Your rental portfolio is a business. Businesses run best when they have a set of objectives and goals the owners wish to accomplish. When reviewing the purchase of rental homes, do you consider what the tenants want? More importantly, what the great tenants want? There are some simple things you can do to attract great tenants. Use this information when shopping for your next property or considering upgrading your existing rental.
Maybe that is not a part of your objectives, but I can argue it should be. These tenants will certainly help you boost your returns.
How to attract great tenants is easy and it is hard. The golden rule applies and is a great starting point. Here is a simple list of considerations we have seen be important to the best tenants.
We all have slightly different standards for what feels like home. After over 25 years in this business we can say most people share a common bond as to what a home will feel look and smell like. Before you buy, decide if the barking dogs kept outside next door might be a problem for a great tenant? What does a great home taste like? Do your potential tenants believe they can bring home some groceries tonight to your rental and eat dinner? Is it clean enough to move into? Does the rental pass your five senses test? If it does, then it will attract the best tenants.
Attracting and keeping great tenants is really not hard. When accomplished, the returns of your business will accelerate and you will enjoy the satisfaction of knowing you are providing quality homes to great people!
Ready to rent your home or property? Let's schedule a time to talk. The experts at WILMOTH Group have more than 25 years of experience in property management in the Indianapolis area.