Convincing the renters to move into your Baltimore rental property instead of competitors’ is not an easy task. This requires your efforts; you need to send the message to the renters that moving into your property will be much more beneficial for the residents than moving into any other property in the same locality. But, now this is the main question that how can you make your rental property more beneficial for the tenants than your competitors so that the tenants would like to move in to your property and will also live for longer ?
Many property management companies in Maryland can compete by offering some competitive rental prices. However, you can’t always compete on price, location or other traditional benefits. You may also not have enough money or budget to offer high-priced amenities in your property that can help in attracting renters. So, at such case, you will have to be more creative in order to stand out from your competitors and hire the quality tenants and keep them for longer.
If you want to attract quality tenants and keep them for longer then, here are creative and affordable ways to keep your tenant for longer.
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Cash Back Offers for Good Renters
There are many tenants who pay their rent late or sometimes also cause damages to your property which can end up costing you money, that’s why it is good hire quality tenant for your property.
We always want to punish the late rent payers but why not think to reward the good renters who always pay the rent on time and never violate the terms of the lease? Well, rewarding your best renters will help you to keep them longer. So, how can you reward them ?
If your tenants are paying their rent on the due date since six months without any failure then, you can offer them two percent of the total rent paid by the tenants. Suppose they have paid $1000 then, you should give them cash back offer of $120 at least or you can offer to shave that amount off of the next month’s rent.
This kind of incentive can help you in saving money and keep your tenants in your property for longer period of time and this offer will also help in attracting other great renters to your Baltimore rental property.
Offer a Workspace for the Renters Who Work From Home
Not everyone go out for working some also work from home. If your tenant is one them who work from home then, you can give them workspace from where they can manage their work. Just imagine how good or beneficial it would be to turn your lobby that isn’t much utilized or an outdated rec room that is not used to a workplace for the renters who work from home.
Get the workspace furnished with few tables and chairs for your remote working residents. This will definitely attract many renters who work from home. They would in fact, like to pay a good rental charge also.
Offer Free Wi-Fi
Internet service is essential in order to survive in today’s date. No matter whether you are hiring job employees or students as your renters, Internet is now essential part of our lives. No one can even imagine to live their life without the Internet.
Of course, you are providing water and shelter so why not to provide Internet facility to your tenants. You know this is one of the best thing to attract quality tenants. Your competitors might be giving this facility to their tenants which can be a big reason why tenants not moving into your property. So, offer free Wi-Fi facility to your tenants and give them a best reason to stick around.
So, how to find the best tenants for your rental property? Here are the tips that will help you to find the right and quality tenants for your rental property in Baltimore.
How to Find Right Tenants for Rental Property?
Advertise Your Property
Advertising or marketing your property will help you to find quality tenants. The advertisement will let the potential tenants know about your property so that they can apply for vacant unit. You can use both offline and online methods to advertise your property.
Make Rental Application
Rental application is need to be filled by the applicants who want to live in the property. They will fill the application with their personal data. And this will help you to know the tenants and you can hire the right and quality tenant for your rental property.
Do background check of the tenants to know more about them. Check the part credit history. You can also ask their previous landlord to know about their behavior as a tenant and the reason of eviction, etc. The screening process of tenants is the most important thing in order to search and hire the right quality tenants for your property.
If you will follow these points then, you will be able to hire the right tenants for your rental property in Baltimore. And if you want to keep them for longer time then, follow the above-mentioned points that will help you to attract high-quality tenants and keep them for longer.