Over the past few years, I have speculated over my experiences with successfully placing and overseeing the placement of several hundred tenants into their homes. With this speculation, I have observed that there is one “P” word that makes all the difference in the type of tenants you will attract to your rental property:
Presentation, presentation, presentation!
Why is this so important you ask?
There are 3 key factors that explain how & why presentation is so important, and how paying attention to these key factors will improve your chances of attracting and placing great tenants.
These 3 Ps must always be in check…and here’s why:
The first “P” stands for Personality!
When prospective tenants are calling to enquire about your rental unit, your tone and temperament are key; tenants are easily scared away by saying the wrong thing, the wrong way! Remembering to be kind, courteous and welcoming in your tone will ensure that the caller feels valued; it also shows that you are taking the time to find out who they are. Remember to smile – even over the phone; trust me, prospective tenants will notice! Physical appearance also plays a large factor: dress to impress and always put your best foot forward. Tenants are certain to take you more seriously and respond accordingly. Your goal is to be approachable, yet professional. If all goes well, you will be dealing with these tenants for the next few years – first impressions always stick!
Our next “P”: Property.
A property that presents itself well (think curb appeal!) will attract good tenants. Valuable, long-term tenants are looking for rental units that offer quality and that aren’t intimidating to step into. Good tenants are quick to turn away from units that are in need of repairs and cleaning. While your rental units do not have to be comparable to the Ritz, the unit and building itself should be clean, and free from any unmaintained, noticeable damages. This shows the prospective tenants that your care about your property and provides a base standard of care for any prospect looking for tenancy approval.
This brings us to our third “P” word: Paperwork
Be sure to keep your rental applications concise, clear, and convincing! This paperwork will convince the unsavoury tenants that you mean business and that you will not simply accept their word in exchange for tenancy approval. Good tenants will notice the consistency behind your paperwork and understand that it is policy. This ensures that your property is well maintained and is continuously placed with good tenants. Once their application is approved they will likely feel honored to have been chosen and feel a sense of motivation to be great tenants!
All three of these factors combine to form the overall Presentation of your property. Remember that first impressions count for a lot, and that when it comes to reeling in good tenants, you only get that one chance to ensure that they come back to you!
Written by: Michelle Pelot (Owner of DeRive- Property Management & Tenant Placement)
Edited by: Brii Bruce (Administrative Assistant- Abbey Rentals & Property Management)