Creative Ideas to get Property Rented!

As anyone who has invested in real estate can tell you, it’s a dog eat dog world out there. It doesn’t matter if you are trying to rent out a single family home or if you own a large apartment building, the competition is fierce and in the right economic circumstances, it can get downright nasty. But there are some things that have been proven to work to attract renters by the hundreds. Let’s take a closer look.The first thing you need to do is to gauge the local real estate market and how much inventory is available. If the market is completely saturated and there is tons of inventory available then you’re going to need to get creative when it comes to attracting new renters. But if the market is tight, you probably won’t need to do anything more than place a simple ad in the newspaper and you’ll have renters flocking to you. You can gauge how clever you’ll have to be depending on the state of the local market.They say that the quickest way to a man’s heart is through his stomach. That’s why a big, old-fashioned barbeque is one of the best ways to attract people of all kinds to your property. A small ad in the local paper followed by some flyers that can be mailed out or slid under doors advertising your open house and BBQ are a great way to attract people that might not have noticed your property otherwise. On the down side, you’re bound to get a number of people that are only there for the food and are not serious about renting from you, but you have to take the good with the bad.Another good way to use clever marketing is simply offer something that no other property in your area does. If at all possible, you can make a comprehensive list of every amenity that surrounding buildings in a 5-square mile radius offer and then make a second list of amenities that are affordable that you could add, and from then on, push that one thing to the forefront of your advertising. One of the most desired amenities these days in a wireless Internet connection free throughout the entire building. Many businesses like coffee shops and most hotels offer this and it costs surprisingly little to set up and maintain. You’ll also appeal to a higher-end clientele who would need an Internet connection on a daily basis for work.One final clever idea you can implement is to have bonuses for signing a lease. Assuming you can afford it, you can offer to pay one month of a renters utilities as a “signing bonus” for signing a one-year lease with you. Some buildings offer a month of free rent as an incentive to move there.There are a million more clever and unique ways to attract tenants to your building. The key is to think them through before you do them and don’t do anything that you might regret.

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