It must be very disheartening to see your hard-earned rental property locked up, generating no revenue for you. There could be a variety of reasons for why that’s how things are, but when we get to the bottom of the problem, there are two fundamental questions that we must address here.
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How to properly sell a property?
Let us try to answer these questions for you and see what we discover.
Is Your Property Inadequate?
Oftentimes, the reason why tenants looking for rental do not prefer your property is simply that it isn’t appealing enough. They sense they would have to spend some of their own money in order to make your property more habitable. These issues could be fixed with some minor renovation work here and there. For example, installing a backsplash, face-lifting certain dated aspects of your house, or modernizing your kitchen a bit would not be a bad idea at all. The idea is to tempt the tenant looking for the rental to such an extent that
it becomes hard for them to turn down your property.
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Is Your Property Fairly Priced?
It is imperative that your property is fairly priced. In today’s world of expensive housing, the last thing a tenant looking for rental needs is an overpriced property. It is natural to overestimate the worth of your property, but it is important to have reasonable expectations. You now have the privilege of evaluating the worth of your property free of cost.
Is Your Screening Procedure Too Strict?
It is perfectly reasonable to check for the credit score, criminal history, rental history and income to determine the quality of a rental application. However, it is advised that your expectations are reasonable. A credit score of ‘fair to good’ is generally considered safe, and an average income is certainly doable as well.
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Is Your Property Manager Unfriendly?
A property manager handles important tasks such as finding decent rental applications, and passive rent collection. An ideal property manager is the one that is liked equally by both – the landlord and the prospective tenants. If your property manager gives off a negative vibe to tenants looking for rental properties, it is highly likely that they would not choose your property. It is important to properly conduct some research on your property manager.
Is Your Property Listed Online?
It’s 2018 now and you should have your property listed online. It is important so that more people have the chance of finding out that your property is available. Online reviews of properties are heavily trusted and plays a huge role in the shortlisting process for tenants looking for rental properties.
If you are looking to list your property, Rental Advisors would be a great platform. Alongside robust landlord services, they offer a solid platform for rental applications as well. Now watch how this one rents out in a hurry.