You have made an investment in the rental property with the hope to get fixed monthly income. But what when you choose traditional renting and you don’t the good tenants for your rental property? It’s really heartbreaking moment when you unable to find the right tenant because vacant investment property indicates financial risk. Well, you should hire a property valuer to know the rental value of your investment property and to know the actual requirement of the tenants. As property valuers are the expert and they know well about the property market. Here in this post, we are revealing the ways to keep your rental property occupied and less vacant.
Understand the market and customers – The basic and core rule of marketing is it is vital to know the market and identify the target audience and their needs before advertising the property, any product or services in the market. Know the property market trend and property rental rate for this you have to research well. Set the right property value high price may disappoint the customers and take away the prospective clients from you and low price may create a doubt in the minds of the customers. It is important to set the right rental value. Even you can take help from property valuer to know the actual market value of it.
Promote it well – Use traditional and modern ways to advertise, marketise and promote the property. Find the USP i.e unique selling proposition of the property which differentiate it from rest of the properties present in the market. For instance – Amenities like school, local shops, hospitals, restaurants available near the property even at a walking distance or the work will get done on the infrastructure of the property. Even you can tell about your vacant rental property among your friend circle, colleagues, relatives, neigbours that you are looking for the tenants. Remember word of mouth works well here.
Be prepared – If you have received the notice or indication from your current tenants that they are about the leave the property then you should stay alert and start your tenant hunting process. Make sure to advertise it well so you start receiving the calls and queries for tenants. Even you can request your current tenants to allow you to showcase the property to the prospective tenants.
Keep it classy and clean – We all love to stay in a clean place so as the tenant thinks and want. Make sure while showcasing your home to the prospective tenants it should be clean and well organised. Before calling new tenants for house visiting make the essential repairs and improvements to impress the tenants. Always remember no one likes the dirty and uncleaned place to visit. So to keep your home occupied, keep it clean and maintain it well.
Increase the curb appeal too – The outside area of your property should be cleaned, painted and well maintained to attract more and more customers. Don’t ignore the importance it carries.
These are the tips of Keeping your rental property occupied. For best property valuation services contact us.