One of the most profitable and enduring long-term businesses existing today is real estate, precisely the rental and lodging business. Owning a beautiful, practical or affordable space would be a great business opportunity. The challenge is finding ways to attract prospective tenants to view your property and rent your space. The critical step is to bring in more renters during a property viewing. Here are a few tips that you could use and apply to make your next property viewing day a complete success:
1. Spice up your Property
The first step and the best way to attract more renters to your property is to improve and update your space. Even decades-old buildings and apartments can be attractive to tenants if it is well-cared for. Do not hesitate to clean your property, maybe do some repairs and a new paint job, or you can even get some new furniture to brighten it up. It is crucial that your future tenants would be able to picture a safe and happy living experience in your space.
2. Consider the Surrounding Area
Another solution to attract more tenants and to be unique to your competitors is to consider your target audience. You can do this by evaluating the community that is surrounding your property. Perhaps your apartment is near schools and universities, if so, maybe you can think about making your space similar to a school dormitory. If you are near commercial and business areas, you can package and improve on your property based on young professionals’ needs.
3. Take Advantage of Social Media
Using paper ads in newspapers or bulletin boards is no longer as effective as posting your property listing on an online platform. Social media such as Facebook, Instagram, and YouTube could be powerful tools to market your property. Most of these marketing arenas are free to use, not to mention their reach is extensive, but you will need productivity and creativity to create an attractive ad. Do not forget to put many high-quality pictures of the place. It would be more inviting for prospective tenants to have an honest sneak peek of your rental property.
4. State Your Tenant Criteria
Another way is both useful to you and your future renters, and that is stating your requirements and tenant criteria clearly. What kind of tenant do you expect to rent your place? If you have a two-bedroom house, maybe you could consider putting it up as an excellent place for newlywed couples or small families. If you own a studio apartment for rent, you could put it up for young professionals or college students. It is also essential that you put in your rental price and payment policies. The financial aspect is often a significant consideration for most people who are looking for a rental place.
5. Be Open to Consideration
Lastly, even though you are operating a business, it would also be useful to maintain a considerate mind. After all, real estate is very much a social business. You can be more flexible with your viewing times such as being available on after office hours or on weekends. Try to have a warm and friendly approach to your future tenants even if they are inquiring online.