8 Ways on how to increase your rental occupancy rate

In Kenya, we have several old block of flats that have been in existence for decades. Some old block of flats have been demolished to pave way for the modern complexes while some have been renovated. But no matter how old your block of flat is, if you make it more appealing to prospective tenants, the rental occupancy rate in the building will always be at it’s highest.

If you wonder why tenants are constantly vacating your block of flats or not placing much value on it, you may need to ask yourself questions or address may be the complaints you have been constantly getting from your tenants. In most cases, this problems are even glaring to you or you have been to ignorant to address them.

Some landlords sometimes hardly realize that what they are sitting is gold & calls for special attendance and attention to maintain nearly the entire number of original dwellers for a longer period . You can improve your property to consistently attract prospective tenants to desire to occupy it.

1. Renovate the property

One of the ways to make your property attractive to potential tenants is by renovation. Naturally, people prefer and gravitate towards properties that look new and appealing. A renovated property stands a higher chance of having very many potential tenants inquiries.

2. Use modern facilities

When you renovate, don’t miss out on modern facilities. For instance, if the property has a terrazzo flooring, you may need to switch to tiles. Houses with pit toilets can be changed to WC (Water closet). There is a lot you can incorporate into your property that increases the property value and attracts potential tenants.

3. Be creative/ start a catchy business

You may need to include stores or shops to let on the ground floor and fronting the property and let the shops or stores to someone who wants to sell various household items. Having a store like a mini-mart on your property, might attract potential tenants to inquire because no one likes to go through the stress of buying what they need out of their vicinity. If your property has a mini-mart facility, it’s sure that you might get tenants sooner than expected.

Also you may need a sample house on site and an onsite office with attendants, depending on how large the property is. 

4. Paint attractive colors

Colors are vital parts of a building. Beautiful & attractive colors make your building stand out from the rest as wells as drawing people’s attention to the property. Naturally, we have the eyes for beautiful colors and this should be taken into account in  the process of renovation.

5. Don’t make the price & payment terms too expensive

While letting out your property, there is a temptation to want to put the price on the high side because you are considering how far you have invested in it. Yes, people may be interested in it but it is likely it may take a longer time to rent out if it’s too expensive which isn’t good.

6. Consider buying a back-up generator and solar for water heating and common area lights

This can be a big plus on your rental property. It’s not strange that we live in a country still struggling with power supply, having a central generator in your rented property is not a bad idea. For that alone, tenants will be more interested in your property than any other similar property on the same neighbourhood.

7. Create a consistent water supply

In some areas, water is a major problem, with constant county council water rationing. Water scarcity happens due to some factors. The only viable solution to this problem is increasing the stock of reserved water, may be increasing the reserve tanks capacity or sinking a borehole. Tenants can do anything to be in a property where the water supply is available constantly.

8. Keep it always neat and well maintained

Poor maintenance especially cleaning and maintaining the common areas make some properties look extremely neglected and unkempt compared to actually how they should be looking. It is very difficult to get potential tenants for the properties. An unkempt property is a huge turn-off to potential tenants .It actually degrades the standard of your property, as it makes your property look horrible & haunted because of poor maintenance and being rundown.

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