Tenants are beginning to receive stimulus payments and some are using it to move. You may be receiving multiple applications for your available rental property, but once you locate a great tenant, you may be competing with other landlords to have this tenant. Here are some ways you can appeal to tenants in Fort Myers during COVID-19.
Appropriate Rent
During the challenging times brought about by COVID-19, landlords in Fort Myers can employ various strategies to appeal to potential tenants, with setting an appropriate rent being paramount. Conducting thorough research to ascertain the current market rent is essential, allowing landlords to align their rental rates closely with prevailing trends while ensuring they meet their financial objectives. Adjusting rent slightly below market rates can serve as a compelling incentive to attract a wider pool of potential tenants, thereby increasing the likelihood of finding suitable occupants for rental properties. Particularly in the current climate where economic stability is uncertain, offering affordable rent can be a significant relief for tenants facing financial strain due to employment disruptions or business closures stemming from the pandemic.
Furthermore, maintaining competitive rental rates not only enhances the appeal of properties but also demonstrates empathy and support for tenants navigating through challenging circumstances. Recognizing that not all members of prospective tenant households may be employed, and some may have been adversely affected by the economic repercussions of COVID-19, underscores the importance of landlords adopting a flexible and compassionate approach to rental pricing. By offering rents below market rates, landlords can provide tangible assistance to individuals and families seeking stable housing amidst economic uncertainty, fostering goodwill and loyalty among tenants while simultaneously ensuring the continued occupancy and viability of their rental properties.
Be Flexible
Another way landlords can appeal to tenants in Fort Myers 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 over time 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.
Offer Extras
If you have a really great tenant apply and you want them to pick you over another landlord, offer extras! Make sure the rental unit has a clothes washer and dryer, and all other major appliances in the house, such as the stove, fridge, and microwave. 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.
Make Improvements
Updating the kitchen can significantly enhance the appeal of your rental property, particularly if there are signs of wear and tear on the cabinet doors or countertops. A modern, well-maintained kitchen not only attracts potential tenants but also contributes to the overall value of the property. Ensuring that all fixtures, including toilets, sinks, and showers, are clean and functional without any rust or mildew buildup is essential. Tenants appreciate a hygienic living environment, and addressing these issues promptly can help maintain tenant satisfaction and retention. Additionally, a fresh coat of paint and thorough patching of any holes can give the property a revitalized look, further appealing to prospective renters. By investing in these updates and maintenance tasks, landlords demonstrate their commitment to providing a comfortable and inviting space, which often translates into reliable rent payments from responsible tenants.
Furthermore, proactive maintenance and aesthetic improvements can foster a positive landlord-tenant relationship. When tenants see that the property is well-cared for and updated, they are more likely to take pride in their living space and treat it with respect. This can lead to longer lease terms and fewer turnovers, reducing vacancy costs and maximizing rental income. Moreover, by maintaining a clean and modern property, landlords uphold their reputation in the rental market, attracting quality tenants who are willing to pay a premium for a well-maintained home. Ultimately, the effort and investment put into updating and maintaining the property not only enhance its marketability but also contribute to a mutually beneficial relationship between landlord and tenant.
Curb Appeal
One of the easiest ways landlords in Fort Myers 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 mulching looks old. 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.