TheHouseMonk Blog

Thoughts from TheHouseMonk team on property management, technology, information on the industry and more

Tips to rent out your property faster

Attracting tenants to your property which you have put up for rent depends a lot on a particular rental market. While it is natural that people definitely love a good deal but if you canoffer a discount and some more attractive incentives then you might hit the jackpot. But if you are still wondering about the best way to find quality tenants fast for your a rental property then only by placing the “for rent” sign in front of your property won’t work, although it is an essential step, yet it takes little bit of creativity while competing for the tenants who pay rent on time and consider your rental home precious.

Offering Attractive Deals/Discounts

Generally while you determine the market rent for a particular rental property it is typically a range rather than an exact number. So after you are done with the rent analysis and you find out that a rental property same like yours is worth ₹12,000-15,000 then always take the higher number to use as your rent and then offer a discount of ₹600-800 off per month. It is also important that you don’t offer to waive off the security deposit as it is meant for protecting you/property owner in case the tenant disappoints you bymoving out of the property without paying or even in case of damages. It may also sound attractive if you give the first month free month or the monthly discount. Renters respond better to deals like first month free because initially they have a lot of other expenses like security deposit and other essentials to buy.

Good Photos

It is time of smartphones and smart devices and renters usually first check out the pictures and reviews of the property online, that is why having goodquality property photos is considered important. Photos of your property which you have put onlineare the starting point for potential renters which will be used to decide whether to physically visit your unit or not. Hiring a professional photographer or taking good property photos on your own which show your unit in a good light, which are crisp, clean, and nicely framed greatly helps in adding to the legitimacy of your property and can prove to be the key factor in finding good and quality tenants.

Complete& Exhaustive Listings

The best way to get your property rented faster is by creating a comprehensive and a well-written listing. Renters know what are they looking for and if the description if your unit/property hits their criteria then you will get a quality tenant within no time. Make sure that you add the below mentioned things to your property listing description to make it attractive for renters :

Complete dimensions of the rooms like the kitchen, bedrooms, living room.

Any kind of pet restrictions.

The floors are hardwood or carpeted.

The Washer/Dryer is in-unit or on-site.

If the unit is centrally heated.

The rooms have balconies or patio.

Neighbourhood amenities

Nearby public transportation.

MakeYourselfAvailable

One more great way to find tenants faster is by continued networking, make sure you answer your phone and promptly show your rental property/unit to your potential quality tenants. Also, your rental property should properly tidied up, repaired and painted and make yourself available as a property manager and as the owner to your potential tenants.

Even after you choose your ‘quality’ tenant for the rental property remember to keep the rapport and connectivity going with the tenant always. Keepyour rental property properly maintained by using trusted electricians, plumbers and contractors. The way you treat your tenants will affect any future business and future rentals.

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