Kansas City tenants are more educated on the market than they’ve ever been before. They’re also pretty sure about what they want and what they won’t be willing to settle for when it comes to renting a single-family home.
Make sure you’re marketing an outstanding house. Offer great photos and a responsive showing and application process. Then, you can make your property more appealing to the best tenants out there by paying attention to these five things.
1. Communication and Clear Expectations
Most people moving into your Kansas City rental property want to be good tenants. They’ve chosen your home over a lot of others, so that’s a good start. Retain these tenants and offer a great rental experience by being a good communicator. You have to share all your expectations before they move in. Go over the lease in detail. Allow them to ask questions and make sure you clarify and reinforce the most important parts of the lease agreement, including rental payment policies, maintenance reporting procedures, and what they’ll have to do when the lease period comes to an end.
Set your tenants up for success with clear expectations and open, accessible communication.
2. Market-Based Pricing
If you’re like most people, you don’t like overpaying for anything. Tenants are the same way. Rental price is always going to be a factor when you’re attracting good residents. If you want to attract a large pool of good tenants, you have to study the market and make sure you’re not over-pricing your home.
It’s more than just rental dollars. Tenants are looking for value. You want your price to be right, and you also want to give them a reason to pay it. Provide appliances in the home, including washing machines and dryers. Include professional landscaping so they don’t have to worry about mowing the lawn or shoveling snow.
3. Desirable Northland Rental Location
Location is just as important in the rental market as it is in the sales market, especially when we’re talking about single-family homes. Tenants are looking for a rental property that’s close to work, grocery stores, restaurants, entertainment, parks, and commuter routes.
Quality of life is important to tenants, especially today, and good residents are often willing to pay more or overlook less desirable aspects of the rental unit if the property is in a great neighborhood. No one wants to drive an hour to work or to their favorite restaurant. School districts are also important to tenants with children. Many tenants will make a decision about seeing a property based solely on where it’s located.
4. Online Rental Payment Options
Tenants are typically pretty tech-savvy. They probably found your listing online, and they are likely comfortable using digital platforms and online portals. A great way to offer service to your tenants and to ensure rent gets paid on time is to provide a way for them to pay online. This will reduce late and missing payments. It will also provide your tenants with security, convenience, and flexibility.
Not a lot of tenants want to write out a check or show up in person to hand over the rent. Make it easy and automated.
5. Attention to Maintenance and Repairs
Perhaps the most important thing tenants are looking for is a responsive approach to maintenance. When a repair is request, make sure your tenants know you’ve received it. If you’re not going to get to it right away, give them a timeline for when they can expect someone to show up.
One of the most common reasons tenants report having a bad rental experience is a lack of responsiveness when they need repairs. Increase your tenant retention by treating every maintenance issue with a sense of urgency.
These are just the top five things tenants tend to look for when they’re deciding on a rental property or a lease renewal. If you’d like some help with leasing, contact us at Donley Carver Investment Properties. We lease, manage, and maintain investment properties in Kansas City as well as Liberty, Parkville, Gladstone, and communities North of the River.