The ability of properties to generate passive income makes it among the best investments an individual could make in their lifetime. But a vacant rental unit is not going to do anyone any good. So here are a few tips on how to get your property rented out quickly:
Price is key
Higher rent means higher earnings. But you make more losses if it causes your rental unit to sit vacant for a longer period. You could always turn your apartment unit into a vertical farm, but that is a story for another time.
Therefore landlords who want to rent out quickly will adjust their rent according to the average rate in the area. Those looking to raise the rent above it should be prepared to provide better furnishing or facilities like a heated shower, or a large LCD television in the living room. Want higher rents? Then make it worth their buck.
Give your home a new coat
If words cannot convince your potential tenants, then the smell of fresh paint will. A property with a new coat of paint gives off a cleaner, more spacious feel. That is one sure way to stand out from the many properties out there vying for the attention of your tenant.
If you want to stay safe, then stick to neutral colours which are acceptable to a wider crowd. Bonus points: should you choose to advertise your property on an online platform, the paint job will give your photos a sharper, crispier look.
Who do you want?
The type of tenant you are looking to attract determines the furnishing in your home. If you want your rental unit to appeal to students, then the living room should have more tables to facilitate study groups. Double decker beds will certainly benefit foreign workers since they usually rent in large numbers.
There are many more ways for a landlord to turn their properties into cash cows. If you are looking to “milk” your property of its worth, then dial 012-388 6775 to reserve a slot at the HCK Real Estate Academy
