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How Do I Attract and Keep Long Term Renters?
Takeaways
- Successful rental homes attract and keep desirable long-term renters.
- Maintaining the exterior and landscaping maximizing the home's curb appeal.
- Rewarding renter loyalty helps keep your property occupied.
Did you know?
- If you provide renters with basic lawn equipment and tools, it can encourage them to help keep the property in repair
The success of rental property depends on the owner’s ability to attract and keep desirable long-term renters. Here are some basic tips:
- Maximize "curb appeal" You have to "sell" the home to renters just as you would to buyers. Maintain the property exterior and landscaping.
- Keep a neutral color scheme. Carpet, tile, vinyl floors, and walls in neutral colors make it easy for prospective renters to imagine their furnishings in the home, apartment, or condo.
- Do more than keep the property in good repair and clean. Add extra amenities and conveniences such as a garbage disposal, self-cleaning oven, and refrigerator with an ice-maker.
- Provide basic lawn equipment and a tool kit to encourage upkeep of the property by the renter.
- Reward renter loyalty. Offer incentives to long-term renters such as paid cable TV, discounting rent when repairs are made by the renter, and offering referral fees for sending prospects to your other rental properties.
Learn More About Investing in Rental Properties
To learn more, explore the advice on Rental Properties in this section of our site. You can also learn more about Rental Properties in our expanded section on Second Homes. To find properties in your area, please contact a local GMAC Real Estate office, and talk with a Real Estate agent about opportunities for investment.
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