Hi,
I was just wondering if anyone can give me some more hints on how to attract new tenants? I have 2 vacant units out of 5 and it has been vacant for a couple of months now. I spoke to the managing agent, and they give me the usual run-around saying that ppl have been to see the property and that some arn’t suitable.. but they can be making it up.
I am tempted to copy the keys to give to another agent to see if they can find any, however, this agent is looking after the other three and is sort of contracted to look after the whole block.
How about I offer a weeks free rent?
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Tomorrow, you might wish you started today.
#####################Hi Angie,
If what you’re doing isn’t having the desired result (and it isn’t) then it would be worth changing what you’re doing.
Given there are 2 vacant, & they’ve been vacant for a while, then obvious questions occur, like: is the property attractive? Is it clean, does it have reasonable facilities, are there maintenance things that need doing, is there anything you can do internally like painting/fixing/a bit of spiffing up that could make it nicer?
Try another agent? Give keys elsewhere? The current results speak for themselves, so I certainly would – a couple of months of vacancy is simply too long.
Hey Angie,
Why don’t you offer free movie tickets (book of 10) or free gym membership. Maybe a voucher to the local bottle shop or video store…. Try adding some value that isn’t property related as a bonus move in gift. It may get people interested if you put a sign up in the front yard with your offer on it….I have no doubt that you will be flooded with calls. eg. Free DVD player ??? After all they only cost $150ish nowadays. If it means a few weeks rent then at least you have it rented. Also if you do value add try increasing your rent $5 a week to cover the cost of the appliance /offer. People love getting something for nothing even if it costs them more in the long run.
Hope this helps.Enjoy
AD [:0)]“A successful person is one who can lay a firm foundation with the bricks that others throw at him.”
-David BrinkIn response to Jane B, the units are in quite good condition, as they are sort of newly renovated. I asked the agent if any other maintenance is required to attract tenants, like lower rent for more fix-ups, and they said no. I guess I will put out the offer of one free weeks rent and then see what happens. Otherwise, I think that you are right, I need a new agent!
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Tomorrow, you might wish you started today.
#####################That’s an excellant suggestion AD. I happen to have a bf who owns an electrical store so I can get some electrical stuff for cheap. (If anyone else wants some cheap electrical stuff, email me [
]. And it will be tax deductable (no?) I will try that.#####################
Tomorrow, you might wish you started today.
#####################Awesome angie…..that is great news. The key though is to advertise the bonus and the rent just happens. Rmemebr to cover yourself cost wise as I think you will be pleasently surprised. Nice big sign in the front yard with the bonus…..Be interested to see how it goes.
Enjoy
AD [:0)]“A successful person is one who can lay a firm foundation with the bricks that others throw at him.”
-David Brinkhi angie
did you try dvd player if so how did it go and how long did it take to get a tenant
Thanks Rob[8D]
angie..Try offering the other tenants something for free..you never know thay may know somebody that is looking…
Davlyn..All can see the tactics by which I concur,none can see the strategies out of which victory has evolved…
Hi Angie,
I can confirm that what AD says about Movie Tickets works.
Had a Unit vacant for 2 months – couldn’t get tenants – Agent giving the run-around.
Then offered Free Movie Tickets and had tenants signed up 3 days later.
Something free certainly produces a win-win.Angie
Lateral thinking is really a logical way out of a sticky situation. There is more than one way to skin a cat!. Be imaginative and calculate your outgoings to off set loss by using a rent increase. It is a sunk cost, but picked up in the long run by the tennant…. who in the end is a happy customer. Great thinking
Mark
]. And it will be tax deductable (no?) I will try that.
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