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.
While void periods are inevitable, their length and negative impact can be minimized. This requires a two-pronged approach: looking after your current tenants and continually marketing your properties. The latter's meant to attract prospective renters on a proactive basis.
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.
The larger percentage of today's renters go online to look for housing. What's more, the internet provides plenty of free ways to promote your properties. Combining these two brings out the obvious need to post your listings in multiple platforms. To give yourself the best shot at success, make sure to:
Write Enticing Marketing Copy: The goal here is to appeal to people through the written word. With that in mind, you want to choose phrases that will draw attention and paint the right picture in people's minds. Just try to avoid going overboard while you're at it. As for what to say, you can't go wrong by showcasing the features that make your units stand out from the rest.
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.
Word-of-mouth is one of the oldest, yet still highly effective real estate marketing tools. Leveraging your tenants' networks can keep you supplied with prospects, more so if you reward their efforts. Your options here range from offering a finder's fee or just a discount on one's rent. Either way, it's a small investment to make with a potential large payoff.
While void periods are inevitable, their length and negative impact can be minimized. This requires a two-pronged approach: looking after your current tenants and continually marketing your properties. The latter's meant to attract prospective renters on a proactive basis.
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.
The larger percentage of today's renters go online to look for housing. What's more, the internet provides plenty of free ways to promote your properties. Combining these two brings out the obvious need to post your listings in multiple platforms. To give yourself the best shot at success, make sure to:
Write Enticing Marketing Copy: The goal here is to appeal to people through the written word. With that in mind, you want to choose phrases that will draw attention and paint the right picture in people's minds. Just try to avoid going overboard while you're at it. As for what to say, you can't go wrong by showcasing the features that make your units stand out from the rest.
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.
Word-of-mouth is one of the oldest, yet still highly effective real estate marketing tools. Leveraging your tenants' networks can keep you supplied with prospects, more so if you reward their efforts. Your options here range from offering a finder's fee or just a discount on one's rent. Either way, it's a small investment to make with a potential large payoff.
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