Landlord Goldmine Tips: How to Attract Exceptional Tenants

Posted on 14. Nov, 2011 by in General

Hey everyone

Today, I thought I’d run through the kind of techniques we use in our advertising to attract exceptional tenants while sending a message to those unsavory tenants who don’t pay rent or trash the place that there is not a chance in the world that we would ever rent to them.

The wonderful thing about the techniques I am going to tell you about is that they work in every neighbourhood, regardless of income level.  There are good tenants in every rent range.

Without a doubt, the best advertising of all is a nice looking rental property.

You can structure your adverts to tell good tenants that your property will be a great place to live and that they should call right now. (I have used the headline – “A Great Place to Call Home” with enormous success!). This is the first step in weeding out the good from the bad.

Good tenants don’t want bad tenants for neighbours–that could be why they are moving.  Good tenants want to know that you are careful about who you rent to, especially in multi-unit properties.

Words that indicate that you check references and enforce rules will draw them out.  I know some Landlords demand an application fee. We haven’t felt the need to go down this route yet.  I know for certain bad tenants don’t like application fees, they know they will lose both it and any chance to rent the property.

We have found that if you have a special property, our rental is full of period features, but other examples could include close to a jogging trail or bike trail, you get much better results if you advertise that prominently. Tenants who would be attracted to the special featurse of your property are not tenants just looking for any old place to live, they are looking for a place which fits their lifestyles and tend to be better tenants.

Your ad will do well if it shows you have pride of ownership.  Saying things, such as “well-cared-for,” “immaculate”, “new paint and carpet,” “first-class”, “charming”, and similar things will tell prospective tenants that you take pride in your property and that you will expect your tenants to do the same.

Ads such as these will have the same effect as the well-kept house and yard; it will tell bad tenants that they don’t stand a chance of getting to rent the place -there’s far too much competition from good tenants.

Don’t neglect to tap into your current tenants as they can be a tremendous source of quality leads.  If you have some prize tenants, tenants you never want to part with, tell them you have a vacancy coming up and ask if they have any friends who might be interested in living in the property.

Responsible people tend to have responsible people as friends.  Even if they know someone who would not be a good tenant, they would tell you that he or she wasn’t someone you would want to rent to.  We’ve done this in the past and it’s worked well for us (plus they’ve enjoyed the finders fee for their referral).

To Your Landlording Success!

Jane

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