Tips for Renting in a Difficult Market

Are Vacancies Getting You Down? Not Enough Inquiries? Or Showings and No Applications?

What can you or your property manager do to help rent your suite?

  1. Pre-qualification: On the spot questionnaire for instant approval
  2. Incentives: Be cautious read my previous blog if you haven’t here; Additionally rent deferral programs work very well and you are covered in the event of any issues
  3. Maintenance tips: increase curb appeal – what does your front door look like? Yard work now that it is spring, have suites professionally cleaned and well maintained
  4. Marketing: Professional pictures really sparkle, advertise your features, and advertise a lot! Targeted advertising to the tenant that wants to live in your suite – do your research!
  5. Communication: What is your value add – why rent from you and not someone else? What do you have to offer a tenant that’s unique?

I have lots of viewings but it is not renting?

  • This is generally a sign that your value is not in line with your price – people are coming to view, but are not feeling that the value matches your price

I am just not getting any requests?

  • This is generally a sign that your price is out of line with the market

TO DO: Review your market comparables – what are you missing? Is your price out of line with the market?

Even in a competitive market I am still renting many units.  Make sure you are presenting yourself, your property and features accurately.

 Have fun –  Be friendly and cheerful; treats work too – so bring donuts or other goodies along to your viewings!

Contact me for tips to help your property stand out from the crowd!

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