Being a landlord can be filled with a myriad of challenges, but rising to the occasion and getting the property rented by the right tenants is a goal that is definitely obtainable. Sometimes, though, it takes a great amount of planning and foresight to make sure you reach that objective.
That’s definitely true of being a landlord who owns an investment property, especially in an apartment setting. From making sure it is (or isn’t) occupied by current renters to sprucing up the place to ensure that it looks appealing, there are ways to earn a rental customer if you able to make sure the setting is at its peak for viewing.
The realtor.com website recently shared some valuable info on how to showcase your apartment and attract the best possible renters for that space, including how to involve current tenants in the process in the most effective way.
Current tenants vs. prospective ones
It’s important as a first step, if needed, to square things away with the current apartment renter. The article states that 24-hours’ notice is sufficient to let the current renter know you are showing the apartment for the next occupant to possibly sign the lease. It would be a good idea, though, to check with county or city ordinances on the matter.
It’s also important to note that in most municipalities, renters don’t have to open their homes for showings as part of the rental agreement. And, it goes without saying, but ensure that you are complying with likely on-the-books statues and not discriminating against a protected group – inadvertently or otherwise – and run afoul of any Fair Housing laws.
Lastly, be sure to let current tenants know that you will be there during the tour to keep an eye out for their belongings and ensure that their private space remains intact. Giving that extra piece of mind will keep that crucial relationship in good standing.
Tips to maximize the space for appeal
There are key areas that the article points out should be especially clean: bathrooms, baseboards and windowsills. Clutter in general should also be dealt with before the prospective renters knock at the door.
Don’t forget to also make a good first impression during the drive-up to the complex or property you own. Taking away debris from outside areas, making sure entrance areas and walkways are clean or cleared, and even mowing the lawn are all crucial to set the tone.
A little early TLC – both in key relationships as well as rooms in an apartment – will go a long way to having rentals be consistent on your properties. You can also learn more about how our association can help you with any question or concern as a landlord by visiting our website.