With the nation and Houston starting to reopen and federal aid for renters from the government.
Competitive Rental Rates
One of the most impactful ways landlords in Stafford can appeal to tenants during COVID-19 is to set an appropriate rent amount.
Understanding the rental market and offering a competitive rental rate is paramount to attracting new tenants.
The government has implemented programs for Houstonian’s struggling with the pandemic and they are taking full advantage of the opportunity to get help.
That means there are many Houstonians looking for somewhere to call home. As a landlord you have the opportunity to get some great tenants right now.
Do your research to see what the current market rent is and set it as close as you can to that amount while making sure it fits your rental proforma goals.
If you need to attract more potential tenants, you can lower your rent a few percents to be just below the market rent.
This should bring you a better variety of tenant candidates so you can be sure you are comfortable with the tenant you end up choosing.
Tenants will also appreciate the affordable rent during these uncertain times. All working-age members might not be employed right now, and some may have been employees of companies that COVID-19 has put out of business, so a lower than market rent may be a blessing to some.
Don’t turn away potential tenants who are struggling to get back on their feet. Try to be a hero and a servant in the community you serve.
Create Unique Options
Another way landlords can appeal to tenants in Stafford during COVID-19 is to assure flexibility. Hopefully, you are in a position to show compassion by being flexible with rent payments.
Make arrangements with the tenants to accept multiple partial payments overtime to make sure they can pay their rent, but they may not be able to pay it all at once.
Another way to be flexible with tenant rent is to arrange with tenants to lower the current and next few months of rent and raise the second half of rent payments to make up the difference.
This should give the tenants enough time to fully stabilize their household and begin to make regular rent payments.
Landlords should focus on being creative and less on traditional ways of working with tenants.
Offer More Than The Norm
If you happen to get a great potential tenant and you want them to rent from you and not your competitor, offer extras! Make sure the rental unit has a washer and dryer, and all other major appliances in the house, such as a stove, fridge, and microwave.
Tip: Make sure all appliances are in working order.
Also, make sure the unit has clean and working blinds, door handles, and locks. You may sweeten the deal even more by offering a free unlimited utility, such as internet or cable services.
Perhaps, provide the basic high demand essentials, such as a pack of paper towels, toilet paper, or hand sanitizer with every payment towards rent.
The idea is to think of unique ways you can use to create more value for the potential tenant. If you and your competitor’s prices are the same. It will come down to who offers more value.
If it fits in the budget, you may want to update the kitchen, especially if there is visible wear and tear on the cabinet doors or countertops.
Make sure all toilets, sinks, and showers are clean and in working condition with no rust or mildew build up.
You should consider a new coat of paint and patch any holes missed. Houston tenants are great and will appreciate your efforts to keep the property up to date and clean and will work to make sure the rent gets paid.
If a tenant lives somewhere they are proud of they will work hard to keep it.
One of the simplest ways landlords in Stafford can appeal to tenants during COVID-19 is to improve the curb appeal of the property.
If the house appears well maintained with some inviting landscaping, a tenant will be more apt to select your house over a house that appears like it needs to be pressure washed or the mulch needs to be replaced.
Your rental property appearance speaks volumes to your management style. Clean, updated properties are more quickly rented and have less turnover than properties that are dark and dingy.
It’s not very expensive to update the curb appeal of your rental property. That’s the first thing potential tenants see and you want to make a good first impression.
Houston has seen a steady increase in the number of Houstonians looking for rental units. If you are a landlord that wants to attract and keep the best tenants.
This article details 5 simple ways you can appeal to tenants during COVID-19. Landlords can update the curb appeal, make improvements, offer more options, have unique options and offer competitive rates.