PropertyManagementMaven: May 2012

5 Questions to Consider if You’re Having Trouble Filling a Vacancy * Add Floor Plans

Having property floor plans is KEY!  I started compiling floor plans almost a decade ago and have all of my rental listings featured with floor plans so that rental prospects can see the layout of the property.

5 Questions to Consider if You’re Having Trouble Filling a Vacancy

When you need to rent your property, every month it sits empty can be stressful. Not only that, it can be confusing: Why haven’t you been able to close the deal and get your place rented? If prospective tenants aren’t coming to you, don’t despair. Instead, think strategically. Here are a few questions you can ask to help determine what’s gone wrong.

  1. Should you reconsider your target market? Changing your target tenant can open the door to a new set of possibilities. Take an inventory of all of the features of your property. Who is likely to find the entire package most appealing? Stepping back and reassessing your strengths might entirely change your marketing strategy.
  2. Are you advertising in the right places?That’s right, the same rule tenants use applies to landlords, too. If you don’t look for renters in the right places, you won’t be able to find the right people for your home. Think about where you post advertisements for the vacancy. Do the types of tenants you're interested in spend time there?
  3. Are you making the most of your unit’s features? Are you looking to rent to students? Play up the property’s proximity to a college. Trying to rent to families? Don’t forget to mention nearby parks, schools and shopping centers. Even the basic amenities of the home, like a dishwasher, one or more parking spaces, or laundry facilities, are perks you can use to your advantage.
  4. Are your online ads appealing? Online advertising is one of the easiest ways to put your home out there for potential tenants, whether they’re families, students, or executives. When building your online ad, take well-lit pictures in every room, provide detailed information about the house’s age and condition, and be clear about the price of extras like utilities and maintenance fees.
  5. Are you making it easy to apply? Consider giving prospective tenants the ability to submit a rental application online. It’s convenient, it’s easy, and it gives people anywhere in the world the opportunity to compete for your space. You’ll be surprised how much of a difference it makes.

Zach Devine, Marketing

RentApp.com (A Service of AppFolio)

 

 Wallace S. Gibson, CPM * GIBSON MANAGEMENT GROUP, Ltd.

LandlordWhisperer

View our available Charlottesville, Albemarle and Lake Monticello rental homes online with photos and floor plans


"...to be a Virginian, either by Birth, Marriage, Adoption, or even on one's Mother's side, is an Introduction to any State in the Union, a Passport to any Foreign Country, and a Benediction from the Almighty God...." Anonymous

 

Comment balloon 4 commentsWallace S. Gibson, CPM • May 30 2012 05:21AM
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