Ideally, securing the perfect tenant would be easy. Your dream tenant would contact you, the application would go seamlessly, and when it came time for the showing, you and the tenant would fall in a type of platonic love — for the place, for each other, for this whole process.
Unfortunately, it isn’t quite that easy (yet). Finding the perfect tenant can mean going through up to thousands of applications, the feeling of defeat, and trying all over again.
TRICK #1) Offer a value that will set you apart. Offer a $100/month credit towards furnishing their new home! That is a $1200 credit/year!
Imagine furnishing a room for your perfect tenant, where they get to design what they want it to look like. Increase the rent by $100 and give away $100, have them make a home with your investments. Happy tenants = Happy you
And since you are here…. A little bit more to ponder.
The Type Of Furniture You Have Narrows Down Your Target Market
It’s common these days for millennials to be on the move. Moving to different cities, having less items to carry with them, focusing more on experiences rather than possessions that they than have to be responsible for later. In fact, 68% of young adults feel like they don’t have the resources to live the kind of life that they want.
These days, millennials gravitate more towards ‘artisan spaces’, spaces with more of a global and feminine aesthetic, that use statement pieces and that can used as a base where one can add their own splash of personality.
Rental Furniture Can Reduce Maintenance Needs
It’s common knowledge that moving in and out of a place can be quite a bit of work. Factor the notion that damage to the structure is a big possibility (dents in the walls, scraped tiles, or a worn carpet), and it makes for a rather stressful time overall.
Choosing to go down the path of renting furniture can remove that worry altogether, as vetted and trained professionals move in and out the furniture.
Why Lease Furniture In This Day & Age?
Millennials are the ‘renter generation’, with 60% of millennials choosing to rent due to either starting a family later in life, moving around because of their career, or kicking off their financial independence era.
It only makes sense, then, to focus on the two main values that millennials focus on: flexibility and convenience. The less stuff they own, the better. It reduces their worry about having to pack up and haul all their furniture off with them.
Providing an artisan space for a renter to live in creates a sense of illusion of having their life together and feeling settled, as well as giving them a space to be proud of — one that they feel comfortable coming home to and inviting their friends and family over to.
For the renter, it’s setting up home without having to justify the expense. For the landlord, it attracts the right target market and reduces worry about maintenance costs in the long run.
AMY Inspired Helps You Add More Value
If you’re a landlord, property manager or real estate agent in the Vancouver area who needs property management assistance, don’t hesitate to reach out to AMY Inspired today.
AMY can help with all your furniture rental needs, down to the accessories that add the finishing touches to a home — all at a price you can afford.