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 majority of renters use the internet to hunt down options, so it's pretty much where you should focus most of your efforts. Perhaps the best thing about it is that there are plenty of sites where you can post listings free of charge. It's all up to you to figure out which ones are worth your effort. As for how to make the most of your online presence, it would help 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 Listing Photos: You want to show that you care about your rentals and their presentation, right? Then you have no option but to work with a professional photographer. Real estate agents will attest that photos are what draw people towards listings. Combining this with the fact that most of today's property searches are undertaken via mobile, and it becomes clear that you're better off relying on a pro.
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 majority of renters use the internet to hunt down options, so it's pretty much where you should focus most of your efforts. Perhaps the best thing about it is that there are plenty of sites where you can post listings free of charge. It's all up to you to figure out which ones are worth your effort. As for how to make the most of your online presence, it would help 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 Listing Photos: You want to show that you care about your rentals and their presentation, right? Then you have no option but to work with a professional photographer. Real estate agents will attest that photos are what draw people towards listings. Combining this with the fact that most of today's property searches are undertaken via mobile, and it becomes clear that you're better off relying on a pro.
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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