As we all know, the rental properties in Broward County are certainly doing well. Plenty of people are in need of rental spaces and the rental prices are going up because of the simple laws of supply and demand. As a rental property owner, you’ll need to be ahead of the curve on prices, amenities and— perhaps most importantly —knowing how your renters are finding you and how they’re finding your competitors. To figure this little puzzle out, you’ll need to define the “y” in the y=x equation and strive to understand how people are weeding out your apartment over others. Knowing how they find you through the various portals available will reveal where you should advertise, what sort of demographic your property attracts and so much more valuable information that will help you optimize your business model. So how do find potential renters find their next place to live?
Word of Mouth
Having a premier property management company that is intimately familiar with the importance of customer service, will only serve to benefit you. Ultimately, your past and current renters are your most powerful endorsement to the public. They invite people over, they talk about how the repairs are handled, they talk about how much they pay for rent, they’re constantly marketing spaces in your building for you. Other renters that will call your multifamily rental property home might find out about you through other folks that already live there.
They Flaunt Good Credit
When renters are looking for a new place to stay, their credit is like their review platform. You might be rated on Google, but they’re rated with a credit score. There aren’t many people who have really good credit, and they know that and use that to their advantage to get courted by nice multi-family properties.
They’ll Look Beyond The Rentals
If renters are having trouble finding something they like, depending on price point and other factors, they’ll sometimes turn to for sale properties. If a house has been on the market for quite a while, it’s often worth the time of the right renter to inquire if the owner would take it off the market and rent it to them for a while. It’s a great way of waiting out the market for the homeowner and a clever ploy for the renter, though it’s few and far between that this occurs
They Know How to Work Rental Websites, Do You?
Absolutely everything is online nowadays. People don’t book hotels in person, they don’t search for restaurants by foot, and no one looks for a rental by seeing a property from the side of the road and walking into the property’s office. At least, not most folks. Arguably, the best place to search for renters circulates around only a few sites specifically and, unfortunately, one of those is Craigslist. Folks who live in Broward County, however, are probably more prone to look to places like Rent.com. But places like Rentometer.com exist too that can compare rentals for you based off of the price. Most future renters peruse these sites daily so it’s important to be top of mind.
Zillow is an amazing tool in regard to real estate as an entire industry. They connect buyers and sellers renters and rental properties and their always improving their platform. From putting their zestimates back in line to creating beautiful user interfaces, they’re certainly a force to be reckoned with. That’s especially true now. Recently, the website has released a program that helps renters pay for their apartment through Zillow. The idea is that it’ll bring the property management aspect between the owner and the renter into sync online. The major perk of this is the online application process which allows renters to make a split second decision after seeing attractive photos and then applying for the apartment. The program will include a background check and credit check all done by Zillow.
DNS Property Management spends hours daily, fielding renter complaints and helping them solve their repair issues, but we also spend time marketing your rental property. We know how renters shop for properties and we’re equipped to make the best portions of your multi-family rental property stay at the front of their mind through their entire browsing process. Put your faith into expanding your revenue with DNS Property Management now.