Looking For Suggestions On Making My SFR More Appealing To Prospective Renters
Hi all,
I just closed escrow on a SFR in a nice subdivision in the Antioch area outside of Nashville. Unfortunately so did about five other investors. Now we are all competing to rent out our houses. Fortunately I am one of two larger units.
I have been in this situation before and I am afraid to cut my monthly rental price too much as this may force rents in the area to slide.
Can I get some suggestions on enticing prospective renters to choose my unit over others? What can I do other than offer a free months rent or drop the asking price? What have you done when in similar situations?
Thanks for your responses, Brian
I usually have a move in special of 1/2 off the third month rent - for right when those xmas bills are coming due. Or, you could give a $200 Christmas bonus.
Brenda
Landscaping. You never get a second chance to make a first impression. Some people make up their minds that they are going to lease a place even before they step in the door based on a favorable outside appearance.
I agree with Mike. Offer to pay some fixed expense for a period of time. Lawncare, basic cable, basic phone. Lawncare is a great win/win because it helps you and the tenant.
Jim
During a recent dry spell, a offered new tenants free TiVo service.
http://www.tivo.com/0.0.asp
I bought the TiVo DVR for $50 and their monthly service only costs $13.
My tenants love it.
Good Luck.
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Quote:
On 2005-11-07 15:51, d_random wrote:
Landscaping. You never get a second chance to make a first impression. Some people make up their minds that they are going to lease a place even before they step in the door based on a favorable outside appearance.
Good point.
I see lots of "For Rent" rentals that look completely untended. If the outside looks that bad, the inside is probably worse, IMO.
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Curb appeal, make sure the lawn looks well manicured. It really makes a difference