Attracting Tenants in Single-Family Housing: 5 Tips

Single-family housing is one of the most popular types of accommodation for renters. It offers many benefits, such as privacy for the family, space, and a yard.

In this type of industry, attracting high-quality tenants is critical to success. And while it's true that property owners are primarily responsible for their properties and tenant relations, attracting quality renters is a two-way street. Just as landlords have a responsibility to market their rentals and perform due diligence on applicants, renters also have a role to play in the process.

Fortunately, there are tips to attract better single-family residents that you can use as a guide to encourage high-quality renters to apply for your properties. Here are five excellent ways to do just that:

1. Have a Well-maintained Property

A well-maintained property is always desirable whether you want to live in it or rent it out. Good tenants are always on the lookout for a secure place that they can call home and not just a house. If you maintain your property well, you will be able to attract better tenants who will take care of your house as if it were their own. This, in turn, will help keep your property in good condition and increase its value over time. 

ExactEstate provides simple solutions to manage your rental property so you can avoid costly repairs and damages. Our software can create, track, and manage work orders to help you keep your property in excellent condition.

2. Establish a Good Screening Process

Screening your tenants is one of the most important steps in attracting quality renters. A good screening process will help you weed out applicants who may not be the best fit for your property. 

The screening process should include a criminal background check, employment verification, and a credit check. It provides a number of benefits such as:

• Minimize the risk of problem tenants: By screening your applicants, you can identify any potential red flags that may cause problems down the road.
• Attracts quality renters: Good tenants are usually more than willing to go through a screening process because they understand that it's in their best interest to do so.
• Legally deny unqualified tenants: If an applicant does not meet your screening criteria, you can legally deny them without having to worry about any legal repercussions.
• Avoid evictions: An eviction can be costly and time-consuming but can be easily avoided by screening your tenants properly from the start.

Single-family property management companies like ExactEstate can help you with the screening process and provide you with the tools you need to make an informed decision. Our tenant screening reports are accurate and up-to-date, so you can be confident in your decision.

3. Stage the Property To Make It Look as Appealing as Possible

Family homes are a hot commodity, and there's a lot of competition out there. Tenants are looking for a home that they can see themselves living in, so it's important to make your rental property as appealing as possible. This means taking the time to stage the property and make it family-friendly can lead to a lot more interest from high-quality tenants.

Some of the things you can do to make your rental more appealing include:

Declutter and Customize the Space 

Get rid of any personal items and clutter that could make the space feel small or cramped. This includes things like excess furniture, personal collection, and knick-knacks. You want the tenant to be able to imagine their own belongings in the space, so customizing it to a family set-up can be helpful.

Create a Neutral Palette

Painting the walls in neutral tones and using light-colored window treatments can make a big difference in how appealing the space looks. This will help the tenant to feel like they can make the space their own if they're able to add their own personal touches.

Focus on the Kitchen and Bathrooms

These are two of the most important rooms in a rental property, especially for families with kids. Tenants will be looking for a space that's clean and well-maintained with updated appliances. You can make these rooms look as inviting as possible by adding cabinets for storage, a new stove, faucets, and some greenery.

Add Some Stylish Touches

Any little details that you can add to make the property look more stylish and inviting will go a long way. This includes things like adding new hardware to cabinets and doors, updating light fixtures, and adding some colorful throw pillows or curtains.

Make Sure It’s Clean

A clean and neat looking property is always going to attract more attention than a house where potential tenants may feel they will have to do a lot of work themselves just to make it presentable. Be sure to declutter, vacuum, and dust before any prospective tenant comes to take a look at the property. You may even want to consider hiring a professional cleaning service to do a deep clean.

4. Be Available for Showings and Be Prepared to Answer Any Questions Potential Tenants May Have

When you're renting out your property, one of the most important things you can do is be available for showings. You never know when a potential tenant is going to want to see the place, so it's important to be as flexible as possible. That said, it's also important to be prepared to answer any questions they may have. Potential tenants will want to know about the property, the neighborhood, and your expectations for them as tenants. It is important to be upfront about any potential problems with the property, such as limited parking or a noisy area, so there are no surprises later on. By being honest about potential issues, you will show potential tenants that you are transparent and trustworthy.

5. Provide a Rental Agreement That Covers All the Important Details

A rental agreement is a legally binding contract between a landlord and tenant. The agreement outlines the terms of the tenancy, including the duration of the lease, the rent amount, and the responsibilities of each party. A well-crafted rental agreement can help to protect both landlords and tenants by providing clear guidelines for their relationship. For example, the agreement can specify what kind of damage is covered by the security deposit, how many people are allowed to live in the rental unit, and what kind of changes can be made to the property. By covering all of the important details, a rental agreement can help to ensure that both landlords and tenants are treated fairly.

With ExactEstate's platform for property management, we can help you create, update or e-sign a rental agreement quickly and easily. You can also organize all of your important property documents in one place so you can easily find them when you need them.

Conclusion

If you’re looking for tips to attract better single-family tenants, consider using one or more of these methods. Of course, there are many other things you can do as well, but hopefully, this gives you a good starting point.

Utilizing our property management software that offers tools that can automate much of this process will make it easier to identify qualified candidates, set expectations, and keep track of important documents. When you’re ready to take your tenant search to the next level, be sure to check out our demo page and see how we can help you streamline the entire process.