how to win over tenants

Question

Aaron K. · Answer

You can't really, they either want to rent or they don't and you can't force them.  The main tool you have is lowering the rent, which if you are at market wouldn't be a good idea.

Dennis M. · Answer

Merry holidays ? It’s called Christmas homie

How to win them over this time of year . Well I always bake my tenants fresh gingerbread Men with a divine peppermint frosting then add little gum drop buttons arranged ever so neatly in a row . I present this with steaming hot cocoa and we sit around the fire chatting about our childhood memories with NAT king cole playing softly in the background . If that doesn’t make their Yuletide gay nothing will!

Joe Splitrock · Answer

@Luke H. I am saying this to help you... Offering a discount for a 2-3 year lease is a rookie mistake. You are better off giving a discount for a one year lease, because you have flexibility to either increase rent or not renew at the end of the first year. Leases provide illusion of security. Tenants break leases all the time. Lease terms protect tenants more than landlords.

The shed may be a good addition, simply because you have no garage. Don't tie it to a along term lease agreement. Only do improvements to the property that add value for ANY future tenant, so it helps you get more rent out of the property.

It is just a bad time of the year. I would consider offering January free with a 15 month lease. Realistically it may sit vacant in January, so why not just offer free rent to get someone in sooner? As far as the 15 month lease, that would run January 1 - March 31st, so your renewal comes up in the spring, which is a far better leasing time. Then you can offer 1 year renewals after that.

Marc Winter · Answer

@Luke H., look at your marketing.  Are you getting enough interest/showings?  This time of year usually grinds to an almost halt.  Fortunately, NEPA is bucking that trend this year, but normally it's slow on the rental side--nobody wants to move during the holidays.  And if they do, ask yourself "why"?

The last two applicants we looked at last week:  one has a very recent eviction, the other has a very recent "out on parole" on their background.  Not what we'd call best-possible candidates in the property management business.

Merry Christmas!

Sylvia B. · Answer

I would suggest putting in the shed without requiring the long lease. It will make you more competitive both now and in the future - people need room for their stuff. Also, do you really want to lock yourself into a 3 year lease? When push comes to shove, renters leave, regardless of the lease, but it will make it harder for you to get rid of a good tenant gone bad.

Luke H. · Answer

@Dennis M., every time I say Merry Christmas some smartie says it isn't Christmas yet, plus the PC police is just waiting for their next victim. lol  I'll update my post though cause I agree.  Aha! some cookies and a bottle of wine! just kidding...about the wine.

Brent Paul · Answer

It could be timing. This time of the year isn't the easiest to find tenants.  With the holidays most people are putting their extra money into buying presents or trips to see family.   Your rent could be too high

Or you could offer a discount.  Say 400 dollars off first months rent if they sign a lease.

A shed is a small investment especially if it gets tenants renting the property.  I have had a lot of tenants comment about a shed being a nice feature on a few of our properties.

Calvin Ozanick · Answer

I would highly recommend from every trying to sell yourself to a tenant. The problem with that then becomes they think they can always get away with a little bit more. The best I could say is that if you are at market rent, wait it out for the right tenant. Throwing in sweeteners just hurts your bottom dollar more than anything. Obviously, if you are looking for more then I would say you should be willing to part with some rent in order to get it rented. Also, this would be a great thing to dump onto a property manager. It would save you the time and headache, while also putting a professional in the position they excel at.

how to win over tenants

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