Times are good for owners of income properties. More Americans are renting their home than have at any time in the past half-century, and real estate investments have begun to look like better investments than stocks. And the pace isn’t slowing down: more and more Americans tell pollsters that they believe renting to be cheaper than buying, which is good news for the folks who are investing in properties that rely on rent to be profitable.
But, of course, there’s something—or someone—that you’ll need if you’re going to make owning a rental property a profitable proposition. And that something or someone is a tenant, of course! There are plenty to go around, but you’ll want to get the best ones. They are the ones who pay rent on time and in the proper amount, and the ones who obey local laws, are respectful of neighbors, and will let you know right away if your property needs any maintenance or repairs.
So how do you get the right tenant? For starters, you craft the perfect rental listing so that great tenants are more likely to apply for your property. Here’s what you need to know about creating the perfect listing.
Where to post your listing
When it comes to getting great tenants, the key is to post your listing online. That’s where the vast majority of would-be renters are looking for their apartments these days: experts say that more than 90% of renters hunt for houses and apartments online.
Happily, this is easy to do. With the right landlord software, you can quickly and easily post your rental opportunity online. A good site will help you post a description and photos and will make your rental listing searchable and promotable.
The role of keywords
SEO stands for “search engine optimization” and it’s a very important concept in modern marketing, in real estate, especially. Search engines direct traffic on the internet, and businesses need to make sure that they rank well for the right keywords in order to draw in customers.
The search features within individual websites—including websites that host rental listings—are search engines, too. Your listing should hit the right keywords and keyword phrases in order to turn up in search queries that your ideal tenants will use. So pump up that listing with relevant keywords like “outdoor space” and “washer/dryer.” Do keyword research and optimize your post for the digital age.
Nobody wants to rent a place that they haven’t even seen. And in our busy modern world, few people are willing to head out to an apartment or home showing without first knowing at least a little bit about what they are going to see. So do yourself a favor and post some great photos of your apartment or home for would-be renters to check out.
Be sure to take photos the right way, too. Take your shots in daylight to show off your space’s natural light, and take photos from doorways and corners to make sure that you get the maximum amount of square footage in the frame.
Turning home hunters into renters
With the right online listing, you’ll get would-be renters hooked. And, if you’re using the right landlord software, you should also be able to include an online renters application that makes it easy for potential tenants to take action and request to rent your space. That will make it easy for you to review their qualifications, too, putting you on the fast track to better income property profits.