By August 16, 2018—
This might be news to you, but renting your home isn’t as easy as you might think. Finding a good tenant is hard. Finding high quality renters represents a landlord’s success. You want someone who will respect the property, respect you as a landlord, enter into a long-term lease, who pays their rent on time and is willing to pay the agreed upon amount.
The hard part is attracting this kind of tenant and securing them into a contract. You might not think so, but tenant seeking is a relatively competitive market. Let us tell you that there’s a lot to consider in order to secure this most ideal type of tenant. The best way to find someone is to know what the renters want.
If you’re home is already in a prime location with easy access to employment opportunities, transit, grocery stores and community parks, then you’re already half way there. Kitsilano is already a prime location when it comes to real estate, but with the soon to be built Broadway extension, commute will become ever more convenient.
Here’s the honest truth, if you expect to receive as much as your neighbour when your unit is not in good condition, good luck. Even if the place just needs a few little tune ups, it could result in the loss of some excellent tenant prospects. Get the job done before potentials come to scout out the place. Eliminate nasty odours and make any necessary repairs before tenants even come to the door.
The last thing a renter is looking for is paying additional expenses on appliances. It’s something that a homeowner expects, but a tenant isn’t looking for the hassle. Going to a laundromat can be expensive and no renter will want to buy their own appliance. What are they going to do with it when they move? Lug it around to their next rental? Also, your prospects go even higher up when the appliances are new and working condition.
It’s cute when houses have personality, but in this case, we’re not talking about homes. We’re talking about you. Tenants appreciate an understanding and cooperative landlord. Renters will generally show as much respect as they are given. If you give them expectations and promises, such as updating the hardwood floor, you better keep that promise and within a decent time-frame. In other words, don’t wait for the tenant to already move out before you start working on the changes.
You can’t really blame renters for being a little leery when it comes to renting a place, especially when it’s offered at a great rate. Make sure you are up-to-date with current strata rules and bylaws. Also, in case you didn’t hear, there are some new rules if you’re renting out your home with Airbnb. Make sure to check them out.
Basically, just demonstrate to your tenant that you care about the property as well as their comfort.