Tips to get your slow-moving rental property RENTED!!
If you’re a landlord and your rental property that’s not moving or not getting much action, here are some steps you can take. Don’t hold out for an extra $100 per month but end up losing three months of rent (let’s say $3000 if your home rents for $1000 per month). Here’s what you should do:
- Evaluate price – If you’re overpriced the house will sit. Be sure you’re looking at the average price in the area for comparable properties as well as what your active competition is charging.
- Evaluate the condition – If the property is in rough shape (not move-in ready), dead bugs everywhere (common with vacant properties), dirty, overgrown yard, etc. this will be a turn off for many potential tenants and reduces the quality of tenant you get as well as the price at which you can rent it.
- Marketing/Web Presence – Is your listing all of the Internet? Are you using social media? 90% of people start their search for a home online Web presence is key!
- Availability – Potential tenants want someone that’s responsive! How you respond while it’s listed? Is it quick or are you responding in a few days? If a few days this will cause you to lose tenants. If you have a management, make sure they are responding to potential tenants.
If you have questions or would like to learn more about how we can help you reach 100% occupancy feel free to call us at 817-462-0303.