As a landlord or property investor, your number one goal is to ensure your property gets rented. An empty rental property is a drain on your finances and can be a significant headache. Fortunately, you can do a few things to increase the chances of your rental property getting rented. Here are some tips.
Keep Your Property in Good Condition
One of the best ways to make sure your rental property gets rented is to keep it in good condition. Prospective tenants will be looking for signs that the property is well-cared for. If they see that the property is in disrepair, they will be less likely to want to rent it. Additionally, keeping your property in good condition will help to ensure that it retains its value over time.
For example, if you have an older rental property, it is crucial to make sure that any necessary repairs are made in a timely manner. If you wait too long to make repairs, the damage will only get worse, and it will end up costing you more money in the long run. Additionally, tenants will be more likely to take good care of a property that is in good condition.
Another essential factor to consider is the cleanliness of your rental property. No one wants to live in a dirty, cluttered space. Make sure the property is clean and free of clutter before showing it to prospective tenants.
Hire a Property Management Company
Another way to make sure your rental property gets rented is to hire a professional property management company. A good property management company will have experience renting out properties and know how to market your rental property to prospective tenants. They will also be able to screen tenants and handle maintenance and repair issues as they arise.
For instance, if you live in a different city or state from your rental property, it can be challenging to keep up with everything that is going on. Hiring a property management company will take some of the burdens off of your shoulders and will give you peace of mind knowing that your property is in good hands.
Property management companies usually have a network of qualified tenants they can contact when a vacancy arises. This can help to speed up the process of finding a new tenant for your rental property. If you decide to hire a property management company, be sure to do your research and choose a reputable company with experience in managing rental properties.
Secure an EPC
Getting energy performance certificates is vital because they provide tenants with information about the running costs of a property. An EPC (energy performance certificate) is a document that shows how energy efficient a property is. In the UK, it is now required by law for all landlords to have an EPC for their rental properties.
Tenants are increasingly looking for energy-efficient properties, as they can save money on their utility bills. An EPC can help make your property more attractive to potential tenants and allow you to rent out your property more quickly.
If your rental property does not have an EPC, you can quickly get one by hiring a qualified assessor. The assessor will come to your property and conduct an energy assessment. Once the evaluation is complete, you will receive an EPC certificate.
In order to get an EPC, your property must meet certain energy efficiency standards. If your property does not meet these standards, you may need to make some improvements before you can get an EPC. However, making these improvements can help to make your property more energy efficient and reduce the running costs for tenants.
Set the Right Price
You also need to make sure that you’re setting the right price for your rental property. If you charge too much rent, prospective tenants will be turned off and look elsewhere. Conversely, if you charge too little rent, you may end up losing money on the deal. Researching comparable properties in the area will help you determine the right price for your rental property.
You may also want to consider offering tenants incentives to get them to rent your property. For example, you could offer a discount on the first month’s rent or include utilities in the price of rent.
Remember that the goal is to find a balance between renting your rental property quickly and making a profit. If you do your research and set the right price, you should be able to achieve both of these goals.
Advertise in the Right Places
If you want prospective tenants to find your rental property, you need to make sure that you’re advertising in the right places. Putting up a sign in front of the property is a good start, but it’s not enough. You also need to list your rental property on popular websites. Additionally, using social media platforms like Facebook and Instagram can also help get the word out about your rental property.
When creating your listing, be sure to include clear and accurate photos of the property as well as a detailed description. You should also have information about the price, location, and any special features or amenities that are included.
By taking the time to advertise in the right places, you’ll be more likely to find tenants for your rental property.
If you’re a landlord or property investor hoping to rent out your latest investment, then these tips are for you! Following these can increase the chances of renting out your property quickly and easily.