In major Californian cities like San Diego, a single person needs to make at least $76,000 a year to live comfortably. Because the area's cost of living is so high, it can be difficult to attract new tenants, considering that many are making an exodus out of the state.
This can make your life as a landlord difficult. However, it doesn't necessarily mean that your passive income will dry up. With excellent property marketing and other improvements, you can fill up your rental quickly.
Read on for some tips to attract tenants in a tough market in San Diego County.
Keep Up With Property Maintenance
First impressions are everything; if a potential renter sees a rundown apartment complex, they probably won't even apply to stay there.
Keeping your property in excellent condition is a win-win situation for everyone involved, including you, applicants, and current tenants. Not only will regular maintenance make your rental more appealing, but it'll also encourage tenants to stay. Plus, the upkeep will equal fewer costly repairs for you.
If you find rental property maintenance too difficult to keep up with on your own, then professionals like us can help. Our comprehensive services will make your job a hands-off one.
68% of American households own pets, which means the majority of renters have furry friends of their own. If you don't allow them to bring these family members along with them, then they'll definitely look elsewhere for accommodations.
If you're afraid that these creatures will damage your property, you can mitigate this issue. Screen potential tenants and add a pet security deposit and rental fee to cover any repairs needed.
Be Proactive With Property Marketing
You've done the work to spruce up your rental property curb appeal, so make sure to show it off. As soon as you know a renter's leaving, list their unit online on multiple platforms.
Write compelling property descriptions that highlight your rental property features. Things to include are the location, amenities, and nearby attractions.
In addition, use high-quality photos, preferably those taken by a professional. Include virtual tours so those who are not in the local area can find out what your units are like.
Offer Competitive Prices
One of the most important things to do is to ensure your rental price is competitive. Set your prices slightly below comparable listings to attract tenants with limited budgets.
You can also offer flexible lease terms. When there are more options available, people will feel less restricted and more open to signing a lease with you. For example, you can have month-to-month and other short-term leases alongside yearly leases.
Get More Tenants With Our Tips
With our advice on property marketing and improvements, you'll be able to attract renters and keep your rental filled, no matter what time of year it is.
Remember to keep up with maintenance, allow pets on your property, market yourself smartly, and offer competitive prices. By doing these simple things, you'll see a quick rise in applicants.
For assistance from an experienced property management company, contact us today. We at McLain Properties will help you get quality tenants into your property.