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Tips to Attract a New Tenant in a Tough Market

Tips to Attract a New Tenant in a Tough Market

Since about 65% of young adults rent their homes rather than buying property, the market for rental real estate is increasing. If you're a budding landlord looking to attract new tenant prospects, you'll need to advertise your property and reach out to prospective renters.

But how can you attract people to your location over competitors'? Read on to get some tips and tricks on how to get people interested in tenancy at your residence.

Allow Pets on Your Property

Letting renters bring pets onto your property is one of the simplest and least expensive ways to attract them. About 90% of renters have pets and 80% of them refused to live in a property that didn't allow their furry friend. When you consider that most pet-lovers consider their cats and dogs to be part of their family, this makes complete sense.

You might be worried about property damage, but children in properties actually can be far more destructive than animals. You also can charge an up-front security deposit if you're that worried about pet damage. As long as you set reasonable restrictions on how many pets a tenant can have and how much they can weigh, you will likely be fine.

Offer Rewards and Promotions

Some Florida landlords have begun to offer rewards for signing a lease with them. Usually, these perks take the form of gift cards to nearby venues (such as stores and restaurants). If you're not sure what kind of card to offer, a Visa gift card is a great way to get off on the right foot with anyone.

If you're in a financial position to do so, you can offer a month of discounted rent for those who sign a lease during a certain time frame. This is usually a huge draw for those already paying hefty moving costs in addition to the required security deposit. You'll really stand out this way.

Sell Yourself (as Well as Your Property)

No one wants to live under a landlord that's rude or refuses to communicate with them. Go out and meet tenants personally. Say hello and make yourself approachable.

Make sure to look over professional property owner resources to become a more informed and caring landlord. This is a great way to show tenants that you value them and their needs.

Keep Current Tenants Happy

Keeping existing tenants happy is also a great way to draw in new ones. They'll recommend their property to friends and family. They also may leave good reviews online, which 84% of people trust just as much as a personal recommendation.

Happy tenants also make for better neighbors. When you choose new tenants, you need to make sure that they see your property as a good community. This means giving them neighbors that they can positively interact with and live near without stress.

Find New Tenant Prospects Today

While finding a new tenant may sound like a daunting task, experts are here to help you find someone reputable and reliable. Now that you know how to find someone who's a good fit for your property, it's time to begin your real estate marketing journey. Contact us for some tips on spreading the word about your Fort Lauderdale rental property today.