Creating an advert for your rental property is an exciting experience.
It’s your time to showcase your property, capture people’s attention, engage with potential tenants and leave a lasting impression. You’re about to meet some great people and choose lucky ones to welcome into your place.
Unfortunately, your property’s location and price alone may not attract the right kind of people who you’d be happy renting your investment property to for months or even years to come.
So here are some of our tips to start your journey on the right track and make sure you end up with some great tenants at the end of it.
1. Include good photos
Photos are everything. Great, bright, clear photos displaying your property in the best light is what going to rent your place. Good photos can be the reason why your property is on the market for days and not weeks. So, do include good photos of all major rooms - living spaces, kitchen, bathroom, bedrooms. And don’t forget the details - grassy backyards, big garages, views, or just your house facade, might be the winning shot that makes your property stand out from the crowd.
The clearer the photos, the less likely people will get disappointed when attending a viewing. No one likes wasting time.
2. Get the price right
Do your research. Have a look how much similar properties in the area are going for.
Tenants are very sensitive to price, especially in the mid and lower price ranges. Pricing your rental correctly can make a huge difference.
Set your price too high and you’ll struggle to attract potential tenants but set it too low and you’ll be inundated with enquiries and applications. So, take the time to work out what the rental property is really worth.
But don’t be afraid, valuing the market rent for a property is easier than you think. Here is our article on this topic.
If you’re getting too many or too few candidates, don’t be afraid to adjust your price accordingly.
3. Pay attentions to little details
You don’t need to use fancy and extravagant language (commonly found on the real estate ads) to rent your property.
But you’re writing an ad to capture people’s attention, and words matter a lot, actually.
You should have a good idea of what kind of tenant you’re looking for, or the type most suited for your rental property. So, describe the property in a way most appealing to them. Be specific, informative, describe it in a way you would if asked about your property in person.
Don’t forget little details that you would be interested in if you were the one moving in - what’s included in the rent, how far is the place from the public transport, is the place fully-fenced.
Remember, a good listing is a short one. So, try to provide as much information as possible in as few words as you can master.
4. Don’t narrow your criteria down too much
It’s important to not get too specific and apply too many restrictions on the type of tenants you’re after. These limitations can greatly limit number of people enquiring, applying and viewing your rental.
If you’re not getting enough enquiries, try widening your crate to capture a larger pool of applicants.
5. Take your time
Whatever you do, don’t leave listing your property until the last minute. Give yourself plenty of time to advertise your property, find and select the best possible tenants.
Don’t rush the process and cut corners. To save yourself a little time by not doing proper tenant checks on the chosen applicant can cost you a lot of money and headache long term.