Need Help Setting Rent Price

[Nicholas DeGaetani]

So I just missed the window to rent to the majority of local university renters, and have reduced rent to what looks to be a competitive price.

My 2 questions are:

What are you top tips and tricks to market to college students or young working professionals entering the market for a rental in a great location?

What top renovations or improvements should I target that won't break the bank (e.g. smart home, thermostat, stainless steel appliances, etc.)?

[Michael Haas]

I'll disagree with Patricia on this specific case- when you're talking about college students, there is definitely a peak rental season (summer) and there are definitely tips and tricks. 99% of college students aren't going to start a school year without a rental locked up, so although you can definitely rent your unit any time of the year you should organize your lease periods around the school schedule if you are right next to a campus and a good candidate for off campus housing.

On tip: we list our units both as individual rooms and as whole houses- often an individual room renter will market the house to friends and fellow students and fill the remaining vacancies. We also maintain friendly relationships with our existing tenants, and occasionally ask them to post on facebook, their campus groups,  and generally reach out to their network to fill vacancies.

Best of luck!