The Zillow for Pros Blog Weekly Roundup – October 4, 2013
In this week’s most popular blog posts, learn what your best options are when updating older rental properties, and how you can save on energy costs by providing your residents with energy toolkits. See why utilitarian marketing will allow you to be heard, and why landlords’ ability to raise the rent is slowing tailing off.
Older rental properties have a lot of character, but they can also require a lot of work. Making updates to an older property also can work in your benefit by making your unit more competitive and desirable to renters.
Housing is a utility. People are always going to need a place to live, so your rental business has that going for it already – but how are you leveraging utility to market your availabilities?
When residents live below another floor, the click clack and pitter-patter of feet can get really annoying. Some residents will resort to complaining, especially if the downstairs residents can hear every footstep.
Sluggish wage growth and rising living costs have translated to slowed rent growth in many top rental markets. Increased new construction in these prime markets should be pushing rents up significantly, but a slow-recovering labor market is limiting how much landlords can realistically charge for housing.
It’s difficult to change your residents’ lifestyles, but you can make it a lot easier by providing the tools for them to get started. Stop telling your residents to conserve electric, water, and heat – give them the tools to actually do it in an energy efficiency kit.