Time costs money, and nowhere does this hold more truer than in real estate. Ever wondered why the time when one of your condos for rent Woodstock GA is unoccupied is known as a void period? It's simply because it nullifies profits -- not only do your earnings take a dive when a unit is vacated, but you're also forced to foot its maintenance bill.
Although they're a natural part of the tenancy process, void periods can be managed to mitigate their negative impact. On one hand, there's a lot you can do to charm your tenants into staying put for the long term. It'd also help to invest in an ongoing marketing strategy -- this'll help you generate prospective renters before you need them.
Like every journey has its own destination, marketing only works when targeted to the right audience. So take time to survey your neighborhoods, noting the demographic that dominates the population. A local realtor can also help you picture the kind of tenants you want to target. And if other factors allow, consider taking up a community role for an even closer examination.
The larger percentage of today's renters go online to look for housing. What's more, the internet provides plenty of free ways to promote your properties. Combining these two brings out the obvious need to post your listings in multiple platforms. To give yourself the best shot at success, make sure to:
Write Enticing Marketing Copy: The goal here is to appeal to people through the written word. With that in mind, you want to choose phrases that will draw attention and paint the right picture in people's minds. Just try to avoid going overboard while you're at it. As for what to say, you can't go wrong by showcasing the features that make your units stand out from the rest.
Use Professional Photos: This is informed by the fact that pictures are usually the first thing people notice when they come across listings. It also helps to keep in mind that most of today's renters use mobile devices when looking for vacancies. So rather than risk selling yourself short, you're better off paying for the services of a professional photographer.
Get Social: With social media playing such a huge role in people's lives, using it to market your rentals is a no-brainer. It also goes without saying that you want to have accounts on several platforms, rather than limit yourself to just one. Maintaining a consistent posting rate will get the job done for the most part. Otherwise, consider running an influencer campaign to increase your following.
As old as word-of-mouth may be, it's still one of the most powerful ways to market anything and everything in real estate. So do approach your tenants and let them know that you'll appreciate any leads they bring your way. Better yet, why not throw an incentive into the mix? This could be a discount on one's rent or a gift card -- either way, it'll make it that much easier to keep your units occupied.
Although they're a natural part of the tenancy process, void periods can be managed to mitigate their negative impact. On one hand, there's a lot you can do to charm your tenants into staying put for the long term. It'd also help to invest in an ongoing marketing strategy -- this'll help you generate prospective renters before you need them.
Like every journey has its own destination, marketing only works when targeted to the right audience. So take time to survey your neighborhoods, noting the demographic that dominates the population. A local realtor can also help you picture the kind of tenants you want to target. And if other factors allow, consider taking up a community role for an even closer examination.
The larger percentage of today's renters go online to look for housing. What's more, the internet provides plenty of free ways to promote your properties. Combining these two brings out the obvious need to post your listings in multiple platforms. To give yourself the best shot at success, make sure to:
Write Enticing Marketing Copy: The goal here is to appeal to people through the written word. With that in mind, you want to choose phrases that will draw attention and paint the right picture in people's minds. Just try to avoid going overboard while you're at it. As for what to say, you can't go wrong by showcasing the features that make your units stand out from the rest.
Use Professional Photos: This is informed by the fact that pictures are usually the first thing people notice when they come across listings. It also helps to keep in mind that most of today's renters use mobile devices when looking for vacancies. So rather than risk selling yourself short, you're better off paying for the services of a professional photographer.
Get Social: With social media playing such a huge role in people's lives, using it to market your rentals is a no-brainer. It also goes without saying that you want to have accounts on several platforms, rather than limit yourself to just one. Maintaining a consistent posting rate will get the job done for the most part. Otherwise, consider running an influencer campaign to increase your following.
As old as word-of-mouth may be, it's still one of the most powerful ways to market anything and everything in real estate. So do approach your tenants and let them know that you'll appreciate any leads they bring your way. Better yet, why not throw an incentive into the mix? This could be a discount on one's rent or a gift card -- either way, it'll make it that much easier to keep your units occupied.
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