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9 Ways to Differentiate your Property

June 16, 2012

The way things are shaping up, there are going to be more and more landlords out there. Tenants have choices and doing a few small things can have you stand out from the rental down the street. Below are 9 ways to differentiate your property:

  • Answer your phone when it rings. I can’t say this enough. This one thing will separate you from most landlords.
  • Be cheaper than your comps. First know your competition. Then undercut them slightly depending on the condition of your place vs others.
  • Show the home in good condition. Don’t show it if the home is not ready. I showed a prospect one of my places the day after the last tenants left, but before I had a chance to get everything ready. They did not rent from me. The home was not in terrible condition, but it was not clean and move in ready. Be patient and wait till you get it presentable before showing.
  • Fresh paint. Paint can change a place like nothing else. Makes the entire house look clean and can eliminate most odors.
  • New carpet or clean floors. After fresh paint, new carpet is the next best thing.
  • Clean baths and kitchens. Be sure these rooms are very clean.
  • Operational condition. Working garage doors Have utilities on when you show. Working light bulbs. Appliances that work, etc.
  • Ask a cheaper deposit. Many people in the Class C stuff are looking at their total move in cost. I see most landlords ask one month’s rent. Then your tenant will try and use the deposit as the last month’s rent. I like to make it different than my rent amount and use this opportunity to differentiate my property by offering a cheaper total move-in cost.
  • Show them you are a good landlord. Be firm, but understanding. There will be many opportunities to show you’re a good landlord: over the phone, during the walk through, application and screening process, responding to maintenance issues, etc.

It primarily comes down to the combination of a property that is cleaner and cheaper than your competition. This should give you your choice of the best tenants in your neighborhood. Now it’s just a matter of picking the right one.

From → Landlord

  1. Melisa permalink

    This is a very good article with some very good suggestions. Thank you for always being so informative the information you provide in your blogs truly helps me manage my portfolio in a better way.

  2. Very good landlording tips!

    I agree with you on your answering the telephone suggestion. Answering the phone and really taking care of the needs of your tenants should be number one for every landlord.

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