Would you be surprised to learn that, as a Denver landlord, you could earn an average annual income of over $54,000 with minimal effort?
The trick is listing your home for rent in a way that makes it stand out from the crowd and attracts plenty of high-paying tenants. Although this can be challenging, you can use five core strategies to turn your rental home into a sought-after property.
Read on for the most effective listing rental property ideas.
1. Choose Your Rental Price Point
One of the best rental pricing tips is to get the balance right between maximizing your income and appealing to your ideal tenants. While it can be tempting to set high prices, this can deter potential renters and increase vacancy rates. However, you also don't want to price too low and reduce your profits.
To determine the perfect price point, it's often best to hire the services of a local Denver property management expert. With years of experience, they'll know how much you can charge without pricing yourself out of the market.
2. Carry Out Cleaning and Maintenance Tasks
It's not something everyone looks forward to, but to prepare your home for rent, you need to make sure it's in pristine condition. Take the time to vacuum, mop, and wipe surfaces to make them clean and hygienic. You should also look for maintenance and repair issues such as leaky taps, squeaky doors, or loose roof tiles.
By improving your property's appearance, you can impress tenants when they come to view your rental.
3. Create Stand-Out Listings
Stand-out listings require professional-quality photos, detailed information, and a compelling call to action. You could even include a video tour of your property, highlighting each feature so viewers can imagine themselves living in your home.
Think about what you would want to know if you were renting a property, and include these details to create a superior listing.
4. Respond Quickly to Inquiries
Being responsive to inquiries is one of the most important renting-out home tips. Tenants may send inquiries to several rental homeowners simultaneously and you'll want to ensure they view your property before they see other options.
After listing your rental property, ensure your phone is always turned on and set up email alerts for new inquiries.
5. Get Your Paperwork in Order
When tenants apply to live in your property, you need to be ready. Prepare your tenant screening forms in advance and read over your lease agreement to make sure you're protected as a landlord.
This will mean you can sign the contract as soon as all the relevant screening checks are completed.
Make Listing Your Home for Rent Easy with PMI Denver Metro
At PMI Denver Metro, we know that listing your home for rent and attracting tenants can be difficult. That's where we come in.
As a locally owned and independently operated company, we pride ourselves in bringing a personal touch and the highest customer service standards. With a tireless work ethic to increase your property's occupancy rates, we also look forward to providing you with a wide range of full-service property management services.
Contact us today to find out how we can help increase your rental property income.
