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With the current low prime rate of only 7%, many tenants are opting for purchasing a property instead of renting. It has become imperative for Landlords to spruce up their rental properties to get tenants interested in their properties.
Below are some tips to help you get those feet through the door:
1. Do a few minor upgrades.
To get potential tenants interested in your property, you need to make sure your house is visually appealing. No one wants to rent a place that still has kitchen cabinets from the 80’s, plumbing from the 70’s or flooring from the 60’s.
You do not need to spend thousands of Rands to do this- there are cheaper alternatives. Paint those cabinet doors to get rid of those oh-so-tired cream paint. Get new toilet seats and shower curtains to give the bathroom a bit of a face lift.
The moral of the story is that first impressions last and an updated house is an attractive house for potential tenants.
2. Consider going pet friendly.
Often landlords prefer no pets in their rental properties, because of the potential risk of damage to their property. The other side of the coin is that there are a lot of potential tenants with pets.
To heighten the prospect of getting a tenant for your rental property you must adapt to what the tenants want. Which are pets. Do not worry too much about the damage to your property- the risk deposit is for that.
If you are still not comfortable, you could always charge more than one month’s rent for potential tenants with pets.
3. Deep-clean your House.
A dirty house is an ugly house. This is the unfortunate truth.
When your house is empty, call on a cleaning service to clean the house from roof to floor.
This will make the house more attractive to potential tenants.
This added expense could make a massive difference in the turn-around time for getting a new tenant.
4. Professional advertising.
Most Landlords work through Real Estate Agencies to list their property on the market.
Regardless of if you choose to do this or if you want to advertise in your own capacity, it is important to make sure the advertisement is as professional as possible.
Almost all prospective tenants turn to sites like Property 24 and Private Property or even Facebook when searching for a property to rent.
The advertisement must have clear pictures, a good description, and an accurate list of amenities available in and around the house.
5. Do not inflate the price.
Because the rental housing market in South Africa is currently a renter’s market, it means there are more properties available than eligible tenants to rent them.
It is important that your monthly rental amount is not more than the current going rate in your neighborhood for similar houses. Estate Agents will be able to help with this, but you could also get this information from sites like Property 24.
Potential tenants will be drawn to competitive prices.
6. Try adding some benefits.
We live in a world where everyone wants everything at their fingerprints, and this includes having things at the comfort of your own home.
Most rentals now come with the added benefit of pre-installed fibre for Wi-Fi, a cleaning service once a week or a security system installed. Try and think what benefit will be easiest for you to add to the rental and advertise it as well.
Tenants will be drawn to this, as they do not have to worry about it further down the line.
With these tips you are sure to get a tenant in no time! And remember, change is inevitable, it is what we do with it that counts!
Be sure to check out the item of value on our website that can be customized with your business details and photo!
With Love,
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