Transferring Utilities When it comes to utilities, choosing what to cover and what to have your tenants pay is based on several factors ranging from the type of property you are managing (single, detached house? Multi-unit apartment complex?) to the age of your property and whether it has individual meters for every unit. For those utilities you’d like placed …
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Plumbing Basics for Landlords: Potable Drinking Water
As a real estate investor or property manager, you’ll be well served to understand your plumbing system responsibility and how to deal with and prevent piping problems. Most commonly, if an issue does arrive, it will have to do with the pipes taking water from your property. But it’s also important to understand the water that comes in. Let’s cover potable …
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How to Create a Rental Listing: The Basics
Landlords use listings to advertise their rental properties. If you’re unfamiliar, a rental listing is a short article that uses a catchy headline, professional pictures, and a detailed description of the vacancy to attract renters. Having an attention-grabbing listing allows you to be noticed by potential tenants. On average, you are competing with about 100 …
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Every Way to Market Your Rental Properties Online
All landlords should be marketing their rental properties online. This is simple. What’s more complex, however, is choosing the best method of online marketing for your rental business. The three primary types of online rental marketing are listing sites, social sites, and your company’s website. With each approach, there are three common factors to consider — price, …
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Use Audience Targeting to Fill Your Rentals
Audience targeting is a marketing strategy in which a marketing team pinpoints segments of their customer base to advertise a given product or service to. They choose to market to the segment whose demographics most value the features their product offers. This strategy is not specific to rental marketing, but it can be a successful …
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4 Ways to Market Your Rentals with Offline Marketing Strategies
Traditionally, landlords marketed their rental properties with exclusively offline materials and strategies. Before the internet, landlords were limited to local, small-scale resources, making it difficult to reach large pools of renters. They relied on newspapers, yard signs, local organizations, referrals, and other offline marketing approaches to get the word out about vacancies. Luckily, today’s landlords …
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Everything You Need to Know About Staging Your Rentals
Staging rental properties is a combination of cleaning and strategic decorating that encourages renters to develop a strong first impression of the property. It shows the rental in its best light so that renters are more appreciative of the positive aspects of the property, rather than focusing on some of its less attractive features. Many strategies …
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How to Perform the Perfect Rental Property Showing
A rental showing is a landlord’s first chance to meet interested renters in person. During showings, you’re able to walk prospective renters through the unit, hit all their sell points, and answer any questions renters might have. Few renters want to sign a lease without physically seeing the property, which makes rental showings a must. Showings come …
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Understanding Your Market to Increase Rent Price
The simplest, most effective way to increase your revenue is to increase the rent you charge. But increasing rent price can prove costly – fewer tenants will be interested and your property may lie vacant for longer than you’re comfortable. To increase rent price, it’s important that you first justify that increase. There are two ways to do it: …
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Adding Tenants to an Existing Lease
If you’re a landlord, you’re well aware of the importance of leases. They act as legal protection from everything that can (and will) go wrong during a rental term. As such, it is necessary for leases to be customized for each rental situation and updated as changes are made. There are plenty of reasons why a lease agreement might need …
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