Bangalore, the city of Information Technology and Start-ups has witnessed and continues to cross the threshold of the high property demand here. From new launches to resale units, the city witnesses equal demand for all property types. But the one property market that is on a roll in the IT city is the rental market. People invest in a rental property to then change their residence and follow their company wherever it goes. With the rental market being in such high demand, it can get extremely difficult for a landlord to refine and shortlist from the huge population of tenants.
Here are the four points that would make it easy for you to find the right tenant for your property. But before you start with them, make sure you have all the plus points of your house jotted down somewhere to share with the prospects. For example if your apartment is near some corporate, mention it. Mention the amenities like ATMs, Banks, Hospitals, etc. that are in the vicinity of the project to the prospects.
Once you are through with that, come down to these four steps guaranteeing tenants for your property.
Do your research
Before you even think about putting your property on rent, do your homework. Keep the data of what are your neighbors offering in terms of monthly rent ready with you. To make it easy, use the comparative price trends chart available on the leading property portals to get the insights in real time.
Along with rent, keep a tab on what amenities they are offering, the security amount they are asking for and the methods they are adopting to find the right tenant.
Take help of a realtor
While it is true that property dealers charge a lot or a fixed percent of the deal, but what we cannot ignore is that they also have a database of people looking for a rental accommodation in a particular property. Also most of the time the rent rate comes down when a realtor intervene.
But do not go about contacting every other property dealer; know which is genuine by checking their reference or cross checking their record and expertise.
Advertise it right
Take help of all the leading property portals on the World Wide Web and list your property under the ad section of- ‘Apartment for rent’ for free or you can exploit the paid version feature to make your property available on the top. While it is a good option that ensures high visibility, do not just rely on property portals to advertise your house. Make a website around the story of your house or post a virtual walkthrough of the property on YouTube and then share the links among your friends to share further. The aim here is to advertise your property in a way that will ensure maximum eyeballs.
Prepare your house
One of the best ways to turn viewers into potential tenants is by preparing your house to make it stand out from the crowd. Work on your house right from the garden to the tiniest corners. Go from anywhere between the house on a magazine cover to a place where one can imagine living with their family. Keep your house stage ready at all times for you can never be sure when the right prospect knocks on your door.
Renting out your apartment in Bangalore will not be extremely difficult considering the rise in demand from the ever growing IT population in the city. Even though you are in a hurry to find a good tenant and the aforementioned pointers will definitely fasten the search, do not be too hasty and ignore the screening process. Do a thorough background check on the tenant before finalizing them and handing over your house.
Author Bio: Tripti Rai, a keen observer who writes for 99acres.com and swears on fiction readings. Professionally working with a concentrated focus on real estate sector, she keeps her readers informed about latest developments in real time through her writing. When found not writing or reading, she is busy thinking about the next book or writing inspiration. You can find her on G+ and LinkedIn.