This is the question all powerful is not it

Great question, not always an easy answer. When the subject comes up with our customers, we do our best to advise them on a few key factors. First, we ask them what they think the property should hire and why. Many times the new owners believe their property can rent for several times the market value because they have a strong connection to their property. We work closely with them and show them how and why there is always a magic number to keep you with good return on investment and 100% occupancy.
1. Search:

It can never be enough research when trying to rent a property. There are so many factors that come into play based on the type of property you own. We will focus on residential in this article. Before you start marketing a new property to our research team will be the price in a 5, 3, 1, 0.5 mile radius and create a list of similar properties and their amenities. We will then compare that list to our complex and to determine a competitive price.

2. Marketing:

Where and when the market has a lot to do with your net operating income. Generally, the rental market will peak during the summer months. Students end their lease and have more time to shop because they are out of the summer.

You the market is another key factor to keep your property occupied. Ask yourself these questions: How much do I want to spend on a marketing budget? Site is relatively flat, or do I advertise in the classifieds? Do I pay a company to market to me or I can do myself? All these issues will affect your bottom line, make sure, if you use a management company, they are including all of their marketing materials in the quarterly reports they give you. In my opinion you do not need to spend much money on ads sites to keep your 100% occupancy.

3. Relations:

Relationships are key to keeping your property occupied. Simple things as being available in a movement lessee or to personally respond to a call for maintenance, the tenant will realize that “this landlord really cares about me and the property.” This is not always easy to do, especially if you have a regional or national level throughout the company. No matter the size of your business, you should be focusing on all of your employees. Simple things like the quick fix or a break on a late fee, after a while, go a long way for your tenants and generally leads to a great review of your belongings when they decide to move.

When you rent a house or apartment your goal is always to achieve the maximum return on investment, either for you or the people you hire. There are plenty of things you can do to produce results, however, three things to keep in mind are, research and make sure you know your competitors pricing and comfort them, keeping on top of this will allows your staff to have appropriate rebuttals to common questions and also make it clear to your potential tenants that your staff is competent and trustworthy.

Secondly, Marketing, do your due diligence on this before committing to a professional company, there are many sites that allow you to effectively market free. Finally, relationships are key to retaining quality tenants, be available to them during the current movements and make the process as easy as possible, in many cases this will mean a great review for you and your property. Good luck.