As a property manager, you want to look for every opportunity for growth. This includes expanding your pool of potential tenants. If you market to more people or make it easier for them to find you, then you can count on having more tenants in the future.

Expand Your Pool of Potential Tenants: Using Multiple Listing Sites

To make it easier for people to find you, your property should be listed on multiple listing sites. Not everyone uses the same sites when they’re looking for a new property. By using multiple sites, you can expose yourself to more people. Not only does using multiple listing sites increase the number of potential tenants, but it can also increase the number of rentals you get. As a property manager, one of the biggest challenges is vacancy. However, you won’t need to worry as much about vacancy if more people know about your property.

Upload Better Pictures

In order to get more tenants, you need to prove that your property is worth it. You can list out amenities and benefits all you want, but sometimes words simply aren’t enough. People like to look at pictures of their potential homes. It allows them to see what the conditions are like and it’s easier to imagine themselves living there. To pull in more tenants, you need to upload better pictures with your listings. Hiring a professional is a good idea. They can take high quality pictures that show your property in the best light. This will help to increase your potential tenant pool.

Expand Your Pool of Potential Tenants: Build Your Reputation

When people look for a home to rent, they will often want to know about the landlord or property manager. Your reputation can make or break a deal when people are considering your property. Tenants want to rent from someone who is reasonable and responsible. Improving your reputation will make it more likely for people to rent from you. Additionally, more people are likely to recommend you to others. You can build your reputation by communicating well with current and potential tenants, keeping up with maintenance, and being understanding (within reason) when dealing with your tenants’ problems.

Allow Pets

Tenants with pets often have a difficult time finding a new home. Not all properties allow pets because of the potential damage they could cause to the property. If you allow pets at your property, you open yourself up to an entirely new pool of potential tenants. If you are hesitant to allow pets, there are measures you can take. For example, you can charge a deposit and an additional monthly fee for people to have pets. This can cover any potential damage that may occur. You could also list out specific rules that tenants have to follow. However, more pet friendly properties will attract more people. The important thing you need to remember is preparing your property for the next tenants after tenants with pets move out. Most dogs, even short haired dogs like Chocolate Labs, will shed fur and dander. These allergens can irritate other tenants, so make sure you clean the property well after tenants leave.

Expand Your Pool of Potential Tenants: Keep Up With Maintenance

There are many advantages to keeping up with maintenance around your property. If you always wait until things break or become a problem, you end up decreasing your reputation and souring your tenant’s view of the property. This can also cause problems between tenants. Putting off maintenance only means you have to take more time in between tenants to get everything repaired and ready. This delays new tenants moving in. By keeping up with maintenance, your property is always ready to welcome new tenants and you can provide them with a quality experience. One way to keep up with maintenance is by providing routine inspections of your property to make sure everything is in working order.

Improve Amenities

If you want to attract more people to your properties, you should consider improving or adding some amenities. Depending on the type of property you own, there are many different amenities to include. Appliances, such as a dishwasher, washer and dryer, etc. are all welcome additions to potential tenants. You could also include WIFI, utilities, or even cable. If you own a complex, you could have community amenities like a pool or a sports court. Adding more to your property is a good idea. However, you should also focus on the quality of what you have. Updates and replacements can keep your amenities in quality condition for all future tenants. The better your amenities, the more likely people are to consider your property.

Expand Your Pool of Potential Tenants: Provide Green Space

Tenants like to have some sort of green space on or around their property. The type of green space will depend on the tenants. Families may like to have some green space for their kids to run around and play. Some tenants might want to have space to garden. Others simply want to have something nice to look at. Having some green spaces or even some beautiful landscaping can improve the look of your property and make it more appealing to tenants. People like living in beautiful places and having some green space and touches of nature provides them with a nice place to live.

Know Your Audience

It’s possible that you have a particular clientele in mind for your property. For example, if you own an apartment building in a college town you might cater to college students. A home might appeal more to a family. Knowing who your intended audience is can help you to find them. Different people look for properties in different ways. Some might look online. Others might rely on print listings or even word of mouth. Consider your audience and then market to them in the method that would best reach them.

Having a large pool of potential tenants is good news for any landlord or property manager. With a lot of potential tenants, you open yourself up to fewer vacancies and more revenue. It’s important to find lots of ways to expand your pool.

Read this next: Important Maintenance Items to Complete Before New Tenants Move In

See you at a meeting soon!

The Southwest Florida Real Estate Investment Association is the leading source of SWFL real estate investing events that provide investment education and networking in southwest Florida. We analyze the housing market and foreclosures and provide information, education and networking events in order to build a network and knowledge base for investors and potential investors. Our members include real estate agent, brokers, investors, hedge fund managers, rehabbers, wholesalers and more.

Our SWFL REIA General Meeting is held in Fort Myers where we provide education on hot topics in investing and an opportunity to enjoy the camaraderie of your fellow investors. You’ll get a chance to ask for advice from successful real estate professionals and even make a few deals on your latest projects.

To become a member, anyone can register as an individual, a couple, or a corporation. Being a member opens the doors for endless networking opportunities, advice from members with decades of experience, new ideas from entrepreneurs, camaraderie with those just beginning, and deals and contracts done in the meeting room. For those interested in Cape Coral rental property investment and/or Fort Myers rental property investment, SWFL REIA will be able to provide a network to help launch a successful investment career.

The SWFL REIA is known and respected as a source of current, actionable and useful information about the housing market in the area that we meet.

We meet twice a month.

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One of the premier sources for real estate investing networking and education is the SWFL REIA. In the real estate world, the SWFL REIA is different in that they do not do information product sales. Their meetings are focusing on the best ways of investing in real estate by collaborating with other property investors who are sharing their experiences.

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