Do You Need a Landlord Makeover?
Getting Your Unit Rented May Mean Breaking Old Habits
Vacancy rates are high right now, and if you are one of the many landlords facing the financial strain of an empty unit, it may be time to break some bad habits.
These easy steps may be all it takes to get it rented:
No One Reads Newspapers Anymore
Well, that’s not entirely true, but newspapers are losing subscribers at a record pace in favor of online news sources. Also, many renters are on the move, checking out several new cities with better job prospects.The new reality: Yard signs and the Internet are where it’s at when it comes to attracting tenants.
Make sure your signs alway looks new. For more on Internet ads, check out our feature How to Write a Killer Rental Ad.
For more on easy-to-use Internet directories, visit MyNewPlace.com, and read 26 Million to Use One Big Classified Ad.
Phone Tag? Sorry, You’re It!
Offer enough information on your sign and in your ads to prescreen applicants.
If you still can’t take all the phone calls when they come in, consider scheduling an open house. Announce it on your voice mail.
Love At First Sight
It’s easy to turn a blind eye to the outside appearance of the property, especially when you’ve walked past it a hundred times.But first impression is king, and that starts at the curb.
Keep it tidy, keep it well-lit. Tenants want low-maintenance and safety, so if you’ve got it, flaunt it.
Who’s the Boss?
Many recent high-profile news stories lead tenants to believe that they can bargain for the moon. Expect to negotiate. The key to a successful negotiation is knowing your bottom-line before you meet an applicant.
And remember, don’t ever rent without a full tenant screen. The cost of that mistake can quickly outpace the cost of a vacant unit.
American Apartment Owners Association offers discounts on products and services for landlords related to your real estate investment including REAL ESTATE FORMS, tenant debt collection, tenant background checks, insurance and financing. Find out more at http://www.joinaaoa.org/
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