As a property owner or manager, you can offer all kinds of incentives to lure in prospective renters. With Edmonton’s rising vacancy rate, it’s not uncommon to see Edmonton investors landlords offering the first month free or free cable or other utilities when tenants sign a long lease. But, it takes more than perks to get good, quality candidates through the door. Your property has to shine and shine brighter than everyone else’s property. The amount of rent you charge has to be fair and appropriate. If you have a home for rent and its sitting idle and costing you money, take a look at what might bring your property some action.
Keep Up the Upkeep
Maintaining your rental home is important even when it’s sitting empty. Between tenants is the perfect time to paint, clean the carpets and make sure the baseboards or windows sills are in good shape. Loose doorknobs and pulls on kitchen cupboards should be checked and the toilet should flush properly. Bring in professional cleaners if you must. It will cost you some money – a few hundred dollars perhaps, but it’s all part of the investment.
Stage an Empty Rental
If staging a home works for sellers it can work for landlords eager to showcase their rental property in the best way possible. A professional staging company will bring in the furniture and accessories to make an empty rental look more inviting. A staging firm that knows what they’re doing will play up the positive aspects of your home and mask some of the drawbacks. An upfront investment that hopefully stop the bleeding if you’re making mortgage payments on your property that’s sitting idle.
You as the Future Landlord
Good quality prospects will be checking you out as well as the property. Be at the appointment to show your rental property at least 20 minutes ahead of time. Open the blinds or the curtains, sweep the leaves or the snow off the front step and turn on the lights. If the home smells musty, bring air freshener or a candle with an appealing scent. These prospective tenants are your customers and as a landlord, you’re in the customer service industry.
Little Upgrades Win Big Points
If you’re handy then you’ll save a few dollars. If you need to hire a handyman it will still be worth your time and money. Switch up some little things like old ceiling fans, worn out bathroom faucets or rusty shower curtain rods. If design or esthetics isn’t your think, bring in a friend and get some objective advice about what can be done to upgrade your home to create a good first impression.
If you’re renting out an apartment in a building you may not have much control over how the building looks aside from talking to the property manager or keeping involved with your condo association as a property owner. But if it’s a town house, duplex or single-family home that you’re trying to get rented then do what a home seller would do and tidy up the outside. Trim trees, cut the grass, dig up weeds, fix the fence – you know what needs to be done. Do it yourself or hire it out. Leaving an unkempt yard may attractive equally unkempt tenants. Let prospects know your property has value.
Is your property alarmed? Want prospective tenants to know they’ll be safe in your home and in your
neighbourhood? But their mind at east and invest in a home security system. Your tenants will be three times less likely to have a break-in.Not only will these actions help you get good, long-term tenants they may help you justify keeping the rent the same or maybe even higher.