The adage 'time is money' is often dismissed as cliche, but less so in the context of rental realty. Nothing compares to the ability of void periods to threaten the potential of your condos for rent Woodstock GA. If you're struggling to relate, these are simply the breaks between tenancies when one of your units stops generating cash. Which of course means you're forced to cover its maintenance costs out-of-pocket.
Although they're a natural part of the tenancy process, void periods can be managed to mitigate their negative impact. On one hand, there's a lot you can do to charm your tenants into staying put for the long term. It'd also help to invest in an ongoing marketing strategy -- this'll help you generate prospective renters before you need them.
Like every journey has its own destination, marketing only works when targeted to the right audience. So take time to survey your neighborhoods, noting the demographic that dominates the population. A local realtor can also help you picture the kind of tenants you want to target. And if other factors allow, consider taking up a community role for an even closer examination.
Listing your properties online is a no-brainer -- this is after all where the majority of renters search for housing. Not to forget that most websites don't charge for local market classifieds. Feel free to take advantage of as many platforms as you can comfortably manage. To help you maximize your exposure, be sure to:
Develop High-Quality Listings: This is all about creating a picture that will motivate responses from prospective renters. With that in mind, you can't go wrong by highlighting the standout features of your units in your marketing copy. Also pay attention to your word choices. As a rule of thumb, you want to balance between being persuasive and straightforward with your descriptions.
Use Professional Photos: This is informed by the fact that pictures are usually the first thing people notice when they come across listings. It also helps to keep in mind that most of today's renters use mobile devices when looking for vacancies. So rather than risk selling yourself short, you're better off paying for the services of a professional photographer.
Use Social Media: People expect you to have an active social media presence, but how do you go about it? Start by creating accounts if you don't have them already. From there, it's up to you to figure out how to get enough people talking about your properties. Posting industry news along with advertisements may get the job done but, if you need a boost, try an influencer campaign.
As old as word-of-mouth may be, it's still one of the most powerful ways to market anything and everything in real estate. So do approach your tenants and let them know that you'll appreciate any leads they bring your way. Better yet, why not throw an incentive into the mix? This could be a discount on one's rent or a gift card -- either way, it'll make it that much easier to keep your units occupied.
Although they're a natural part of the tenancy process, void periods can be managed to mitigate their negative impact. On one hand, there's a lot you can do to charm your tenants into staying put for the long term. It'd also help to invest in an ongoing marketing strategy -- this'll help you generate prospective renters before you need them.
Like every journey has its own destination, marketing only works when targeted to the right audience. So take time to survey your neighborhoods, noting the demographic that dominates the population. A local realtor can also help you picture the kind of tenants you want to target. And if other factors allow, consider taking up a community role for an even closer examination.
Listing your properties online is a no-brainer -- this is after all where the majority of renters search for housing. Not to forget that most websites don't charge for local market classifieds. Feel free to take advantage of as many platforms as you can comfortably manage. To help you maximize your exposure, be sure to:
Develop High-Quality Listings: This is all about creating a picture that will motivate responses from prospective renters. With that in mind, you can't go wrong by highlighting the standout features of your units in your marketing copy. Also pay attention to your word choices. As a rule of thumb, you want to balance between being persuasive and straightforward with your descriptions.
Use Professional Photos: This is informed by the fact that pictures are usually the first thing people notice when they come across listings. It also helps to keep in mind that most of today's renters use mobile devices when looking for vacancies. So rather than risk selling yourself short, you're better off paying for the services of a professional photographer.
Use Social Media: People expect you to have an active social media presence, but how do you go about it? Start by creating accounts if you don't have them already. From there, it's up to you to figure out how to get enough people talking about your properties. Posting industry news along with advertisements may get the job done but, if you need a boost, try an influencer campaign.
As old as word-of-mouth may be, it's still one of the most powerful ways to market anything and everything in real estate. So do approach your tenants and let them know that you'll appreciate any leads they bring your way. Better yet, why not throw an incentive into the mix? This could be a discount on one's rent or a gift card -- either way, it'll make it that much easier to keep your units occupied.
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