Do you want to market your rental property, attract high-quality tenants, and make more money? Of course, you do!
But if you're like most landlords, you don't know where to start with property marketing. And in a demanding market, that can mean the end of your rental business.
But it doesn't have to be that way. With the right information and tools, you can become a savvy landlord.
You can make more money, have less stress, and have fun doing it! Here are several tips to attract tenants in a tough Fort Collins, CO, market.
Boost Your Curb Appeal
You've heard this before, but it's true. First impressions are everything. If a potential tenant drives by your rental and sees a mess, they may think you don't care about your Fort Collins area property.
One of the marketing strategies you can use to attract the best tenants is to keep your property looking good. That means cleaning it regularly, trimming bushes, raking fallen leaves, and more. If you don't have time to do these things yourself, hire a lawn service to do it for you.
Offer Long-Term Leases
In a tough market, tenants want to know that they won't have to move again in a few years. If you offer them a long-term lease, they'll feel more secure and less likely to look elsewhere.
You can offer a lease that lasts anywhere from 1.5 years to 3 years. This will help your property stay occupied, which can help boost your rental income.
Landlords are often hesitant to allow pets because they can cause more damage than tenants. But if you include this option, pet owners will choose your Fort Collins area property over non-pet-friendly rentals.
Plus, you can boost your rental income with a pet deposit or an extra fee.
Include a clause in your rental applications and leases that the tenant carries responsibility for any damage caused by their pet. This will protect your property from being damaged by dogs, cats, birds, and other animals.
If you're wondering how to attract tenants, consider making it a safe place for people with disabilities. Install ramps, grab bars in showers, and other modifications.
Make the property wheelchair accessible and add light switches that are easy to reach if you're sitting.
Add clear signage and other features that are helpful for people with limited mobility. Aside from keeping up with ADA regulations, these modifications can help you attract a larger pool of tenants.
Make Small Upgrades
While some upgrades are large and expensive, others can be relatively inexpensive. For example, you can replace old carpeting, paint the walls, and replace broken fixtures.
You can also replace broken appliances, such as the oven, dishwasher, and microwave. Not only will this help you make your Fort Collins area property appealing to potential tenants, but it will also help with tenant retention.
Property Marketing: Find and Keep Quality Tenants
Property marketing doesn't have to be difficult. With the right tools and strategies, you can connect with potential tenants and keep your rental property occupied.
PMI Northern Colorado provides you with excellent customer service while preserving your investment in real estate. If you need any help with rental property management, contact us today!