At rhenti, we know that your number one goal as a rental Property Owner is to keep your condos and apartments occupied. We’ve noticed that this seems to be particularly true in the fall.
This is because the upcoming winter months are considered to be slow in the real estate industry. This means that there are usually fewer people looking to rent out apartments and condos. Additionally, many of the Renters that are looking for a living space in the winter are often expecting to find a deal.
We don’t want you to have to drop your rental rates at any point in the year, as it can put a huge dent in your annual profits and this is why you need to find conscientious tenants for your apartment this fall. If you need some advice on how to keep your rental properties occupied, then make sure that you check out these useful tips.
1 – Pricing is the Key to Success
Anyone worth their salt in the real estate industry knows that pricing is an extremely important factor, particularly when it comes to renting. Charging too much or too little can have a huge impact on your overall revenue, so, if you want to learn how to stabilize rental property profits, then you have to learn how to price your apartments and condos correctly.
There are lots of ways that you can determine how much rent you should charge. Some tried-and-true techniques are:
- Compare your property with similar living spaces nearby.
- Ask your friends or family members for suggestions.
- Read blogs online (like this one!).
- Set up a meeting with a real estate expert like a rent manager.
If you don’t have the time for these methods, you should get in contact with our team at rhenti. We are a rental real estate matching company that provides a wide range of services for both Property Owners and Renters.
One of the useful services that we offer is price guidance. Our team will visit your properties and use their expertise to determine exactly how much you should charge potential Renters. By partnering up with rhenti, you’ll never lose a penny because of over- or undercharging.
2 – Thoroughly Vet Potential Renters
After being a rental Property Owner for a handful of years, you will eventually develop several techniques and learn how to minimize rental property risk and one of the best techniques for minimizing risk is thoroughly vetting all of your prospective Renters. Doing this will give you a better idea of who you are about to rent your property to.
When vetting a potential Renter, you should start by verifying their employment information, references and credit score. This will ensure that they have a clean rental history that can be trusted.
However, we know that being a rental Property Owner is a full-time job, and it can be difficult to find the time to vet every single person who shows interest in your apartments and condos. Not to mention, it can be difficult to obtain some of the information mentioned above.
This is why many rental Property Owners turn to rhenti when it comes to vetting. We offer an unbeatable vetting service which analyzes all of the credentials mentioned above and more! This means that you can find exceptional Renters that will be a pleasure to work with.
3 – Beautify Your Properties
At rhenti, we know that one of the most effective solutions for filling vacant properties is giving them a makeover. After standing for decades, most condos and apartments need some love and care. Be sure to deal with both the exterior and interior of the property.
i) – Exterior Maintenance
If you want to make a good first impression on potential Renters, you need to improve the curb appeal of the living space. To do this, you need to keep the exterior of your property clean, tidy and free of obstructions.
During the fall, you need to ensure that the leaves are raked and that dead or dying plants are removed. It is also important that the lawn is consistently trimmed and free of weeds.
Many rental Property Owners don’t have time to take care of these tasks by themselves, so they will hire a third-party business, like a property management company, to deal with the apartment or condo management issues.
ii) – Interior Touch-Ups
During the fall, there are lots of ways that you can make the interior of any rental property pop. Firstly, be sure to keep all of the blinds or curtains open in the daytime, as this will let bright light in and keep the living space as warm as possible.
If you love the fall as much as we do, we suggest that you add a handful of fall-themed decorations around the apartment or condo. Feel free to spruce up the space with items like seasonal fruit bowls, flowers and candles. Although, if you decide to do this, make sure that you don’t go overboard with the decorations, as this can make the area look kitsch and cluttered.
Before each viewing, make sure that the living space has been vacuumed and thoroughly cleaned.
This will make the area look professional, inviting and enticing to potential Renters.
Once your rental properties look their best, be sure to let us know. We’ll send over one of our professional photographers to take stunning snaps of the space. These photos will be shared on popular real estate platforms like MLS. This means that our team of pros can help you show off the very best aspects of your rental properties.
At rhenti, we want all rental Property Owners to be successful in their real estate endeavours. However, we also know that success is impossible to achieve if your rental properties are sitting unoccupied. If you want to ensure that all of your condos and apartments are constantly filled with Renters, you need to use these helpful tips this fall.