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

Comments(6)

  • bgrossnickle7th November, 2005

    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

  • d_random7th November, 2005

    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.

  • jimandlacy7th November, 2005

    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

  • monkfish7th November, 2005

    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.
    [addsig]

  • mikejaquish7th November, 2005

    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.
    [addsig]

  • dakerrian9th November, 2005

    Curb appeal, make sure the lawn looks well manicured. It really makes a difference

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