and relationships, hence maximising the chances of long-term tenancy.
Hopefully, these few tips can help you bring your rental to the next level and attract reliable, long-staying tenants.