Tips to attract the best tenants for long-term rental (Part 1)

Feb. 7, 2018, 11:21 a.m.

When you are a landlord who wants to rent out a property fast to the best tenants, you need to be aggressive and do things that will defeat the competition.

The best tenants are those who pay their rents on time, keep the property in good condition and want to stay for medium to long-term.

In Part 1 of this two-part series we will discuss a few important tips you need to consider and do when you want attract the best tenants for your property rental, thanks to Realestate.com.kh

Location of the property is important

If your property is located in areas in the Phnom Penh suburbs like Steung Meanchey, Chom Chao, or Chbar Ampov, most likely you can only rent your place to locals, particularly students and employees.

If you want to buy property for rent and have expats rent it, you should consider the following areas: Chamkarmon--BKK1, BKK2, BKK3, Toul Tum Poung, Tonle Bassac, Toul Kork and Sen Sok or Chroy Changvar

Add extra value to your property

The better the property, the more it will attract tenants. In Phnom Penh, the competition is strong because there are many apartments and condos for rent. So if you have the better property, then you will thrive well among the competition.

It is proven that most of the renters want to get extra facilities and amenities. A property with decorations and furnishings will be more attractive to prospective renters. With regards to decoration, if the tenants want their own style you change it for them.

With regards to decoration, if your tenants prefer to have their own decoration style, get it change for them.

You can also offer extra incentives such as putting in cable TV, Internet, and means of transportation such as a bicycle or motorbike.

Make sure you market your property well

Good advertising often brings in the best. You can market and advertise your property for rent by word of mouth, through the media (newspapers, magazines, and other news portals) or by way of social media (Facebook, Linkedin, Twitter, Instagram, etc.)

If you want others to do it for you, you can also hire a real estate agent to market your property. You can also seek the advice of a reputable advertising firm.

The advertisement should be attractive as possible (with glossy pictures) and clear description- rent, rooms, location, price, responsibilities, condition of property, facilities, surrounding amenities  and other features including parking, garage, garden, etc. Relevant contact details (email, phone number) should also be included.

Stay tuned for Part 2 of this series where we will discuss more tips to win over the competition, importance of contract, and how to keep your tenants happy.

Look for real estate for rent in Phnom Penh? Or want to read about critical tips for prospective lessors? Check out Realestate.com.kh.

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