How Do You Lease Your Investment Property During a Pandemic?
A good return on your investment property requires a long-term, high quality tenant. But COVID-19 has changed everything .
So the question is, how do you find great tenants during a pandemic?
1. First impressions
Like everything in life, first impressions count. It’s the same with renting your investment property – and it starts with the online photos you use to promote your property. Amateur photography won’t be good enough. You need to invest in a photographer who knows what they are doing and can provide advice.
2. Understand what your ideal tenant is looking for
If your investment property is a 3 bedroom home with spacious garden, your ideal tenant won’t be single. A one bedroom apartment won’t appeal to a family of 4. You need to thoroughly understand what potential tenants are looking for and target your advertising to those who are the best fit for your property.
3. Know the flaws and fix them!
The rental market is competitive at the moment so you need to ensure your property is in impeccable condition. Before you go to market, be critical of your property. Are there any faults or flaws that could put off a great tenant? Do you have any outstanding repairs or maintenance issues that need attention? It’s a tenant’s market at the moment and this trend will continue for some time. As a result, tenants can be fussy and will compare your property with others that are on the market.
4. Have flexible opens
Offer morning or evening appointments if required. By being flexible, you will be more likely to secure a great tenant – fast.