5 Things Landlords Can Do to Attract Renters
You are a property manager or a landlord and you’ve just put a unit up for rent. What’s the “cool” factor that’s driving renters to contact you? Prospective tenants don’t just appear; you need to draw them in. There’s more to writing and marketing a rental listing than counting off the number of bedrooms and bathrooms. Appeal to renters by getting creative with deals and offers. Here are 5 strategies to attract renters to your properties.
1. Offer free high-speed Internet with rent.
Contacting and setting up Internet service during a move-in is annoying. And why do five units within 30 feet of each other all need a different router and password? Appeal to renters by cutting down on the hassle — include Internet in the rent. Additional plus side: appeal to professional and Generation Y renters who thrive on being connected.
2. Provide cable TV service.
Yet another annoying-to-buy-but-nice-to-have amenity is cable television. By including a subscription, you’ll appeal to the prime-time, sports, or soap-opera loving renters who just don’t want to bother with opening, closing, and transferring their accounts each year. Your complex may not have the most modern updates, but there’s something to be said for all-you-can-watch television.
3. Include complimentary tanning.
Pools and gyms are a thing of yesteryear. Your property will really stick out by offering amenities few complexes can brag about. On the bright side (no pun intended), your tenants will promote a tanning bed-induced glow even through the darkest days of winter.
4. Offer free public transportation.
The morning commute is a drag, and expensive gas prices just make it worse. A great environmentally-friendly way to attract renters – especially those without cars – is to have a free transportation system that will ferry renters to and from your city’s transit hub each day. If you’re located in an urban area or hiring a transportation system isn’t in your budget, offer a month’s pass for your city’s subway or bus transit system.
5. Give 1 month’s rent for free.
When free Internet, cable, and tanning are just not cutting it for renters, you can always revert back to the tried-and-true 1 month of rent. Such a deal can help you fill your vacancy faster, and save you from paying maintenance, insurance, and utility costs on an empty unit for months on end. After all, who in their right mind would turn down saving a few hundred bucks on rent?
An offer that gives renters an added convenience will not only encourage them to respond to the listing, but also motivate them to stay with you once they’re tenants. What are some strategies that you’ve used to attract tenants? Share with us by dropping a comment!
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