Managing a rental complex is a great business that can earn you a tidy sum. If you are trying to draw new renters to your apartment complex, you can take certain measures to ensure that you are successful and get a good return for the time and money you spend. Follow these five tips, and you will soon be handing the keys over to your new renters.
Present the Complex’s Beautiful Landscaping and Amenities
People looking for a property to rent usually have a list of prerequisites that can influence their decision. The most common one among them is the landscape of the property because a welcoming outdoors space makes a great first impression. This is not just true for properties but also for the 90% of homeowners who believe that it is important to keep their yard well-maintained.
Emphasize Safety Precautions Taken By You and the Neighborhood
People value security a lot, and so you can use this as a selling point to people looking for rental units. If you have recently installed CCTV or burglar-proof doors, highlight this both in your marketing and when taking prospective renters around. Let them know that you take their security seriously and that you are going to keep taking measures to make sure that security will never be an issue on and around the property.
Make the Move In Process Easy
A new renter will be looking for an easy property to move into as opposed to one with a lot of hoops that they need to jump through. Do not overly complicate the moving process for the clients interested in bringing you business. If there is paperwork that can be filled out over a period of time and does not have to be dealt with right away, do not make it a priority for them. Work with potential renters to streamline the process and let them fret about the most important things; the rest will fall into place as long as everyone is in agreement. With 33% of people renting properties moving every year, you should do your best to make it easy for those who come your way to move in.
Prepare and Market the Apartments You’re Renting
This is an important part of your plan to draw renters, and you should do it whether there was a previous occupant or it’s a brand new apartment. Make sure that all the light bulbs are working as well as all the plugs and switches. Inspect the fridge, stove, and all kitchen appliances to make sure that they have no issues. Make sure that there are no leaking taps and faucets because these can be a dealbreaker as no one wants to move into an apartment that will need repair soon after. Finally, add some tasteful pieces to stage the unit and give would-be renters a glimpse of how they could organize if they move in. Make sure to take pictures and videos to post online.
Show Off New Appliances and Other Apartment Features
If you have recently remodeled, do not hesitate to show off the new fixtures and fittings you added. Many older apartments will have outdated amenities, and most people looking for a home to rent are in search of an upgrade. New appliances and modern features in your apartment are great for business because people will talk about the advantage your apartments have over your competitors’ apartments. In the third quarter of 2017, the average sales price for Manhattan condos in existing buildings was $1.9 million. Therefore, you need to make an impression so you can get a renter over another landlord or property manager.
It is important to present your apartment in the best light possible so people are attracted to it. Play up all the good qualities! Finally, make sure that you are patient and willing to answer questions and share any relevant information with would-be renters. You just might win them over in this way.