Property management has to be ready with their marketing strategy all through the year, as units can become vacant any time. Even though there are certain months when fewer people tend to move, it is always marvelous to have in hand different techniques to attract new people quickly.
No sure-fire technique that can always work, and hence methods have to be updated according to market situation and general outlook. The best approach is to minimize vacancies by having courteous staff and prompt services; however, even with long-term tenants, there are chances of vacancies.
Many property managers cast a wide net by using variety of techniques and media, with the hope that one will be successful. However, this can work out quite costly, and there is no guarantee of finding tenants when vacancies arise. Here are some techniques that do not cost much and work most of the time.
The Waiting List Program
Create a program, where prospects are prompted to leave their contact information, so that they can be notified of future vacancies. A small gift or some rebate would be a sparkling incentive for people to leave their name and contact info. Once you have a few names on your waiting list, it would be a prudent idea to prescreen these people, so that you are sure of contacting the best prospects when vacancies arise. Select applicants with positive reputations and appealing credit scores, and you will be assured of fine tenants for the most part.
The Referrals Program
If you have managed to build outstanding relationships with the current residents, then make a list of the most reliable tenants. Ask these tenants, if they would like to recommend the community to someone, they know. People, usually like to have their friends, acquaintances, relations, co-workers, and colleagues as their neighbors. Secondly, tenants will feel appreciated when you have given them the chance to bring in referrals. When such a referral becomes a tenant, then it would make sense to reward the tenant who provided you with the referral.
Spruce Up the Property
Prospects who are looking around for rentals should immediately want to rent a unit on the property when they physically inspect it. This is the best way to attract prospects and build the reputation of the property. Here are some important points for improving units that prospects will find hard to resist:
- Make sure the units smell pleasant, since that is the first impression prospects usually register when they enter a unit. Use a mild freshener with a homely fragrance. Strong scents will not only seem artificial but they might also seem offensive.
- Make sure the unit is sanitized and sparkling clean, especially the kitchen and bathrooms. Discolored grouting and caulking, leaking faucets, and peeling paint creates a sorry impression of the unit, so do your best to keep the property sparkling. After the previous tenant has vacated, conduct a thorough inspection of the kitchen, look for damage, stains, and burn marks, and rectify any issues that are apparent. You should have an electrician, plumber, painter, and so on whom you work with