It is not possible for property management to meet every requirement of what a prospect might be looking for in a home or place to live. Location, aesthetics, and personal preferences, all play a role, but it may not be so for all renters. However, to keep the vacancy rate to the minimum, property management must make sure that the property is free of these major flaws.
This is number one reason for prospects to select some other property, especially when features do not match up to the rent being charged. Even if there are other properties in the area charging the same rent, make sure your property has all the features the exist on the other properties.
It is also critical to factor in aesthetics and the age of the structure. It is possible to demand higher rents if the property is on a prime spot, but features should also be able to match up with other neighboring properties. It may not be possible to decrease rent; however, property management will have to provide some service or features that could justify the high cost.
Clutter and Dirt
Apart from high rent, this is another major reason for prospects to reject a property. The common areas might be kept very clean, but if there is clutter, the whole place will look shabby. Property management should have strict policies against clutter, and they should be enforced even if it means losing a few tenants who repeatedly disobey rules against clutter.
The same rules should be followed in the office as well, since the prospect will be coming to the office to discuss and settle the lease. There are certain things that particularly are quite disgusting for most renters. Topping the list is dog waste in the lawn or garden area, and accumulation of garbage bags that have not been cleared or picked up by the trash company. Peeling paint, poor lighting, and unmaintained landscape also create a pathetic and lowly impression.
Bad Odors and Noise
Apart from sight, the sense of smell and hearing are also very active in people. Most renters are particularly sensitive to loud noises and would not want to rent in a property where there is excessive partying, brawls, and unruly children playing around. Property management should have strict policies and enforce rules to keep these things in check. Bad odors can also diminish the value of the property in the eyes of a renter, even if the place is kept spotlessly clean. Strong pet odors and cigarette smoke are very disturbing and can ruin the chances of obtaining tremendous tenants.
Malfunctioning appliances and equipment are other major reasons for renters to reject properties. Even when the unit has excellent tiles and furniture, malfunctioning appliances, or plumbing can ruin the deal. While inspecting the unit most prospects will turn on switches and faucets to see if things are working. Flickering lights, leaky faucets, malfunctioning heaters or coolers create a terrible impression and this will paint a terrible impressive to any would be renters. Word spreads pretty quickly in situations like this.