Perhaps one of the most known reason a leasing business may thrive is because of tenants. It is not just primarily about having some tenants, but it is mainly about finding good tenants in this kind of business.
A good tenant does not only mean a good payer, for there are other qualifications that you might want to add. In the following article of Maelia Davis, she highlighted some qualities of a good tenant apart from being able to pay on time:
Top Seven Qualities of a Good Tenant
A good tenant is drama-free. Some tenants thrive on drama. These are the tenants that call with excuse after excuse about why the rent is late: they lost their job, their wife left, their dog died. Their life is one problem after another, and you're invited to the party.
It's not as difficult to spot these tenants as you would think. They will tell you about their hard knock life (in fact, good luck getting them to shut up about it). Fortunately, these tenants often have histories of late payments and evictions, so you shouldn't have any trouble finding a reason to not rent to them. See more...
Having the idea of what a good tenant is is not enough. You should likewise learn how to catch their attention. It is not just enough that you have already distinguished them among the others. It would also be beneficial for your rental business to get many good tenants under your landlordship. Alice Bradley wonderfully shared her insight regarding such matter:
How to: Attract good tenants
Market your property properly.
Dodgy photography and patchy listing information won't capture your target audience. You could lose potentially great tenants. Think about the kind of tenant you would like to attract and list the elements that appeal to that part of the market. See full article...
And to market your property properly, it would somehow suggest adding some features which will make your property more appealing. Try to compare your property with the others present in the market, and think of a way to make it a standout. Don't wait for prospect tenants to suggest necessary and practical changes, think ahead of the changes you may do instead.
