Leasing Tips For The Current Rental Market
Hi everybody!
I have a small brokerage in Boston, and I'm hoping to put together a list of tips for our closest landlord clients. Here in Boston the rental market has changed quite a bit. Demand just isn't the same, although I'm optimistic about the spring which is our busiest time for rentals.
As for tips so far, I've been telling people to 1) be flexible about deposits 2) be flexible about paying broker fees 3) consider incentives to keep good tenants 4) pay close attention to your competition's pricing and 5) team with agents to collect good marketing material for your apartments whenever you can.
What I saw in our rental market last year was pretty simple: If you weren't proactive about paying fees, changing deposit structure, etc you were more likely to have vacancy. I think that was the biggest lesson: be proactive.
I bet you fine folks on BP could offer some useful tips. Please let me know! Thanks!