7 Tips That Can Help You Attract Upscale Renters and Buyers

Posted On Saturday, 15 May 2021 21:01

While it can be financially rewarding, it’s not easy to draw an upscale renter or buyer to your home. You must take many steps to match with the right client who is reliable and appreciates the value of your property. Here are some steps that may help: 

#1 Use the Best Marketing Channels

When marketing a first-class property, you need to use the proper marketing channels. You're unlikely to find your ideal customer through a classified website like Craigslist.  Instead, partner with a real estate agent with a proven marketing system that specializes in premium properties. They may already have a few customers for you lined up! 

Alternatively, use social media channels to target the right client. For example, you can utilize Facebook’s advertising tools to reach buyer and renters that fall within your niche.  

#2 Renovate the Property

High-end customers expect to see a high-end property. Get qualified assistance from a reputable local professional like Kaleidoscope Design Studio to transform the look of your investment property. The best design studio can help make the following spaces look exceptional:

• Outdoor
• Master bedroom
• Kitchen
• Living room
• Kid’s bedroom
• Bathroom
• Home office
• Dining room
• Basement
• Attic
• And more

 A top professional can also help direct the look of a newly constructed home. They should also have expertise in high-end dwellings of all shapes and sizes, from houses and townhouses to the best condos in the metropolitan area

Certainly, decoration is a task best left to the professionals. A good designer will help you achieve your vision for your investment property by picking the right style, colour, furniture, etc., for your target market. 

#3 Spruce up the Place

Even if the property doesn’t require upgrades, you can quickly develop curb appeal. A landscaper can enrich the lawn and yard, while a contractor can repair or enhance the driveway. You can also replace some fixtures with modern ones outside and inside the home to make your property more attractive without breaking the bank. 

#4 Go Modern

It would help if you modernized your home to impress the current generation of affluent customers. Invest in some of the following smart home technology to take your property to the next level:

• Fridges, microwaves, washing machines, dryers, garage door openers, and other appliances.
• Speakers, TVs, wall tablets, and other home entertainment devices.
• Lighting and climate control options.

 Not only is such technology exciting, but it can also help reduce energy bills. The many features of smart home technology will help you market your property to the right clientele. 

#5 Go Eco-friendly

The environment is a big concern for many young and wealthy homeowners and renters. Invest in eco-friendly options such as solar thermal units for more sustainable heating options or boilers fueled by biomass. 

You can also stage the home with biodegradable or sustainable items like eco-friendly lightbulbs, toilet paper, compost bins, etc., to charm forward-thinking clients. To go the extra mile, consider adding a dedicated charging point with built-in safety features for an electric vehicle in the garage.

#6 Secure the Property

Security and privacy is a significant concern for many residents in upscale neighbourhoods. You probably don't have to worry about security if you're investment property is in a condo. Most condominiums already have a 24/7 concierge and camera monitoring. 

However, there are several ways to enhance security for a detached house. 

• Smart doorbell camera
• Windows with working locks
• Window alarms
• Reinforced glass
• Attractive looking yet highly secure door screens
• Digital security system
• Secured air conditioners
• Motion sensor bulbs in the yard

Of course, one of the best ways to enhance security is to install good lighting. Not only does a well-lit home look good, but it discourages intruders. You can also invest in classy shades or frosted glass to enhance privacy. 

#7 Screen Applicants

It would help if you took suitable precautions to avoid drawing fraudulent renters and buyers to your property. The wrong tenant can make you wish you never entered the property business. Some professional swindlers make their landlord’s lives miserable by moving from home to home without paying rent, stealing appliances, making false calls to police and fire departments, and refusing to move out without a fight. 

• Ask for reference letters from previous landlords and verify them. Cross-check the references to ensure they're not part of a scam.
• Check employment letters to validate their income.
• Look for red flags on their credit report. Revolving credit missed payments and bankruptcy declarations are a bad sign.
• Authenticate all financial documents with professional help to avoid scams from a potential buyer.
• Partner with a criminologist that specializes in background checks in the real estate business to be extra thorough.

When looking for upscale renters and buyers, follow these seven steps to improve your chances of achieving success. By being proactive and thorough, you can match with the perfect client for your property.

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