Skip to main content

How Landlords in Southwest Michigan Can Appeal to Tenants During COVID-19

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 Southwest Michigan during COVID-19.

Appropriate Rent

One of the best ways landlords in Southwest Michigan can appeal to tenants during COVID-19 is to set an appropriate rent amount. Do your research to see what the current market rent is and set it as close as you can to that amount while making sure it fits your rental proforma goals. If you need to attract more potential tenants, you can lower your rent a few percent to be just below the market rent. This should bring you a better variety of tenant candidates so you can be sure you are comfortable with the tenant you end up choosing. Tenants will also appreciate the affordable rent during these uncertain times. All working-age members might not be employed right now, and some may have been employees of companies that COVID-19 has put out of business, so a lower than market rent may be a blessing to some. 

Be Flexible

Another way landlords can appeal to tenants in Southwest Michigan 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

If you can, you may want to update the kitchen, especially if there is visible wear and tear on the cabinet doors or countertops. Make sure all toilets, sinks and showers are clean and in working condition with no rust or mildew build up. You may even want to throw up a fresh coat of paint and patch any holes missed. Great tenants will appreciate your efforts to keep the property up to date and clean and will work to make sure the rent gets paid.

Curb Appeal

One of the easiest ways landlords in Southwest Michigan 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.

Call I Buy SW MI today at (231) 392-3262 or send us a message to discuss how landlords in Southwest Michigan can appeal to tenants during COVID-19.

Labels:

Comments

Post a Comment

Popular posts from this blog

4 Common Mistakes to Avoid When Buying Land In Muskegon MI

  Astute investors in the real estate realm who aim to broaden their investment portfolios comprehend the promising returns and countless innovative applications that land can present. Frequently, these enterprising investors merge their diverse business ventures with real estate investments to not only generate wealth but also expand their enterprises by developing a tract of land. 1. Neglecting to conduct proper due diligence ranks among the most crucial errors to steer clear of when purchasing land in Muskegon MI. This entails thoroughly researching the property before presenting an offer, encompassing an assessment of zoning and land use regulations, environmental considerations, as well as the availability of utilities and access. 2. Lacking a well-defined investment strategy stands as another prevalent error—failing to establish a clear plan before acquiring land. It is vital to determine your objectives, whether they involve long-term landholding or targeted developme...
Post a Comment
Read more

Questions to Ask Yourself Before Selling Your House Fast

  Selling a house fast can be a daunting task, especially if you're not prepared for it. Before putting your house on the market, it's important to ask yourself a few questions to make sure you're ready for the process. Here are some questions to consider: Why do I want to sell my house fast? Before making any big decision, it's important to know why you're doing it. Is it because you're moving to a new city? Or do you need the money for an emergency? Understanding your motivation can help you make the right choices throughout the selling process. How much is my house worth? Knowing the value of your house can help you set the right price and negotiate with buyers. You can hire a real estate agent or use online tools to get an estimate of your house's value. What repairs or renovations does my house need? Before putting your house on the market, you should take care of any necessary repairs or renovations. This can help increase the value of your house and a...
Post a Comment
Read more

How To Sell Your House Fast in Southwest Michigan To Save Money and Time

Do you need to sell your house fast in Southwest Michigan? Doing so will help you to save time and money when all is said and done. Keep reading to learn how to sell your house in Southwest Michigan so you can move on faster and with more money in your pocket.  Many people find themselves in a situation where they need to sell their houses fast, without any delays or extra costs. People dealing with foreclosure, divorce, repairs, or an inherited property may not have the time or money to wait around while a buyer is found. Below are a few tips to help you sell your house fast in Southwest Michigan, ultimately saving you time and money when all is said and done. If our team can help you in any way or if you have questions about selling your house in Southwest Michigan, please feel free to reach out! Price The House To Sell If you want to sell your house fast in Southwest Michigan and you want to do it the traditional way, you’ll need to price the house to sell. This...
Post a Comment
Read more