4 Clever Ideas to Stand Out in a Competitive Rental Market
There are over 40 million Americans renting, so your customer base is quite large if you are a landlord, but that doesn’t mean the rental market isn’t competitive. While we see fierce competition among renters in many markets, property owners can’t just sit back and wait for applications to roll in. There might be plenty of potential tenants out there, but they’re becoming increasingly savvy and selective about where they choose to call home.
With more investors jumping into the property market thanks to historically low interest rates, renters have more options than ever before. They’re not just looking for four walls and a roof – they’re hunting for value, quality, and that special something that makes a rental feel like it could be home. In a sea of listings that all start to sound the same, being memorable is the only way to stop potential tenants from scrolling.
The humble backyard shed
It may sound simple, but storage is often a make-or-break factor for potential tenants. A well-maintained shed can set your property leagues apart from the competition, especially in the eyes of renters who are downsizing from larger homes or combining households; they often have a lifetime of belongings that won’t fit in standard closets.
A shed is a versatile space that can give your property the coveted flexibility modern renters crave. These days, it is very easy to design your ideal shed so that it complements the existing design of your property. Properties with well-maintained outdoor storage can command higher rents and boost overall value, so it is always money well spent.
Going green is smart business
Environmentally conscious renters do exist, which means helping the planet via your property creates a compelling value proposition! Elements like energy-efficient windows, smart thermostats that lower utility bills and any other green inclusions that offer tenants a chance to live their values while saving money are a win.
Eco-friendly upgrades have an attractive dual impact. For example, water-efficient fixtures and native landscaping slash utility costs and maintenance needs while creating a property that stands out in listing photos. We are in a market where every advantage counts, and being able to advertise your property as “eco-friendly” can be the difference between a quick lease and a lengthy vacancy. Green features also often translate into higher property values and longer-term tenancies as people want to stick around in a home that’s both comfortable and cost-effective to run.
Craft a listing that stops scrollers
Your property listing is often a potential tenant’s first impression—so you need to make it count. Your photos need to do more than just document your space; they need to tell a story. Think about timing (that golden hour light works wonders), angles (get those corner-to-corner shots that show the true space), and storytelling (capture the flow from room to room). Video walkthroughs give potential tenants a crucial sense of space and flow that photos alone can’t convey.
When it comes to your listing description, ditch the tired rental jargon. Instead of just saying “spacious kitchen,” paint a picture: “Sun-filled kitchen with breakfast bar, perfect for morning coffee or working from home.” Focus on how people will live in the space, not just what’s in it.
Remember to lead with your property’s standout features in the title. Whether it’s “Corner Unit with Private Garden” or “Renovated Heritage Apartment with City Views,” make those first few words count. Your title should be informative and intriguing, compelling prospects to click through and learn more.
Ensuring safety and security
Peace of mind is what truly sells a property. Safety concerns are at the top of many renters’ minds, making quality security features essential selling points. Smart security features do double duty: they protect your investment while making your property significantly more attractive to quality tenants. Thoughtfully placed outdoor lighting eliminates dark corners, modern lock systems provide that extra layer of confidence, and well-maintained security screens offer protection and peace of mind.
Plus, these security investments often pay for themselves. Many insurance companies offer reduced premiums for properties with comprehensive security systems. Plus, tenants who feel safe are more likely to stay long-term, reducing those costly turnover periods. Show tenants that you take their well-being seriously!
How to find high-quality tenants
Protecting your investment and choosing the right tenant is much easier with RentRedi. We have screening reports, verification of a tenant’s income, and a partnership with TransUnion that provides access to full credit, criminal, and eviction history reports. Let us help you find a tenant you can trust today.