According to studies by the Institute of Real Estate Management the following 7 factors are essential in attracting a tenant.
Neighborhood: 23% While you can't easily transplant your rental home you can have a positive impact on your existing neighborhood by screening your applicants and selecting a tenant with a history of properly caring for past rental homes.
Appearance: 19% You only get one chance to make a good first impression! Approach your property with an objective eye. Is the yard freshly mowed, edged and any hedges trimmed? Does the entry look warm & inviting? Does the exterior look well maintained? Is the interior clean? Do the appliances and fixtures sparkle? Do all light fixtures function? Are the window coverings in good condition? Are the carpets and floors clean? If you can't repair it - replace it. If you can't clean it - erase it with a fresh coat of paint.
Floor Plan: 19% If the home is currently occupied de-clutter as much as possible. An empty room always feels larger.
Rent Levels: 16% Set a reasonable fair market rent rate. Nothing costs you more than a vacancy.
Amenities: 10% Replace a worn out light fixture with an inexpensive ceiling fan and light kit. Install new vinyl mini-blinds on all windows. Replace dingy switch plate and outlet covers with new ones. Lay out a new welcome mat at the front door. Install an extra towel bar in the bathroom. Install a new shower curtain.
Reputation: 7% You are known by the company you keep. CENTURY 21 Alpha Property Management enjoys a reputation for excellence in the property management field. We gladly offer you the benefit of our experience and expertise.
