How to Attract High End Tenants to Your Property

Renting your property can be a joy or a nightmare. And this mostly depends on your tenants. To make sure everything goes smoothly, it helps if you secure high end tenants.

Here are some tips from Paramount Properties on how to attract them:

Marketing

To attract any kind of tenant, you need to market your property. And especially so for high end tenants. Make sure your marketing appeals specifically to the type of people you want to attract, and advertise in places they are likely to see it.

Also, take care to be detailed in your marketing efforts as to what you are looking for in a tenant. This will help to weed out the lower end tenants you don’t want to attract.

Screen Tenants

Before you take on a tenant, make sure you do your homework and screen them correctly. Speak to their previous landlords to see if they ever caused any problems, and check their employment status and financial situation. Try to take emotion out of the decision as much as possible and don’t select tenants based on whether you like them or not.

Check the Competition

If a potential high end tenant is interested in your property, chances are they’ll also be looking at similar properties in the area. So make sure you research what you’re up against and what the competition are offering. And once you know this, figure out how you can make your property seem more attractive in comparison.

Be Clear About Your Expectations

Always be up front and let potential tenants know exactly what the rules are and what you expect from them. To your ideal high end tenant, this should represent no problem whatsoever, and should help to scare off anyone who does not meet your standards.

Picture Your Ideal Tenants and Target Them

Try to imagine what your dream tenant would be like, and put yourself in their shoes. What issues are important to them? What do they look for in a property?

Once you have identified what your perfect tenant wants, try to cater for them specifically and put extra emphasis on the things that matter to them most.

Your Appearance

High end tenants will also have higher expectations of their landlord. Above all, they want someone who is reliable and professional. That’s why your appearance is extremely important. You need to convey an image of absolute professionalism, and if you don’t look the part, you may find that high end tenants are unwilling to trust you.

Never Show an Unfinished Property

Wait until any renovations are finished before showing potential tenants around. High end tenants place great value on quality and want to be sure a property is exactly what they want. When work is still being done, it is difficult for them to picture this.

High end tenants can make a world of difference to your experience as a landlord. If you don’t find the right people, you’ll have no end of problems. Newington Green estate and letting agent M&M Property advises you to follow the above advice to secure tenants that are ideal for you.

Alex Evans

You May Also Enjoy

Letting Agent Talk

Letting Agency Owners: Are You the Bottleneck in Your Business?

As a letting agency owner, it’s easy to fall into the trap of wearing too many hats. But it’s not just exhaustion and burnout you need to worry about – it’s the impact it’s having on your bottom-line. Guest Blog By Sally Lawson – Agent Rainmaker “From managing client relationships and handling operations, to overseeing…
Read More
Breaking News

Latest developments in Renters’ Rights Bill: What landlords need to know

On the brink of becoming law, the Government last week rejected the majority of amendments put forward by the House of Lords, which would have mitigated the severity of some of the amendments. Property professionals, landlords and tenants are poised to navigate this once-in-a-generation overhaul of housing legislation.   Lucy Jones, Chief Operating Officer at…
Read More
Breaking News

What Will Commonhold Mean for Property Managers?

By Robert Poole, Director – Block Management, Glide Property Management, part of LRG The government’s ambition to end leasehold for most residential properties has put commonhold back into the spotlight. First introduced in 2002, commonhold offered a resident-led alternative to traditional leasehold ownership. However, legal and commercial complexity stalled adoption. Two decades later, policymakers are…
Read More
Breaking News

Think You Know Mortgages? These 5 Myths Could Be Costing You Money

When it comes to mortgages, most of us have had advice from family and friends. The trouble is, a lot of these so-called facts are myths, with many individuals missing out on better deals or opportunities, due to not doing their own due diligence. Emma Graham, Business Development Director at Hodge Bank, explained: “Mortgages are…
Read More
Breaking News

Just 17% of homes selling for more than £500k

The latest analysis by eXp UK has revealed that while just 17.4% of homes sold across England and Wales so far this year achieved a price of £500,000 or more, agents in London, the South East, and the East of England will face the greatest need to adapt should the Government press ahead with plans…
Read More
Breaking News

Estate agents back Rachel Reeves’ stamp duty shake-up but call for abolition without replacement tax

The latest research from GetAgent has revealed that the majority of estate agents in England are supportive of Chancellor Rachel Reeves’ plans to overhaul property taxation by scrapping Stamp Duty Land Tax (SDLT). However, 44% argue that the new levy should be focused only on higher-value homes, while 79% favour abolishing SDLT outright without introducing…
Read More