Finding that perfect tenant can sometimes feel like finding a diamond in the rough. We all know someone with a horror story or two of a rental situation gone wrong. So needless to say, we’d rather avoid any situation that might resemble any those. Reducing that risk all comes down to a few important factors when placing up your rental ad, as well as during the screening process.
Use these five tips when creating your rental ad to help you steer clear of any nightmare potentials and land you that perfect tenant.
When advertising your apartment, having good quality photos will influence the first impressions about your rental space. If the photos are poor quality and not very good, they can automatically deter potential tenants from applying. When you use good photos you can attract more interest, while setting a respectable and professional impression.
Being a good landlord means being professional, courteous, and also up front about any issues. When it comes to screening, it’s always best to be honest with potential tenants. If there isn’t parking, say so. If the nearest subway stop is 10 km away, don’t say it’s near transit. By being honest right from the get-go with your potential tenants, you won’t waste your time (or theirs) showing the apartment to people who aren’t a good fit. There is someone out there who bikes to work or works from home so transit is not an issue. Appeal to that person, don’t fudge the truth to appeal to someone else.
If these issues are fixable, take care of them before putting up the listing to attract the right tenant and maximize the rental value of the unit.
Always use a professional tone and language when creating the write-up for your advertisement. Avoid using any slang, or delving into any unnecessary details about your life, home, or situation. Anything that’s doesn’t involve direct details about the rental property – leave it out of the ad. In addition to using quality photos, using professional language will increase your chances of attracting professional and respectable tenants.
Many apartment hunters search by keywords, so if your apartment is buzzworthy, use the right vocabulary. Spotlight the great features of your rental, like washer/dryer in unit, spacious, 5-minute walk to U of T, updated kitchen, parking included, den etc.
When you create your ad, be very clear about what you expect from a tenant. Whether it’s no smoking, no pets, or if you’re only looking for a single occupant, whatever it is, be clear about your requirements and expectations. Once again, don’t waste your time or theirs, and you’ll find the right tenant.
Treat this as you would a business and always remember to maintain a professional attitude towards this role. If you treat your tenants with a level of professionalism and respect, the chances are much greater that they will treat your property with the same level of respect as well.
Need a little help searching for the right tenant? Just give Medallion Capital Group a call. As a leading property management company in Toronto, we take care of everything so you can focus on the short- and long-term return of your real estate investment, not the day-to-day stresses.