Tue 10 Sep 2019
As a landlord, it is helpful to think about the sort of tenant you want in your rental accommodation. It is understandable if your main focus is on finding a tenant who pays rent on time, and who cares for your investment. However, beyond this, there may be specific characteristics you are looking for in a tenant.
Some landlords prefer to let to families because they believe there is more stability in letting to families. Other landlords prefer to let to young professionals because they believe this type of tenant offers the best return for their money. It may be that your main aim is to find a tenant who is happy to stay with you for a prolonged period.
When a tenant stays with you for a long time, you save time and money. Finding and vetting new tenants is a drawn-out process, and it can be costly. Most landlords have concerns about void periods, so why shouldn’t a landlord look for a tenant who is willing to stay with you for longer? If you want to know how to attract long term tenants, we are here to help you.
When you vet tenants, ask what their priorities are
The vetting process is mainly to help landlords find tenants who can afford to pay rent, and who will care for the property. However, the process is also useful for gauging a tenants’ personality and what they want to achieve with the rental process. Ask the tenant if they are looking to find longer-term rental accommodation.
If the tenant responds that they are, they could be an ideal candidate to help you and them achieve their property goals.
Set the rental fee at an affordable level
Sometimes in life, it is better to think of long-term goals and outcomes as opposed to the short-term. It may be you can charge a higher rental fee and find tenants who are willing to pay this fee. After all, demand for rental property outstrips supply. However, before too long, most tenants will question whether they receive value for money in this agreement.
A higher than average or what the market suggests rental fee could lead to void periods, negating any benefit you may get from a month or two receiving a higher rental income.
Stage your rental property with your likely tenant in mind
All landlords should clean and declutter their property to a high standard. The landlords who go the extra steps in creating a rental accommodation that is tailored to the needs of likely tenants will find that they create a welcoming home environment.
An initial outlay of furniture that meets the needs of your tenant can pay dividends by encouraging them to stay in your rental property for longer.
If you are a Milnsbridge landlord looking to welcome tenants for longer, we can assist you. Book a valuation to ensure your price your property at an appropriate rate. No matter what help you need in reaching tenants, contact ADM Residential, and we’ll be more than happy to assist you.
We have a strong track record in assisting Milnsbridge landlords reach tenants. We’re available to help when you need us, we have a skilled and experienced team, and our landlord services, such as carrying out a detailed property inspection every four to four months, makes a massive difference in running your business.
"Everything handled concisely and accurately with minimal stress, even when issues arose outside of anyone's direct control. Can not recommend highly enough, "