Every landlord loves the idea of higher-paying tenants, but to attract these potential occupants you might need to do some changes to your rental. If you’re struggling for different ways to accomplish this, don’t worry, we’ve got some tips.
As you get started on planning the best ways to initiate this goal, you need to know how to appeal for tenants with a higher budget. The reason is simple, higher-paying tenants aim for higher quality properties. These steps demand investment and time. Nonetheless, it’s worth it. One of the best groups to market to are millennials. Renting to this group can be very lucrative because they don’t value expensive things as their parents did, such as different types of chandeliers or custom wooden floors. What they do appreciate and take in regard is functionality and flexibility.
1 – A tech-friendly environment
One of the things you should focus on is a tech-friendly environment. Remember that millennials are always connected, so you can use this in your favour. You can implement a closed system of cameras which stream a videofeed directly to their smartphones, allowing the tenant to keep an eye on the property or even control the lighting or blinds with the push of a button.
2 – Get to know your neighbourhood
Knowing everything about your neighbourhood and overall community is not only relevant but very important, making this so influential as the quality of the property itself. High-paying tenants want to know where they’ll be staying. One way to do this is to market the various local interest points, such as: nightlife areas, cultural attractions, restaurants, coffee shops, sports arenas and highways. Advertising different hotspots can be a make or break deal, so research is key. This is how we write our descriptions at Uniplaces!
3 – Offer flexible lease options
As pointed earlier, flexibility is a great perk. Providing a flexible lease means you’ll attract a higher-paying tenant, grabbing anyone’s attention and, above all, giving the tenant a boost in confidence which will tip the decision in your favour.
4 – Be part of a cause
A great way to capture their attention is by supporting a cause. Higher-paying tenants are known to prefer a business that is involved in making a difference. You could offer any type of discounts regarding the services you provide and in exchange, you can ask your tenants for a couple of hours per week to help out at a specific cause, such as an animal shelter. There are lots of great opportunities out there to make a difference and impress.
5 – Keep your property spotless
This is a very important detail. High-paying tenants don’t want to live in a fairly clean place, what they require is an immaculate property. A weekly cleaning service included in the bills will assure each part of your home is gleaming, thus leaving a positive reaction.
Following these simple steps can make a world of a difference and allow your offers to book like never before. Take in consideration that not many landlords are coming up with such strategies, so you can easily get ahead and make your property a well-known name which will ultimately draw higher-paying tenants and maximise your profits.