As a real estate investor, it is important to know how to attract renters in Chicago. An empty house will cost you time and money. Learn more about how to attract the best tenants in our latest post.
Once you find the perfect tenant, you’ll see smooth sailing as a Chicago real estate investor. Finding these tenants may take a little work. Advertising in the right places and marketing your property in the right ways will help to generate buzz. The tips below will help you to attract more potential renters to your investment property in Chicago.
A picture says a thousand words and this is especially true for real estate listings. When you advertise a property without giving thought to the photos, your listing will likely be ignored. When you want to rent out a property in Chicago, consider paying for a professional photographer to come in and take some photos. You’ll be able to use these photos for as long as you own the home unless a major structural change takes place, so the cost of hiring a pro is well worth it. When the photographer is there, be sure the house is spotless and properly staged. You want to avoid having clutter or personal items visible in the pictures. Remember, it is not your photographer’s job to clean up! While they might stage a shot, don’t expect them to make your bed before photographing your room.
You could also have someone take drone photographs of the house, giving people the bird’s eye view of your property from above. There are also Youtube videos you could make as well as virtual tours. Going the extra mile with these things will get you noticed much more quickly than the boring, standard property listings. Our goal is to provide you with information so you can get high-quality tenants in the house fast.
If a property looks great outside, prospective tenants are more likely to want to see what’s on the inside. Make the outside of the property as warm and welcoming as possible. Whether you add some flowers, a new mailbox, or a fresh coat of paint, these small improvements can have a huge impact on how the property is perceived by your potential home buyers. These sorts of repairs are pretty cost-friendly and can be done without the help of a professional. Adding curb appeal is a great way to attract more renters to your available house in Chicago!
One thing all renters will love is a convenient way to pay their rent, request maintenance, apply to live in one of your properties and learn more about current events for the property and for the area. By offering the latest and greatest online tools, you will make things easy for people. One thing that should always be easy for your tenants is making sure you receive your rent each month. Accept payment from your tenants in as many ways possible. Zelle, PayPal, and Venmo are all great options to consider, just make sure you aren’t getting hit with any fees. This will make paying rent less of a chore for your tenants while increasing the likelihood of you getting paid on-time month after month.
When looking for high-quality renters for your Chicago property, you are selling the location just as much as you are the property itself. You’ll want to be able to sell people on the lifestyle and the amenities in the area. Let people know about gyms, cultural activities, parks, grocery stores, restaurants, dry cleaners, and anything else people may need on a regular basis. You might even consider putting together a brief information sheet, highlighting businesses and attractions found in the area. It’s these sorts of small touches that can pay off in big ways when you are trying to attract renters to your Chicago investment property.
Add A Few Perks
Is there something you can add to your property to make it stand out from others currently available for rent in your area? Maybe you could add something fun and frivolous such as a wine fridge or a horseshoe pit outside. If you have an appliance that needs replacing, consider getting something with a few bells and whistles. If you are renting to high-quality people, (which you should be), you shouldn’t have to worry about the appliance being destroyed right away. Some tenants will love having something more modern, just don’t go out and spend a ton of money on new appliances if they don’t need to be replaced. A few other things you could consider adding would be revamped closet storage, kid-friendly yard, or even wifi depending on the tenant you are trying to attract. People love getting perks, even if it happens to be a small one!