Is this your first time renting property? Convincing prospective tenants to make their new home from your real estate rental may seem like a daunting task, but there are several key points new landlords can consider when jumping into the competitive renter’s market.

1. Present a clean and tidy space. Avoid cluttering apartments or rooms with personal items or furniture as it will make the prospective tenants’ assessment of space more difficult.
2. Know your Area. This may seem simple but being familiar with surrounding businesses, transportation routes and other services is crucial when promoting the location of your property to renters.
3. Consider including utilities in the bill. This will help prospective tenants manage their finances when paying rent.
4. Install and maintain alarm systems. Smoke alarms, carbon monoxide detectors and security alarms are among the most important features in any living space. Make sure to routinely check and test these devices.
5. Know the law. Become familiar with your state/province and local community’s laws and by-laws that protect the rights of both owners and renters. It may be in your interest to consult a real estate lawyer as well.
6. Think about your target market. Knowing the needs of potential renters before they consider your property is essential to getting that vacancy filled. Students, professionals and families all have different needs and usages of space, so consider those differences when managing your property.
7. Be clear about expectations. Let your prospective renters know when rent is due, how to go about repairing things, what the appropriate noise level is, when and how garbage is collected, etc. Maintaining clarity is essential when establishing a working relationship with renters and will avoid spats, misunderstandings and disagreements in the future.
8. Provide touchups. Taking care of paintwork, windows, door hinges and banisters will not only make the living space more attractive but will also show renters that you will be an attentive landlord.
9. Get everything in writing. Any agreements, building codes, repair orders, etc. should be in writing to protect the interests of both the owner and renter.
10. Be fair and respectful. Always avoid discrimination and be mindful of how prospective renters perceive your actions. A tenant is more likely to take excellent care of their space and more abiding to their landlord’s guidelines if that landlord has developed a good rapport with them.

With these tips in mind, first-time landlords can foster healthy relationships with their renters while also maintaining suitable and attractive living spaces. When entering the real estate market, from any angle, it is important to familiarize yourself with current regulations, laws and market conditions. There is a great deal of information online offering advice to first-time landlords and local libraries are also vital resources for specific information regarding your own renting community.

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Are you currently selling real estate? Have you already shown your property a few times but no one’s biting? It could be that your house appears to be too small for prospective buyers.

Here are a few tricks of the decorating trade to create the illusion of a bigger and better house for sale:

1. Clean up and de-clutter: if there’s only one item from this list that you use, let it be this one.
   1. Get everything off the floor that doesn’t need to be there, that includes Aunt Mimi’s heavy area rug! More floor space = bigger.
   2. No more than three items on any table or counter; put away the day-to-day items, i.e. toaster, coffee maker, laundry baskets, etc.
   3. De-personalize your home: help potential buyers picture themselves in the house by removing personal items such as family photos and trophies.
   4. Scale furniture to the size of the room (e.g. oversized sofas may be comfy but in a small room, well, just think of Aunt Mimi in a bikini…) and don’t block walking pathways.
   5. Open the shower curtains and change them to transparent or light colours.

2. Bright or neutral paint reflects light, maximizing the effect of natural lighting; dark colours absorb light, and along with busy wallpaper, make a room look smaller.
3. Good lighting: make certain your window coverings are sheer or pulled back to let in more natural lighting and brighten up dark corners with lamps.
4. Mirror magic: mirrors extend either the width or breadth of rooms, depending on what you want. They also reflect both natural and artificial lighting, bouncing light rays deep into the room both day and night.
5. Wall shelving: Ah, the old build up rather than out secret. Make use of all your space with high shelves on the walls for those rarely used items.
6. Doors: who needs them? Small spaces can be made more comfortable if those pesky doors are removed. Instead, install sliding or folding doors, or for doors that don’t need a lock, try retro ideas like hanging bead work! (Just make sure it works with the surrounding décor.)
7. Bring the outside in: fresh flowers and plants make homes more inviting.

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