The ideal tenant is within your reach. Rental property repair and improvements are a worthwhile investment to increase occupancy in your building.
The rental market is growing, particularly in urban areas. More people are opting for the convenience of renting and living in town—which is great news for property owners, particularly in cities. While you can’t change your building’s location, simple property repair, improvements and upgrades will easily increase your appeal to the ideal tenant. Not only will upgrades boost your occupancy, you’ll retain great tenants who are willing to pay a little more for their ideal property.
Every landlord faces the same challenge: finding and keeping good tenants. It can be a lot harder than you might think.
At the same time, it doesn’t have to be difficult if you understand what a good tenant is and what they look for in a rental property. There are a number of factors to consider when trying to attract responsible tenants. Some are obvious, but others are much less so. Figure out what these factors are and you’re on your way to saving (and making) money.