If you are one of the people thinking that the first important thing to considering related to the rental property business is the grace of location, I think that the idea can’t still be debatable.
Location is important but it surely not all the thing that can be the main factor in determining the success or failure in a rental property business.
There are still more things why your rental property is interested by the eyes of the renters and I won’t included the location as one of them in the list. Instead, I am going to show you how to make a good rental property business where what you are going to do is concerning abut its facilities and amenities.
1. Facilities are number one over the others
Price can be vary, but mostly, people will comparing the price of the rental property and how complete the facilities in it. You will be asked about the cleaning services if possible, the water heater in the bathroom, air conditioner, electricity, security and cctv, types of the bed, chairs and tables, kitchen sets and more.
If someone has not been objection with your price, then the more complete the facilities are, will mostly be the higher chance your property will be rented.
2. Gives an incentive for the renters
The next thing you can do is to offers the renters that if they will be late in paying the rental property and in the same time they still want to stay in there, tell them that you are preparing an incentive for them.
It can be the extra times or days when it comes to the payment period or the installment payment plan, or just anything. Your renters surely have been realized that they have to pay you but they may in the middle of something. Just give them times and be optimistic that everything going to be fine. Doing this, will make you as a good man and can be well-known as the kind heart landlord.
Specially for this point, I just want to remind you to be a good man. As simple as that.
3. Get rid off the extra costs
There are many rental property owners that sometimes charging the renter an extra payment. A simple example for that is if you are rented the property before by your own and live couple of months alone, wait until there will be one or two of your friends that are going to live with you for the next couple of months.
Sometimes, that condition is utilized by the owners to charge you more than before and sometime they will not. If you are the property owners, you’d better make sure since the beginning what it will be if there will be such situation. But for my recommendation, it is better to get rid off the cost since it will really not the necessary one. But if you are insisting that you want to charge the new residents, at least you have to tell that since earlier.