Real estate can be a lucrative investment that provides income well into retirement.
Real estate investors who intend to rent their properties will have to periodically show them to prospective tenants. The process of showing a rental property begins before such tenants arrive to look at the home. Landlords who want to get the best possible return on their real estate investments can consider these tips before showing their properties.
- Work with your existing tenants. If tenants are currently in the property, work with them to ensure the home or apartment is ready to show. Provide advance notice when you will be showing the property so your current tenants have plenty of time to clean up and make arrangements to be elsewhere when prospective renters show up. Existing tenants likely won’t want the place to be a mess during a showing, but you need to give them time to clean up.
- Address any issues before showing the property. Does a screen door need fixing? Does the shower need to be grouted? Address such issues before showing the property. Failure to do so will give prospective renters the impression that you don’t respond to problems promptly, and that may give many second thoughts about becoming your tenant.
- Make yourself available. Landlords don’t have to be present at a showing, and some prospective tenants might prefer to see a property with only their Realtors present. But landlords should make themselves readily available, answering questions promptly via email, text message or over the phone if they don’t plan to attend showings. This gives potential renters a strong first impression of you as an attentive landlord.
- Provide details about the property. If you’re utilizing a real estate agent to show the property, then he or she will no doubt create a listing that highlights various things about the home or apartment. This includes the number of rooms, utilities, parking, and other details renters will want to know. If you are showing the property yourself, create such a packet for renters. This makes it easy for them to make a decision, and they’ll likely be impressed by your attention to detail.
Rental properties can be lucrative investments. Landlords willing to go the extra mile when showing such properties should be able to attract scores of potential tenants.