A key area to focus your efforts and money is the curb appeal or attention that your properties convey to the potential residents who drive by. Statistics have shown over and over that the majority of residents who rent apartments or homes do so because they liked what they saw when they drove by. Less than 20% were attracted by paid advertising.
All of your unique and creative vacancy filling ideas really can’t help you very much if the outside of your property is unattractive.
Priority number two is making it easy for people to know about your home. Otherwise known as marketing. Do some research for your area and find how and where people are looking for homes. Trust me when I say that every area is different. Not everyone uses Craigslist. Locate at least 5 different online sources to market your home on. Call a local property management company and ask them for advice or feedback. Do not use print media. It’s too expensive and slow. Stay online. Post everyday or as often as you can by changing headlines, content, and account numbers. Forget about just posting on the busiest days. Market the home every day. Be sure the yard sign stands out and it is easy to read. Remember that 55% of people drive by the home. You must and I repeat must drive by the property every three days to ensure it is locked and the yard signs are up. Be sure to answer the phone when it rings. Many people use automated voicemail services allowing the potential resident to get information without you having to give the information over and over again. While this is convenient, many full-time rental management companies and investors are answering their calls.
Make it accessible and convenient for people to see. Be sure to have all information about the home and requirements for renting the property in plain sight.
Last, but not least, make it comparable to the other homes in the area. Please do not base your rental amount on your monthly mortgage payment. One has nothing to do with the other. Scan the online sites and drive the surrounding neighborhoods. About a 3 square mile radius is about the limit depending on population. Currently, we are in a great rental market.
If you currently have a vacancy or a home or apartment coming available, use this as a blueprint to get the property rented as quickly as possible. Your bank account will appreciate it.
4th Avenue Property Management is a property management company in Gwinnett County, Georgia. We offer Property Management Services specializing in rental property management in Lawrenceville, Buford, Braselton, Hoschton, Duluth, Suwanee, Sugar Hill, and Dacula Georgia. If you are currently selling or renting a home, give us a call for a solution to your real estate needs.