When you are renting a home in the middle of winter there are several things you need to remember. Since we are renting homes year-round as part of our extensive Highlands Ranch property management portfolio, we have become uniquely in tune with some tips to ease the process towards the finish line. There are always some factors you simply cannot change. This is anything to do with the property itself, like location, or proximity to a busy street to available parking or not. What you need to do is take the factors you can control into your own hands and go from there.
The first thing you can always control is price. This is the engine that drives the rental market. To land on a price that someone qualified can simply not turn down will get you to the end zone much quicker. This is not to say that you must drop well below your threshold. You just need to consider starting lower where you believe it should be, or starting at a higher number and aggressively dropping the price and correcting in the face of the feedback and showing traffic. Holding out for an extra $50.00 a month is a losing proposition when up against a potential month’s vacancy.
The second thing you need to do is distinguish your listing from others. The property should be clean and ready to go for showings, with nothing out of line in case someone is ready to move quickly. Your pictures should be better than the immediate listings in your vicinity. Take good photos with great lighting, or get a professional photo shoot and keep the photos for all future listings. You can also add a rental incentive off the first month’s rent to set your listing ahead of the pack. This is usually a number between $250 and $500. When people see that, they realize that getting in the door will be much cheaper than any similarly priced listing. Employ these techniques and you can bridge the gap between winter slow down and longer vacancies.
If you are in the mood for some Highlands Ranch property management, please give us a call today. We would be happy to lead you down the road to success.
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