Renting your home out for a steady income means profiling people you are willing to entrust with one of your most expensive positions. This can be a fruitful endeavour for both parties leading to long-standing relationships, or it can end badly.
To mitigate risk, many landlords tend to opt for families as opposed to students or young singles. Families seem to be less of a risk as they have dependants they wouldn’t want to uproot, and they are trying to build a life together and are perfect as long term rental candidates.
If you’re looking to rent out to a family, you need to make your property seem more attractive to their needs. So what would get a family interested in renting your property? Let’s take a look at compelling factors.
Families are looking first and foremost, for a property that offers value for money in terms of general size and numbers of bedrooms, to accommodate the families specific housing requirements. Some may want to entertain at home and would want options like a backyard, pool, braai area and space to park larger vehicles.
This is one of the most important deciding factors in the minds of parents with young children is the overall safety of the home and the area. Ensure that facilities such as burglar bars, security gates and alarm systems are installed in the home can make a home very attractive to these young families.
A good tip for landlords is to introduce the tenants to some of the residents as well as the local police who would be able to advise you on any criminal activity in the area or to join local neighbourhood watch groups and become integrated with the community
Speak to your local council looking regarding public lighting and if no action is taken, try to ensure the street areas are well lit via your homes outdoor lighting.
One should also check the perimeter of the home for potential weak security areas, like overhanging trees or untrimmed bushes that could provide access or a hiding spot for would-be criminals.
Finally, entrances into the home such as driveways need to be secured and street parking should be visible from home and well lit at night.
Understandably a family have a lot to juggle with kids and work and applicants are looking for small- to medium-sized properties that fit their budget and are easy to maintain. If the property does have considerable upkeep a landlord can have vetted service providers such as cleaning staff, repairmen and gardening services on hand which they can introduce to the tenant to use when the home or greater property needs attention.
Distance from amenities
Having a wealth of amenities close to your home is always a great bargaining chip when negotiating with family renters. A family needs to consider the location of institutions such as education, recreation, health, shopping and dining should be within proximity of your new home.
Families also tend to look at school-related and kid-focused amenities as well as access to 24-hour healthcare facilities as well as parks and other outdoor areas that their kids would find attractive.
Having all of the aforementioned amenities would be an outstanding find for any family and would encourage them to want to own a place that offers them access to these sorts of facilities.
Making your home family-friendly
Finding the perfect rental home can be a strenuous process for young families as budgets are split between them and dependants. Making your home attractive for families may not be immediately lucrative but can pay off in the long run as you save on having to find new tenants and can always increase the rent as the family begins to find their feet.
Make sure your eviction process is legal
Evictions are never easy and should always be seen as a last resort, always try to come to terms with your tenant before moving into the legal process of eviction. If however, you feel like you have no choice, it is best t contact a professional eviction lawyer who can guide you through the process of a residential eviction.