How Property Managers Fill Vacancies

 

In order to fill your vacancies, you first need to know what renters want. That list can vary widely based on the type of rental property you have. Renters moving into an apartment will have different ‘wants’ then those moving into a single-family home.

Longer Term Renters

For those who are longer term renters, they may want to be near school or work, coffee shops, restaurants, work out facilities, parks etc.

Job Renters

If your renters are relocating (even temporarily) for work, they may have different wants. For example, in addition to the long-term renters wants, they may also want to be close to an airport and transportation services.

Depending on the area of your properties, you may want to include information about some of these ‘wants’ in your advertising copy. For example, if you are close to an airport but have not thought about corporate leases, include the fact that airports are just 10 minutes away.

Furnished Properties

Furnishing your properties can be a very lucrative option and ultimately increase your bottom line. If your properties are more prone to corporate or business tenants, you should seriously consider providing turn key properties. If you have multiple properties and are uncertain of the feasibility, why don’t you furnish one property and advertise accordingly. Set the rent comparable to your area for furnished units. You will know soon enough the amount of interested parties. If you don’t want to purchase furniture, you can work out a deal with a local rental store, first to give you 1 month free (while you advertise) then a discount if you use them for your other properties.

Energy Efficient

As more and more people become conscious of the environment, having an energy efficient property makes good sense. This is generally easy to do however if your properties are older and have not been updated, the cost can be significant.

Check items such as your:

  • Windows
  • Lighting (LEDs, compact fluorescent)
  • Door seals
  • Attic insulation
  • Low flow toilets
  • Shower heads
  • Programmable thermostats
  • Maybe even solar panels
What all Renters Want

Just about everyone wants modern technology. This includes:

· Ability to apply online

About PropertyZar

PropertyZar is a real estate technology company specifically in the web-based property management software for owners and professional property managers. Read more Top Property Management Blogs. Learn more www.PropertyZar.com

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