It is now common that some tenants are ready to buy property. Unfortunately, many tenants simply lack the confidence or know-how to move forward. With rising rental prices and rental housing shortages, it makes sense to help tenants get into their own property sooner.

Helping your tenants buy property could actually help grow your property management business because property owners might also need property managers! Not only are you helping make your tenants’ dreams come true, but you are also getting the sale. Remember that tenants also have family and friends. They can refer more clients to you.

How do you get started? Educate your tenants. Most tenants are unaware of the options available or how to even go about getting a home loan or if in fact they are even eligible for a loan. It’s worth marketing to your tenants and opening their eyes up to possibilities, or at least encouraging tenants to have that conversation with a mortgage broker who can give them the right advice to help them move forward with their plans. Doing this has many benefits in the growth of your portfolio, your brand, and your business.

Often tenants are afraid to ask the all-important questions. If you are armed with the information and tools to take to your tenants to help them get into their property sooner, this will then be a great way to build your business over time. If you give great advice and help enough people, this will also create great word-of-mouth

Talk to some industry experts about possibly holding a seminar for your tenants. And maybe take a tour of your potential investment properties on the market with your tenants. This will encourage tenants to ask questions and encourage them to learn about and therefore buy property. These ideas will bring opportunities.

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