Over 72,000 people currently live in Lafayette, Indiana, and the population is continuing to grow. If you're a landlord, this means you have an opportunity to rent your home and generate a sizeable income.
The trick is to use the right techniques when listing your home for rent. This guarantees your property can stand out from other houses in the area and attract renters' attention.
Read on to learn about five of the best home listing strategies.
1. Maximize Income: Know the Market
While you don't want to undervalue your rental property, it's also important not to overvalue it. While the former can mean you may lose out on income, the latter can lead to your home being unoccupied when it should be making you money.
This is why you need to study the market and understand what price tenants will be happy to pay.
2. Stand Out: Use Attractive Photos
Many tenants scroll quickly through listings, and your photos need to catch their eye. Make sure your images have plenty of lighting and show the most positive aspects of your home.
If your photos look just like many of the other images you see online, it may be worth investing in a professional photographer.
3. Engage Tenants With a Detailed Real Estate Listing
Your online listing should have plenty of detail as you never know which aspects of your home will appeal to potential tenants. For example, one renter may look for a house with spare bedrooms, while another would prefer somewhere close to transport links.
By highlighting every positive aspect that applies to your home, you increase the chances of finding a new tenant.
Your listing should also specify if your home is available as a vacation rental or for long-term stays.
4. Impress With Property Viewings
You never know when a tenant might request a viewing, and your rental home needs to be ready. Think about aspects such as the beds being made and the living room being clean and tidy. This can help a tenant imagine themselves living in your property, increasing the chances of them signing a contract.
If you have time, it may also be beneficial to add a nice touch such as fresh flowers that make your home look more attractive.
5. Quick Responses Win Tenants
When you receive an inquiry, it's crucial to respond as quickly as possible. A potential tenant may have sent emails to other people who are also advertising homes, and you'll want to reply first.
This isn't easy when you're busy, and you can hire a local property management company to respond on your behalf.
PMI Lafayette Can Help With Listing Your Home for Rent
At PMI Lafayette, we know listing your home for rent and managing your property can be stressful.
We use our extensive local knowledge to help you understand the market and maximize your rental home profits. Supported by a larger franchise, we have the resources and the skills to find the best tenants for your property. This can provide you with a regular source of passive income.
Get started with PMI Lafayette today to maximize your rental profits today.
