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Posted by Lara Stasiw on January 25, 2021
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5 Ways To Secure Tenants in 2021

At this point it’s old news that there are a ton of properties available for lease and pricing has gone down. RECORD numbers of available properties hitting the thousands to be exact..

And that doesn’t even include any listed on private sites without the help of a Realtor.

YOU. MUST. STAND. OUT.

Any way you cut it, unless you have some SUPER rare gem of a property, you’re going to have to put in that elbow grease to be competitive. But that’s why I’m here!

5 Ways To Secure Tenants in 2021

1. Clean & Purge

Whether you’re living there or it’s vacant – CLEAN. If it’s tenanted, encourage them, PAY THEM to declutter, clean or move out so you can do both before you list it.

This isn’t just for eventual showings because you won’t have any if you don’t market the property properly. Cleaning is in preparation for the next few steps.

No one wants a gross kitchen or bathroom, especially when they can see the filth from the photos!

2. Staging, Styling

First impression is everything and visuals are what grab people’s attention. Small changes can make all of the difference in a way a space presents and appears functional.

Neutralizing and maximizing space is essential for potential tenants to connect with it and envision it being their home.

Even when I work with tenanted properties I try to find a way to do a light styling like this property below.

3. Professional Photos

SO KEY.

With crap photos you’ll get crap leads.
With no photos you’ll get no leads.

iPhone photos (no matter phone you have…) equate to crap photos. Period.

4. Marketing

3D virtual tours, floor plans, print marketing – ANYTHING AND EVERYTHING.

Not only do these things just make a difference in general… many properties for lease are competing with those listed both for lease and sale.

What does that mean?

Well, the condo market in Toronto has frankly plummeted. There is an abundance of inventory for sale and listing for sale means extensive marketing.

Because it’s a buyer’s market, many sellers also list properties for lease. They use the same marketing and their properties are far superior to your iPhone photo listing.

YOU. MUST. STAND. OUT.

5. Hire A Realtor

If you know me at all, I’m not one to sell myself. I don’t push people to use me, hire me or to buy if renting makes more sense for them. I’m just not a pushy person.

I want you to want to work with me, not because I’ve taken any kind of salesperson approach – gross.

But this I feel so strongly about…

Don’t use me if my style doesn’t reflect yours. My business style, personal style, energy style, whichever!

BUT USE A REALTOR.

Uh, Why?

Where’s the first place you go for basically anything and everything? If you don’t say the internet then you’re in the vast vast minority.

Listing with a Realtor means your property will be on MLS immediately and Realtor.ca in a few hours. It also syndicates to a number of other sites if you give permission.

Yeah, but Kijiji and Facebook Marketplace are online, so they should be fine, right?

Wrong.

Maybe a year ago, but not anymore.

Tenants have their choice of property and they are doing their own research.

It is super rare to find anyone searching only on those sites and not glancing at Realtor.ca and many others where there’s a wider selection of properties.

Also, tenants aren’t dumb. They know that properties listed with a Realtor mean the landlord has integrity and plans to do things by the books.

No tenant wants to be screwed over, it’s not cheaper on either of those platforms and it doesn’t cost them to use a Realtor to find a home. A no brainer for them!

But what if I do find a tenant on my own?

It’s a tenants market. That means they have their choice of property and A LOT of the applications are coming in dodgy.

Job stability is a problem for many. Steady income isn’t guaranteed and many people are seeing a drop in their credit scores.

A tenant that wants to lease a property listed with a Realtor means they care about doing things right and will be transparent in the application process… which is the kind of tenant you want!

It doesn’t mean every tenant with be an A+ applicant, but it provides you with a professional to help vet and mediate the process.

Online presence is key. Listing with a Realtor will get you there.

The quality of your online presence is what will help you secure a tenant. Listing with me will get you all of the other steps I listed and even more that I haven’t even divulged.

(because I gotta keep a little something extra for my clients, right?)

Lara Stasiw • Real Estate Agent & Home Design Connoisseur

Lara Stasiw West Toronto Real Estate Blog

You made it to the end! THANK YOU!!
If you’re not exceptionally bored by my run-on sentences and bad humour, keep reading! 
My other blogs cover topics on Real Estate, Home Design and Decor, as well as the Community. 

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