Make Rental Property More Rentable

5 Ways to Make Rental Property More Rentable

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Make Rental Property More RentableHow can you make your rental property more rentable? For most property owners, the top priority is the bottom line. And that is important. Certainly, you are in business to make money. But a small shift in priorities can make your rental property more attractive to renters and increase your bottom line at the same time. Here are five tips to get you on the right track:

#1: Be Visible

From the very beginning of the rental process, let your tenants know who you are. Be available when they need to talk to you and be prompt in taking care of your responsibilities. Happy tenants stay longer and take better care of their rental. Every landlord knows that frequent turnover and vacancies take a serious bite out of profits.

#2: Offer Additional Services

You can charge a bit more for additional services such as lawn mowing, garden maintenance, or house cleaning. Your tenant will be happy not to have to do it or search for a reputable service.

You can negotiate fees for the services with local businesses. Or, family members might provide some of the services. If you do the job yourself, such as mowing the lawn, it provides the added benefit of making you visible.

For renters, this added service may be the difference between choosing your property or the one down the street.

#3: Consider Furnishings

Not everyone needs a furnished unit, but if they do, providing that option not only focuses on the needs of the market but improves your profits. Wherever possible, utilize permanent furniture – less movement equals less damage.

You can purchase excellent used furniture at a fraction of the cost of new. Not only can you charge a bit more for rent, you can also charge a higher security deposit for a furnished unit.

One drawback, however, is that tenants who rent furnished units tend to stay for shorter periods of time.

#4: Be Creative

To make your property more desirable, you need to think outside the box. In what creative ways can you be of better service to tenants? Can you provide extra storage space? Everybody has more stuff than they have room for. And everybody hates to part with their stuff. Providing a safe place to store that stuff is a real plus.

What about parking? If you have extra spaces or a garage space, a safe place to put a car could mean a great deal to a tenant.

#5: It’s a Business

Finally, you are providing an invaluable commodity to your tenants – a home. So, while you want to be friendly and caring, it is still a business.

Provide professional documents. Give your tenants a telephone number (not your personal one) where they can reach you at all times. Be prompt in returning calls and taking care of problems. Get proper insurance. Provide for electronic payments. Enforce a late policy.

As a professional and attentive property owner, your tenants know that you take pride in the service you provide. When you give both value and service, you will have happy tenants and desirable units that ultimately make your rental properties more rentable.

So, for more tips to make your rental property more rentable or to learn about our Marietta professional property management services, get in touch with the team at Vineyard Property Management today.

rental property self showings

Top 5 Advantages of Rental Property Self Showings?

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rental property self showingsThe COVID-19 pandemic has presented many challenges to rental property owners. Perhaps the greatest one of all is figuring out how to show properties while adhering to social distancing guidelines. Rental property self showings have emerged as a practical, convenient, and necessary solution to the rental property industry.

At Vineyard Property Management, we use Rently, an innovative, on-demand self-touring technology to replace in-person showings. This protects both rental property owners and prospective tenants from Coronavirus transmission and provides tremendous peace of mind and convenience. Through this tool, we’ve been able to help our rental property clients keep their properties full. This has allowed them to keep their profits up in the face of a struggling economy.

Read on for the top five advantages of utilizing self showings for your rental property.

#1: On-Demand Showings Mean Less Wasted Time and Higher Productivity

For an in-person showing, there must be coordination between the prospective tenant, property manager, landlord, and leasing agent. A self showing enables the tenant to check out the property at a time that is convenient for them. Rather than spending hours scheduling and conducting the tours, property managers and landlords can focus on other tasks to grow their business.

#2: Rental Property Self Showings Streamline the Leasing Cycle

Rather than having to schedule an appointment weeks away to accommodate busy schedules, the prospective tenant can tour the property on weekends or during the evening after work. Automated self touring allows tenants to enter properties through keyless entry locks at their appointment time. As a result, properties spend less time on the market and less time vacant.

#3: Rental Property Owners Benefit from More Property Showings

The ease and convenience of on-demand showings mean more prospective tenants will check out the property. With the right system in place, you will likely schedule far more showings than you did when scheduling in-person tours pre-pandemic.

#4: Level-Up Security and the Screening Process

Self showing platforms like Rently take prospective tenants through several security checkpoints to provide property managers and landlords with peace of mind. This provides an additional layer to the tenant screening process, ensuring you get the right tenants into your rental properties.

#5: Make Prospective Tenants Happy

Establishing a positive rapport with prospective tenants is an important goal for any property manager or landlord. Self-showing technology provides instant gratification for prospects who want to see the property right away and are ready to move forward.

Take Advantage of Self Touring Technology for Your Rental Property

If you are interested in setting up rental property self showings, connect with the professionals at Vineyard Property Management to get started. Let us show you how easy-to-use Rently can be. We’ll handle all the details to help your rental property business increase profitability in 2021 and beyond. Contact us now; call 404.788.3657 to learn more.

millenials renting instead of buying

Why Are Millennials Renting Instead of Buying?

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millenials renting instead of buyingAccording to a new survey from Apartment List, more millennials plan to rent not just in the short-term, but forever. What are the reasons behind this change in housing choice? And, how can you leverage the trend to fill your property with high-quality tenants? Keep reading for the details that can help you grow your rental property ROI in 2021 and beyond.

Rent vs. Buy: Understanding the New Trend for Millennials

Housing prices continue to climb steadily, and the twenty-something crowd desires flexible housing options. That’s why more and more millennials are turning to rentals instead of home purchases. Affordability is the primary reason. While some in this age group may eventually purchase a home, many say they plan to rent indefinitely.

The biggest obstacle to home ownership is the costly down payment. Financial burdens like student loans, high living costs, and other economic struggles make purchasing a home more complicated than it was for previous generations.
Still, other Millennials aren’t interested in purchasing a home at all. They prefer the flexibility of renting. There are fewer maintenance expenses associated with rentals and less overall responsibility. This makes renting appealing to busy people who are trying to establish careers and begin families.

Choosing Life in the Suburbs Instead of in Metro Atlanta

Another trend relevant to local property owners is the fact that people are moving out of Atlanta and into the suburbs. As people learn to live the new normal during the COVID-19 pandemic, they find suburban life more appealing. Less crowding makes it easier to enjoy life while adhering to social distancing guidelines. According to the Washington Post, COVID-19 has been a catalyst for people from all generations, especially Millennials, to move out of metropolitan areas.

The perks of city life are  waning due to business closures and social distancing. People believe they can experience a better quality of life in the suburbs. Other contributing factors include a lower cost of living and better public schools.

How to Leverage the Trends for Your Alpharetta Rental Property

Now is the time to make sure you reach all of the best potential tenants seeking optimal renting opportunities in Alpharetta and surrounding communities. At Vineyard Property Management, we have the streamlined solutions in place to help you find the cream of the crop to fill your properties. Our in-depth screening and vetting process enables you to attract and maintain the right renters for your property, reducing your risk and maximizing your profit.

Connect with us now to get a free rental analysis and property management quote for your Alpharetta property rental. Our experts are here to give you peace of mind and a more secure investment by connecting you with Millennials renting instead of buying as well as other ideal tenants.