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Property Management – Northridge – Top Things That Attract Quality Tenants

NORTHRIDGE PROPERTY MANAGEMENT

Top Things That Attract Quality Tenants

When you own a string of properties, you need to make sure that you attract tenants from all across the state. Out of the 20 tenants that view your property, you may only interest 5. If you can work on increasing this number, then you can surely decrease your vacancy rates for the long term. There are several things that attract quality tenants, and most of them are relatively easy to achieve.

Monthly Rates

The main reason why a tenant is unlikely to rent your property is down to your rate. Most of the time, a tenant will settle in a property which is just average, if it meets their budget. If you are overcharging your properties, then this will surely deter potential tenants. Make your properties affordable, and you will have them queuing at the door. You don’t just need to price your property averagely; you need to compare it to other properties within the area. You may think that your property is fairly priced, but when your neighboring property is exactly the same, but for a lower price you know you have a problem. Lower your rates according to the local market and you will surely attract tenants.

Reputation

Your reputation holds the key to your success. A pristine reputation can go a long way. Often, tenants are weary about renting from a property owner which they do not know. In this case, they may go on to research you as a landlord. In the event of this, you need to make sure that they hear the best of reviews. If you can circulate your name around the locals as being a great property owner, then tenants will find you a fitting choice.

Retention

Nobody wants to rent off someone who has lots of properties with endless vacancies. It gives them the impression that tenants are not happy to stay in your property, so they leave. This is the last impression that you want to give to your new potential tenants. It is better to have ten filled properties, as opposed to 60 unfilled. Numbers aren’t always everything, and your success as a landlord will greatly determine how much tenants trust you in respecting their needs.

By Siobhan K Snaith

Since 1946 the Carnahan name has had a reputation for honest and ethical Real Estate Property Management services in the San Fernando Valley, Santa Clarita Valley, Burbank/Glendale, Los Angeles, Westside and Conejo Valley areas.

The reason for our success is helping owners like you when they need it. Below is a partial list of property management services we provide to help you protect your real estate investment.