Add Revenue to Your Rental Property

With the housing market at bargain rates it may be hard to keep your rental units full of good tenants, but by using some of the following tricks you can increase the revenue you’re getting for your property.

The Best Rental

The key to remember is that if someone perceives something to be of quality and value they’re more likely to buy that product or rent that apartment. You need to be proactive and put yourself out there as the leader in quality, appearance, and service and let people know that your property is the preferred brand, even if it isn’t.

Curb Appeal

Curb appeal is key, especially if you’re trying to get new tenants. You’ve already put yourself out there as the best place to live, so now you’ve got to prove it from the surface. Maybe you can’t tell the book by the cover, but I’ll bet you’ve bought a lot of books simply based on the front cover image and the blurb on the back cover.

Point out Benefits

You’ve spent a lot of time and possibly money making sure people know your rentals are superior to the others on the market, so keep driving that point home. Create an attractive handout that the tenants can refer to throughout their tour and after they’ve gone home which has highlights mentioned and even photographs. But reemphasize that with note cards throughout the apartment so the prospective tenant has an actual memory of the feature that is tied to the handout.

Hit the Senses

Sure you’ll make the apartment look good to prospective renters, but try to hit some of the other senses as well. Play background music, if it’s slower than the standard heart rate people will “shop” slower and be more likely to buy rather than rush through. Create a scent that is not only comforting but one that hits the taste sense also. I.E. chocolate chip cookies. Back some in the unit you’re trying to rent and leave them out for guests to snack on, there’s nothing like comfort food to make people feel at home.