The best way to get more rental applications for your apartment in a big city like Delhi is to have a well-maintained property in the main location at a very reasonable rental.
As an existing property owner, you cannot do anything with the location but there are many other things you can change to make the property more desirable to the best tenants. You can give obvious information to emphasize the property’s best features, present a clean and good condition home and represent yourself as the best property owner by demonstrating your communication.
Without any delay, you need to follow the given below points to attract the best tenants.
Find Tenants Online
These days almost everyone looks at property online before personally visit the site. The online presence of your rental property can increase the probability of site visiting manifolds. Work with the best rental property portal to create a b listing. Prioritize clear & detailed photos, and write an understandable description that explains the attractive features of your property.
Many people still use old marketing techniques like classified ads and pamphlets distribution, but this strategy is less effective.
Decorate the Interiors
You can decorate & enhance the interiors to extend your appeal to a more advantageous, higher-income market. These add-ons might comprise extra space for storage or smart lighting, wardrobes, stainless steel appliances, AC, geysers, and dishwashers, etc.
These add-ons will boost the value of the rental property and facilitate you increase your rental yield in the future.
Right Rent Price
Every proprietor wants to earn high rent from their residential property, but tenants always prefer reasonable rent. And this reasonability of rent depends on the location and demand/supply of the units.
If you demand more than reasonable rent then the tenant will try to find somewhere else.
How to decide on a reasonable rent?
Look at what others are charging in your neighborhood and decide a base price, then evaluate how special & best your property is from others. If you have some additional features then you can raise your rent from the base price. But again we suggest you demand a reasonable rent because high rent won’t attract tenants.
Yes, rising rents can indeed be the key to increasing rental yields. But don’t demand rent out of the market.
Maintenance Matters
This is the best way to attract the best tenants. Regular maintenance of the property makes sure that there is nothing to do when it comes to fixing, cleaning, and showcasing the property in front of prospective tenants.
As well as, preventative maintenance of the property saves not only your money but precious time and increases durability. On the other hand, when things do break, fix them quickly as nothing ruins the tenant relationship faster than a slow reaction.
Written Rental Agreement
Rental Agreement ties up property-owner and a renter in a mutual agreement where the interests of both parties are protected. So, when you are creating a rental agreement, it should include features like the tenure, rental amount, security of deposit, etc. An ideal rent agreement encompasses provisions like who is responsible for the water, electricity, and maintenance bills. Also, you can add an auto-renewal facility, effective dates, and the extension of the termination sections to avoid any confusion or argument at some point.
