5 Smart Strategies To Attract More Tenants To Your Rental Property

Attracting more tenants to rental property

You’re not making money unless your rental property is occupied. If you can’t get the tenants to come check out the place, it could be a while before you get that rental occupied. If you’re trying to fill some empty beds, there are several things you can do to make your rental more attractive to potential tenants. Some of it comes from the way you advertise the property, some of it comes from what you’re willing to offer, and some of it comes from making yourself stand out among the other landlords.

  1. Update, Improve, and Modernize

If there are more desirable rentals in your area, tenants are going to flock to those first. Update your rental. You can work with modernizing what you have, or you can build new construction. If you have a lot of rentals, it may be worthwhile to learn how to manage the construction yourself. Not only are updated and modernized rentals more appealing to tenants, they’re more appealing to your wallet. You can charge more for a luxury rental than a basic apartment.

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  1. Be Willing to Offer Something Unique

Think about what you can do that would make your rentals more popular among people with specific needs. Would putting in a washer and dryer unit make you stand out? What about a lenient pet policy to draw in tenants with dogs? Research your competition. See what you can offer that they can’t offer. It may differ from your original vision, but it’s better to make money on a compromise than it is to be broke holding your ground.

  1. Talk About The Area

Most people list their rentals in specific terms. How many bedrooms, how many bathrooms, and how many cars can fit in the garage are all valuable information. Fresh paint, new flooring, and updated kitchens are also a plus. But what about everything else? Does the rental have a spacious yard? Is it close to parks or located near great schools? Can they get to every shop or restaurant they’d need to get to by easily walking there?

  1. Be As Flexible as Possible

You could be alienating tenants by putting too many restrictions on contact methods and availability. If they can only see the rental on weekdays between noon and five, they may never get to see it. Some people would need to take time off work just to spend an hour checking the place out. If people are making lists of places they’d like to check out and you’re unable to answer the phone, they might skip over you and move to the next one. Provide several contact methods, including your email address, for people to get in touch with you about your rental.

  1. Be Clear About Your Criteria

Is the problem that you aren’t finding any tenants, or that you aren’t finding the right tenants? Sometimes, the issue is more about quality than quantity. In every place you list your rental, be up front about the kind of renter you need. Give them an idea of what the terms are and who you think would thrive in your rental. You’ll make out better in the end by being specific – the right tenant will last for a long time, and the wrong one will leave you advertising again after a lot of headaches and a few months.

It also helps to take some feedback from your current or previous tenants. What drew them to the place? What did they like about it? Their answers can shape the way you productively advertise to tenants in the future.

Bio:

Sienna Walker is a business and finance blogger, currently supporting DirectorStats. Always interested in new ways of bringing additional income, Sienna is also a huge supporter of finding unique ways of

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If we see from business’s perspective, those long decision-making days are totally killing. Real estate brokers and firms put of much efforts to close a deal that each day wait is nothing less than torture. However, they can actually speed up the closing process by automating the sales process. Automation of few tasks like lead generation and lead management, reply the buyers’ queries promptly and timely and track the progress of each lead will help them to leverage the sales process and close a deal far earlier than ever before. To know more how to achieve this, keep on reading. Easy lead management means faster deal closing Lead is what you need to witness success. Real estate is one such industry where lead conversation ratio is very low. The reason being is a lot of people inquire but only a handful of buys. With such a low conversion ratio, no real estate business can afford to lose a single lead. Plus, managing so many leads is also very tough. Your representatives will find it difficult to sort them out based on their interests and needs. Once you automate the lead management process, you can easily save all the data over a single place. You can quickly create a new lead, keep them posted about your deals and offers, and add customized activities with respective leads. One more thing here to notice is that there is a need to go a lot of regress follow-up in the real estate industry. You need to contact your leads again and again. With automation of sales process using CRM software, you will be able to update the follow-up details, set next follow-up date, import and export any other details related to the leads and add custom fields to them. When you are able to get all the details related to a particular lead, chances are high that you will do the right pitching and convert them into business. So, easy lead management simply indicates that you will speed up deal closing process. Simplified operations Real estate is one such industry where operations are pretty complex. Regress follow-up, huge negotiation, long client face-time, and various paperwork are some of the operations that are highly labor intensive and complex in nature. With such complex operations, it is often found that real estate agents stay engaged in all these tasks most of the time and loss focus from lead conversion. Henceforth, they witness slow, or no closing of deals. However, automation of all these tasks helps the real estate industry to set their representatives free from all these customary and tedious tasks and allow them to focus their primary function i.e. to close a deal. Better communication Though communication is one of the most important components of every business, its importance increases by manifolds in the real estate industry. You need to be in constant touch with your prospective clients regarding their concerns, requirements, and needs. If there is a loophole in your real estate business communication then chances are bleak that you will enjoy a high number of a closed deal. Email is one of the most prominent ways to do business communication. Businesses prefer to comminute via email rather than phone as it is easy, quick and act as a proof communication has happened. Email automation helps a real estate industry to send bulk emails, set reminders to send a particular email to a particle client, sync all the contacts with the email and send automatic follow-up reminders to the agents. When you have such an advanced level of communication, your agents are going to close a deal easily, promptly and profitability than ever before. Great sale support system to the clients and the team If you want to witness a surge in your deal closing number then it is very important that you provide a great support sales support system for your sales team as well as to the customers. In the wake of technology, the AI has taken a new name and it is “Sales Bots”. A product of high-end integration, sales-bots are there to nurture your leads, remind the clients and the sales team about the pending deal, alerts the salespeople about every new lead, automatically create the follow-up task sequence and notify the prospective clients about the on-going discounts on their pending deals. Even sales-bots are so efficient that they create automatic deal of existing customers and notify them in prior. When your sales team and customer get such an extensive support system, closing a deal is easy as hassle-free. There is no second opinion that the real estate industry requires some extra efforts to generate revenue. However, a simple step of automation of the sales process makes a huge difference in all aspects. So, automate the sales process and take your real-estate business at new heights.
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