Attracting Tenants: How to Make Your Rental Property Stand Out

Owning a house is one of the most fulfilling accomplishments that any person can achieve. Unfortunately, not everyone can buy residential property due to financial struggles. The average cost of a house in the U.S. is around $226,000.

Property prices also vary depending on the state you are in. Expect a higher price if you plan to buy from prominent cities such as New York, California, Massachusetts, and Hawaii.

Population and Demographics of Renters in the U.S.

The number of households living in a rental property has significantly increased. The population of renters increased from 31.2% (2006) to 36.6% (2016). Millennials and young adults are likely to rent a home rather than buy one. Some of them prefer to rent due to financial reasons while others do so because of personal preferences. Regardless of their reasons, property owners can take advantage of the demand for rental properties.

white house model and keys

How to Attract Tenants to Rent Your Property

Statistics revealed that there are more than 48.5 million rental properties in America. If you own a rental property and you want it to stand out from the competition, you might want to step up your game. You need to offer tenants wonderful features, such as the following:

  • Give your interior a makeover — Interior makeovers don’t have to be huge projects such as getting a major living room renovation. You can repaint your walls to brighten up dark and old-looking walls. You can also re-arrange furniture and appliances to make your space look less cluttered. A clean and “Instagram-worthy” interiors can easily attract tenants.
  • Clean kitchen and bathroom — Aside from the bedroom, these two areas are probably the most important spaces for renters. Make sure that these areas are sparkling clean. Clean the floor, ceiling, walls, furniture and appliances. Cabinets should remain uncluttered as well.
  • Invest in professional landscaping service — Another feature to attract tenants is a landscaped lawn. This adds to your property’s curb appeal and it helps people notice your unit easily. You can get professional landscaping lawn care to avoid the hassle of constant maintenance.
  • Install adequate lighting system — Make sure that your property is well-lit, especially at night. Make sure that you have enough light bulbs and lighting fixtures indoors and outdoors. Don’t forget to add lighting outside, especially on walkways.
  • Increase security — Safety and security are extremely important for tenants. Install an alarm and security system to assure tenants that they will remain safe while renting your property. Research about the best security systems and don’t forget to teach your tenants how to use it after they move into your property.

With these tips, your property will become more desirable for tenants. After fixing your property, ensure that you make huge efforts to promote it. Post high-quality photos on house listing websites and social media. Make sure your advertisements will get noticed by potential renters.

You can also have them personally take a look at the property so that they can check it out. Be cautious, however, when choosing tenants. Don’t forget to conduct a background check to ensure that you won’t have any issues with them while they are renting your property.

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