Investing in real estate is and has always been a smart investment. Real estate ownership offers both passive income as well as great potential for appreciation during the investor’s ownership. However, over the past two years, rental ownership has become increasingly popular, so competition has increased as well. As a result, properly marketing a residential rental property has become more critical than ever.
Professional rental property owners view resident turnover among the costs/responsibilities of managing an investment unit. To maximize the unit’s return, investors find it beneficial to educate themselves on the effective ways to market a vacant unit. The goal is to minimize vacancies by ensuring the property is leased quickly to a qualified resident. Creating an optimized and effective online rental listing is quickly done by following a few simple techniques.
Property managers understand that filling a rental vacancy with an ideal renter is often an arrangement worth its weight gold, one in which may even increase the potential value of a property. While every property manager or owner will likely have an ultimate objective of finding the ideal renter, the finite details of what defines an ideal renter may vary among professionals. However, there are a few commonalities most preferred renter’s possess.
When a vacancy arises in a rental property, professional property managers (or property owners who have chosen to go it alone) are tasked with the responsibility of replacing the lost resident –quickly, if they are to minimize the disruption to the investment property’s monthly cash flow.
The past few blogs we have been talking about how to keep your Redding & Chico rental properties filled by working on your selling skills. In this competitive market, you need to make sure that you’re using every competitive advantage to fill your vacancies. Developing your selling skills is a great way to get a leg up on the competition without spending any additional income.
We started this blog series with some basic selling skills. Here’s a recap: