Be careful of the quick fix rental incentive, especially when you are in a competitive market.  It can be easy to quickly reduce rent, security deposit and offer discounts, however it is important that these incentives don’t compromise your integrity or give mixed messages.

If you have a beautiful, modern, fully renovated suite – why offer a reduced rent or security deposit – does this not defeat the purpose of the type of rental you are offering and tenant you are looking for?

Instead think of specific incentives that attract the type of tenant you looking for:

Offer these incentives for completing the application and deposit right away!

 Some rewards already exist within your property – Market your existing features!

I am very cautious on incentives that may give the impression that the money side of the rental contract is not important:

Reward incentives attached to the lease of course are completely withdrawn if there any late payments or issues during the term.

Think twice before offering a rental incentive.  These can be great marketing tools, but don’t let them take control and jeopardize your rental business strategy! Use them to your advantage to match the right tenant to your property!

For more information tips or tricks please contact us we are happy to share our ideas!

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