Tips for Attracting Quality Tenants

As property owners, we’ve all been there:
 
A tenant’s credit comes back clean, they’re eager to sign, and everything seems to fall perfectly into place. But after a few short months, the nightmare begins.
 
Rent goes unpaid. Neighbors complain about late-night noise. The apartment’s a mess, trash is piling up, and a hundred-pound dog has apparently joined your tenant list.
 
Whether you’re managing a multiunit building or single-family home, bad renters are the ultimate mess to deal with. In addition to missing out on crucial rent payments, landlords are often stuck in an extended lease with little to no power to evict.
 
Fortunately, there’s a way to avoid the problem of problem tenants before the battle ever reaches its boiling point.
 
          
 
Lucky landlord?
 
Over the years, experienced property managers have developed a number of effective strategies for finding solid prospects. And no, it’s not all just luck.
 
“The best way to attract a quality tenant at your showing is by representing yourself as a high-quality landlord,” says Anne McMillin of Avail. “Demonstrating your organizational skills, providing clear information, and presenting a clean property will show potential tenants that you are a landlord they want to rent from.”
 
The showing is one of the most crucial parts of the rental process.
 
       

At this stage, it’s easier to find the most interested—and desirable—candidates. You should invest time, care, and attention into making a good impression. And while money helps, renovations and other upgrades are not necessarily the answer.
 
Before meeting with people, it’s a good idea to think about what you’re looking for in a tenant. What’s more important: cleanliness? length of lease? lifestyle? The showing is a great time to probe these topics and get everyone’s questions answered.
 
According to McMillin, “Quality tenants will expect you to know what you’re looking for in a tenant at the showing. Don’t be caught unprepared for questions about smoking, pets, cosigners, minimum monthly income, credit score, etc.”
 
Preparedness is key, but what else can you do to find the elusive unicorn of renters? Everest has five surefire strategies for screening success.
 
 

 
 
Tip #1
Offer private showings
 
         
 
Individual showings are a quick way to thin out your list and cut straight to the people who are both desirable and serious about signing. Sure, open houses have their perks. But showing the apartment at a single time alienates potentially great tenants who can’t make it. By scheduling private walkthroughs, you also give yourself the chance to pre-screen candidates.
 
“Landlords commonly believe that scheduling an open house is the best way to market their unit and save time,” says McMillin. “However, open houses can end up hurting your rental process, instead of helping it.”
 
 
Tip #2
Maintain your appliances
 
       
 
Property owners assume ‘good renters’ equals demanding, snooty, and needy. But the reality is, the type of people who make great neighbors and pay their rent on time desire consistency and quality. You don’t need to invest in fancy amenities or the latest tech upgrades. Instead, focus on the small details that speak volumes.
 
“Make sure any maintenance issues in the apartment are addressed before the showing and all appliances are working properly,” McMillin advises. “Even seemingly minor issues, like one leaky faucet or a loose doorknob, can raise concerns in quality tenants. You want to put your best foot forward and show you are an attentive, responsive landlord.”
 
 
Tip #3
Stage empty units
 
         
 
Did you know that a room without furniture actually appears smaller? If you’re showing an unoccupied apartment, staging is a sound investment to help prospects visualize the space. Quality candidates aren’t typically desperate for a place; they’re more discerning, and the hope is that they’ll move in and stay for a long time. Once the apartment is staged, be sure to follow other top industry tips for a successful showing.
 
McMillin says, “Open windows for some fresh air, take out the trash, vacuum, wipe down windows and counters, and pick up any loose items. You should also turn on all lights (bring a few spare light bulbs) and open all blinds for showings.”
 
 
Tip #4
Advertise nearby amenities
 
         
 
If you don’t live in the area, do some research so that you have a feel for the neighborhood and what it has to offer. Quality tenants will likely have questions about nearby shopping, dining, outdoor recreation, parking, and other services and amenities.
 
McMillin says there is no greater turn-off than a landlord who has no clue about the surrounding community: “Consider creating short supplemental handouts for people with young children (local schools, playgrounds, parks, daycares), and cars or bicycles (parking/storage and costs).”
 
 
Tip #5
Print handouts
 
         
 
Per our last point, there’s something about a flyer that conveys preparedness. In the digital age where everything is done over text, email, and online form, having a stack of pamphlets or handouts with pertinent information is very refreshing. Potential tenants will walk out the door with everything they need to take the next step.
 
“Demonstrate how organized you are by giving prospective tenants all the relevant facts about your rental property on a handout,” McMillin suggests. “Having a thorough handout means tenants have fewer questions and allows you to give them more personal space during the showing—less stress for you, and more inviting for them.”