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 Westchester County during COVID-19.
Appropriate Rent
During the COVID-19 pandemic, setting an appropriate rent amount has become increasingly important for landlords in Westchester County. By conducting thorough market research, landlords can determine what the current market rent is and use this information to set their rental prices as close as possible to that amount. However, it is important to also ensure that these rental prices align with the landlord’s rental proforma goals.
To attract more potential tenants during this time, landlords can consider lowering their rental prices by a few percent to be just below the market rent. This strategy can help bring in a wider variety of tenant candidates, which can ultimately lead to better tenant selection. Additionally, tenants will likely appreciate the affordable rent during these uncertain times, especially if they have experienced job loss or financial hardship due to the pandemic.
By setting an appropriate and affordable rent amount, landlords can not only attract potential tenants but also foster positive tenant-landlord relationships. This can be particularly beneficial during the COVID-19 pandemic, as it is important for landlords to prioritize the well-being and financial stability of their tenants. In doing so, landlords can ensure that they are providing a valuable service to their community while also achieving their own rental goals.
Be Flexible
The COVID-19 pandemic has brought significant financial challenges for many tenants in Westchester County. In light of these circumstances, it is important for landlords to be flexible and accommodating in their rental policies. One of the most effective ways to demonstrate flexibility is by being compassionate and open to discussing rent payment plans with tenants.
To show this flexibility, landlords can consider accepting multiple partial rent payments over a period of time to allow tenants to pay their rent in installments. This strategy can help alleviate the financial burden on tenants who may be experiencing financial instability due to the pandemic. Additionally, landlords can work with tenants to adjust their rent payment plan to fit their individual needs. This may include temporarily lowering the current and next few months of rent and raising the second half of rent payments to make up the difference.
By being flexible and accommodating with rent payments, landlords can foster positive relationships with their tenants and support them during these challenging times. This strategy can also help ensure that tenants are able to stay in their homes and maintain a sense of stability and security during the pandemic. Ultimately, this can benefit landlords as well by reducing the risk of rental vacancies and ensuring a steady stream of rental income over time.
Offer Extras
In today’s highly competitive rental market, landlords in Westchester County are constantly seeking new and innovative ways to attract top-quality tenants. One effective strategy is to offer extras that can help distinguish their rental property from others in the area. By offering these value-added features and services, landlords can improve their chances of attracting the best possible tenants.
One of the most effective ways to make your rental unit stand out is by ensuring that it is equipped with all the major appliances and amenities that tenants require. This includes a clothes washer and dryer, stove, fridge, and microwave, which are considered essential in any modern rental unit. Additionally, landlords can also ensure that the unit has clean and well-maintained blinds, door handles, and locks to further enhance the tenant’s living experience.
To sweeten the deal even further, landlords can consider offering a free unlimited utility service, such as internet or cable, to their tenants. This not only provides an additional incentive for tenants to choose their rental property but can also help enhance the tenant’s overall satisfaction with the unit. Another way to go the extra mile is by providing basic high demand essentials, such as a pack of paper towels, toilet paper, or hand sanitizer with every payment towards rent.
By offering these extras, landlords can set themselves apart from their competition and improve their chances of attracting top-quality tenants who are willing to pay a premium for added convenience and comfort. Additionally, offering these value-added features can also help foster positive tenant-landlord relationships, as tenants are likely to appreciate the extra effort put in by their landlord to make their stay comfortable and enjoyable.
Make Improvements
Maintaining a rental property is crucial to ensuring long-term success as a landlord in Westchester County. One effective way to attract and retain great tenants is by making regular improvements to the property. This can not only enhance the overall appearance and functionality of the unit but also demonstrate to tenants that their comfort and satisfaction are a top priority.
If you are considering making improvements to your rental property, updating the kitchen can be a great place to start. This may involve repairing or replacing cabinet doors and countertops that show visible wear and tear, or installing new appliances to modernize the space. Additionally, it’s important to ensure that all toilets, sinks, and showers are clean and in proper working condition, with no rust or mildew buildup that can cause unpleasant odors or health concerns.
In addition to making necessary repairs, landlords can also consider updating the interior of the unit with a fresh coat of paint and patching any holes or other damage that may have been missed. These small touches can make a big difference in enhancing the overall appearance and appeal of the rental unit.
By taking the time and effort to make regular improvements to their rental property, landlords can demonstrate to tenants that their satisfaction is a top priority. This can help attract and retain high-quality tenants who appreciate the effort put into maintaining a clean, modern, and well-functioning rental unit. Additionally, happy tenants are more likely to prioritize rent payments, reducing the risk of rental vacancies and ensuring a steady stream of rental income over time.
Curb Appeal
As a landlord in Westchester County, it is important to prioritize the appearance of your rental property, particularly during the COVID-19 pandemic. By enhancing the curb appeal of your property, you can make it more attractive to potential tenants, which can help increase the number of interested applicants and reduce the likelihood of prolonged vacancies.
One of the simplest ways to improve the curb appeal of your rental property is by ensuring that the exterior of the property is well-maintained and inviting. This may involve pressure washing the exterior, ensuring that the landscaping is well-manicured, and updating any outdated features that may detract from the overall aesthetic. By doing so, you can help to create a positive first impression for prospective tenants, and demonstrate your commitment to providing a high-quality living experience.
Additionally, it is important to recognize that the appearance of your rental property can serve as a reflection of your management style. Properties that are clean, updated, and well-maintained are more likely to attract high-quality tenants who value a comfortable and welcoming living environment. On the other hand, properties that appear dark or dingy may deter potential tenants and increase the risk of turnover.
Overall, prioritizing the curb appeal of your rental property can have a significant impact on its success, both in terms of attracting new tenants and retaining existing ones. By investing in the appearance of your property, you can demonstrate your commitment to providing a high-quality living experience, and attract tenants who share that same commitment.