Are you worried about vacant units becoming a burdensome expense? About 6.5% of rentals across the US are vacant. Without targeted rental leasing, vacancies could cost you thousands in revenue.
Instead, use these tips to start leasing properties and improving your occupancy rate. Watch your ROI rise today!
Keep Finding Tenants
Maintain a strong online presence to continue finding tenants throughout the year. Effective property marketing strategies include:
- Staging and cleaning your properties
- Hiring a real estate photographer
- Content marketing
- Video and virtual tours
- Search engine optimization
- Paid advertising
- Social media marketing
- Email marketing
Optimize your rental listings to make them more attractive to local renters. For example, you can use compelling language to draw them in. Provide a detailed description of the rental to help them fall in love with the property.
While using these property marketing strategies, personalize. Appeal to a specific target audience to attract Phoenix renters.
For example, perhaps your rentals are near office parks, public schools, or a college campus. You can appeal to business professionals, parents, or college students to find tenants.
Screen Applicants
Before you start leasing properties, develop a tenant screening process. Screening applicants will ensure you find trustworthy renters. These renters will pay on time and respect your rules.
Otherwise, you may choose a renter who will:
- Damage the property
- Upset neighbors
- Conduct illegal activity
- Sublet the property
- Pay rent late
Save time and money by outsourcing. A property management company will help you select great renters. They'll adhere to tenant screening laws to ensure you avoid lawsuits and fines.
Generate Renewals
Encourage your current renters to renew their leases. This will improve your vacancy rates and allow you to save money. You won't need to dedicate resources to property marketing and tenant screening.
To encourage lease renewals:
- Communicate with renters
- Complete property maintenance
- Offer incentives
- Update the rental property
- Avoid high rent spikes
Communicating with renters will improve tenant satisfaction rates. You can show tenants you care and want them to stay.
Use an online tenant portal to communicate with renters. Complete their maintenance requests promptly. This will help you protect the property and improve tenant satisfaction rates.
Request Lease Management Services
You don't have to apply these lease management tips alone. Instead, consider hiring a property manager. A full-service property management company can help with:
- Property marketing
- Tenant screening
- Rent collection
- Tenant relations
- Evictions
- Property inspections and maintenance
They'll meet and exceed your tenants' expectations. As satisfaction rates improve, you can generate more renewals. Applying their rental leasing strategies can ensure your success.
Leverage These Rental Leasing Tips Today
Apply these effective rental leasing techniques to find and retain renters. Remember, you don't have to worry about leasing management alone. Instead, consider partnering with a property management company.
Our team at Real Property Management Phoenix Valley has over 25 years of local management experience. We manage over 2,000 properties valleywide.
Trust our seasoned professionals, 88% retention rate, and reliable services. We'll help reduce your turnover and vacancy costs. Contact us today for your free, no-obligation rental analysis!
