Times are hard — we get it like no other. And with average rent reaching a record high, now is a better time than any to rent out that spare room. I mean, why not slice that rent bill in half and spare yourself some mundane chores while you’re at it, right?
But, renting out a room in your house is no easy feat. It can take you a solid month, give or take if you’re firing on all cylinders. And if you’re not, well, let’s just say it might take a tad longer.
This is why our blog will talk about everything you need to do to get your A-game on and get that room ready to rent out. So let’s get the money rolling and follow these tips to rent out your place fast.
1. Price the Place Right
When renting out a room in your house, finding the right rental price can be a balancing act. You don’t want to scare off potential tenants with a sky-high price, but you also don’t want to set it so low that it raises suspicion or causes you to lose out on potential income. So, how do you hit the sweet spot?
Start by surveying your neighborhood to get a sense of what other landlords are charging for similar properties. This will give you a good benchmark to work with. You could also compare rates from listings of similar properties on Diggz, Zillow, Craigslist or even Airbnb.
If you want a quick and easy approach, consider slashing the average rent for a two-bedroom apartment in your neighborhood by half. But to refine your pricing strategy, try using a reliable tool like Rentometer. It’s an oldie but a goodie when it comes to assessing rental prices.
2. Paint a Picture with the Description
Don’t be stingy with the details! Start by highlighting the unique features and amenities of the room or apartment.
To make it even more appealing, showcase the nearby amenities. Is there a park, a gym, or a popular coffee shop within walking distance? Mentioning these conveniences can make your rental more desirable. Also, don’t forget to mention transportation options like bus stops or train stations nearby, as this can be a major selling point for potential tenants.
To truly captivate readers, paint a picture of what it would be like to live in the space. Is it bathed in natural light? Does it have a cozy fireplace or a stunning view? Use descriptive language to convey the ambiance of the room, making it irresistible to potential tenants. And don’t be shy about including emojis as appropriate.
3. Plus Some Quality Photos
You could paint a picture with your words all day long, but only a true picture could do it justice, wouldn’t it? Include some high-quality pictures of your place to get potential tenants’ attention. Make sure you include pictures of common areas, even if you are just renting out a spare room.
Here are some tips for capturing appealing photos:
- Use a high-resolution camera: Ensure that the pictures are clear and detailed, allowing viewers to see the space in its best light. Pictures with a professional camera will no doubt work well — but don’t sweat it. Your phone camera will also do the job just fine. And if you have one of the new phones (like the Samsung S23), you can use the zoom out lense allowing you to take wider shot and capturing the entire room. Before, only a pro wide lens could that.
- Utilize natural lighting: Open curtains or blinds to let in natural light. Avoid using flash, as it can make the photos appear harsh or artificial.
- Stage the room: Arrange the furniture appealingly and functionally. Use props such as decorative pillows, plants, or nice bedding to enhance the visual appeal of the space.
- Show the highlights: Take photos that showcase the room’s unique features, such as a spacious closet, a cozy reading nook, or a modern kitchen. Highlight any updated appliances or amenities that could catch the viewer’s attention.
Remember, the goal is to provide potential tenants with a clear and visually appealing representation of your rental property. High-quality photos can help them envision themselves living there and ultimately make a more informed decision about whether to pursue renting from you. A picture that brings out the best in your space may just make the tenant go “Damn, I wish I lived there!”
4. Showcase Positive Reviews or Testimonials
If you have received positive feedback from previous tenants or roommates, highlight those reviews in your listing. Viewers are more likely to consider your listing when they see other people had a good rental experience with you.
Plus, genuine feedback makes your listing look less scammy. Testimonials provide social proof and reassurance that the place is worth considering.
Remember to respect the privacy of your previous tenants or roommates by using anonymous or abbreviated names if necessary. With their permission, you can also consider using their full names or initials to add authenticity to the testimonials. Also you could use them as references upon request.
5. Be Responsive and Post Ahead of Time
Early birds really do get the worm. Once your listing is up, make it a priority to respond promptly to inquiries and engage actively with potential viewers. Quick and attentive communication shows potential tenants that you value their interests.
Additionally, don’t wait until the last minute to set up your listing. If you know that a sub-tenant will be moving out soon, post your listing ahead of time. This allows for ample opportunity to attract interested tenants, conduct viewings, and complete necessary paperwork without feeling rushed.
6. Having Trouble Getting Traction? Offer a Discount
Generally, it takes two weeks for your listing to start receiving applications when you are renting out a room. If you are not getting your desired response, take a step back and evaluate if there are any improvements you can make.
One effective strategy is to consider lowering your rent. While it’s understandable to aim for a higher rental income, it’s important to weigh that against the potential cost of having a vacant property. Lowering the rent slightly can attract more interested tenants and increase your chances of finding a suitable occupant.
Alternatively, you can offer incentives such as reducing the security deposit or discounting the first month’s rent. These perks can make your listing more appealing and give potential tenants an incentive to choose your property over others.
Remember, it’s better to have a tenant paying a slightly lower rent than no tenant at all.
7. Post on Multiple Platforms
When renting out a room in your house, post your listing on as many platforms as possible to give it maximum reach. This would work especially well if you live in a small neighborhood with not many candidates.
You can also list your room with Diggz in 5 easy steps! Specify the rent, and provide essential details like the number of bathrooms, amenities, and a description and you will get paired off with a roomie in no time. It really is that easy. You can even reach out to prospective roommates and tenants and not just wait around for others to contact you.
But don’t limit yourself to just apps! Get creative and leverage social media platforms to promote your listing. Post about it on your profiles and ask your friends to help spread the word to their friend groups. This multi-platform approach gives you a better shot at reaching your target audience.
Remember, it’s a numbers game. The more platforms you use, the higher the likelihood of finding interested individuals who are the right fit for your rental. After all, it’s just math, man!
8. Accommodate Open Houses or Viewings
When you have a potential tenant reach out to you, be responsive and accommodate viewings as much as possible. They can’t say yes if they haven’t seen the place, right? Plus, viewings give you a chance to casually screen the tenant and see if they would make a good roommate. Take your own roommate interview while you are at it, it’s a win-win situation!
Now, open houses might not be the norm for most rentals, but they can be a great idea. Open houses help create a buzz for your rental and prompt tenants to make faster decisions. Even if you’re a tenant looking for a subtenant, setting up an open house can work in your favor. It creates demand for the place and makes it easier and quicker to find someone to rent with.
9. Make the Room Ready to Rent
Well, this should go without saying — the place needs to look presentable. While you don’t have to make it spotless, you should aim for a clean and clutter-free environment. Take some time to tidy up the space and remove any unnecessary items or clutter that may distract potential tenants.
If the room comes furnished, give it a quick dust-off to make it look fresh and inviting. Additionally, take out the trash and ensure the apartment smells pleasant. Opening windows to let in fresh air can make a noticeable difference.
You could also take an extra step and give the place a fresh coat of paint. Opt for neutral colors that have broad appeal and can easily match different styles and preferences.
Aside from the room, invest some time and effort in improving the curb appeal of your place. Maintain the landscaping, tidy up the entrance, and or add some potted plants or flowers to create an inviting atmosphere.
Conclusion
All in all, when you are renting out a spare room in your house — you can expect to gain traction in two weeks or more. But if you want to hurry up the process and get that rental up and running, you can follow our tips to expedite the process.
And well, Diggz really is your one-stop shop for all things rent. Whether it is looking for a roommate to move in with or listing a room to rent out, give potential housemates every juicy detail. From the number of bedrooms and bathrooms to whether your place is pet-friendly. Don’t hold back!
In addition to online platforms, leveraging social media such as Facebook portals and groups can help you reach a broader audience and generate more interest in your available room. Spread the word and let everyone know you’ve got a room up for grabs.
With a compelling description, appealing photos, and strategic promotion, you’ll be well on your way to finding a housemate in no time. So, take these steps and make the process of renting out your spare room easier and more pleasant.