In an ideal world, a tenant will give you 30 days’ notice when he or she plans to move. In this best case scenario, you have sufficient time to properly market the property for new tenants. As any landlord knows, furnished apartments Mississauga that sit vacant for too long will eat up profits. Moreover, when you do not have rent coming into your business, you cannot pay your bills. By following the tips below, you can ensure that your unit will not sit vacant for too long.
1. Make Sure the Rental Unit Is Set at the Right Price
Before you begin any marketing efforts in earnest, you need to make sure that the rental unit is set at the right price. Therefore, the rent that is being charged should coincide with the other rental prices in your community. Rather than guessing at the amount, review your competition’s listings.
Talk to real estate professionals. Visit the properties, if you have time, near your rental property. In order to attract tenants, you need to make sure that the rental price falls nicely in line with the other rental prices on the market. Why allow other units to fill up whilst you are charging a higher price?
2. To Maximize Marketing, Make Sure the Property Exudes Kerb Appeal
If you want to attract good tenants, you need to make sure that the rental unit is attractive. If the rental unit is occupied, you will need to do the following:
- Coordinate a time with the tenant for a move-out inspection as early as possible. Doing so will give you a better idea of what updates or repairs need to be made.
- Take photos of the property’s exterior.
- Create a list of the tasks that you need to accomplish to get the property in tip-top shape.
- Schedule maintenance and services on the day after the current occupant moves out.
By taking this approach, you can make the property is move-in ready only a few days after it is unoccupied.
3. Take Pictures of the Interior
Once the old tenants have moved out and you have made the needed updates and repairs, you can concentrate on taking pictures of the property’s interior. Photos of empty and clean units are normally more attractive to prospects than images that include another person’s belongings or furniture.
4. Write the Marketing Copy
Make sure the marketing copy you write is paired with attractive photos. List all the property’s features. Add obvious entries, such as the number of bathrooms and bedrooms and the size of the rental unit. Include the rental rate and deposit amounts, including the smoking or pet policies and your contact details and location. List the amenities, such as air conditioning, new carpeting, or laundry hookups.
5. Feature a Perk in the Marketing Content
Nothing makes a prospect stand up and take notice like seeing an incentive for renting. For example, you might want to advertise the unit with $100 off the first month’s rent.
Follow the above tips and you will find the right tenant at just the right time.