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.
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.