How to Attract New Waves of Renters

Attract the right tenants.

Attract new renters by offering a safe and comfortable environment that they can be proud to call home. New leases with current tenants are much less expensive than attracting new tenants; you will not have to change the locks, advertise, paint, clean or process new paperwork. It is important to keep current tenants happy by fixing problems right away and making sure the upkeep of the apartments and the community is acceptable. However, there will always be turnover, so attracting new tenants is very important.

Instructions

1. Upgrade apartments and the apartment complex. Paint all apartments and fix any damaged appliances or fixtures. Replace worn or damaged flooring. Add new amenities such as a gym or pool to the complex. Purchase new furniture and equipment for existing amenities.

2. Offer specials to new renters, such as one month free rent or a new television with a one-year lease signing. Reduced deposits or waived move-in fees also help attract new renters.

3. Create a website with up-to-date pictures of the property. Advertise specials on the website with a call-to-action, such as mentioning the website when signing the lease and getting $100 off the deposit.

4. Advertise apartments on websites that specialize in apartment rentals, such as apartments.com or craigslist.org. Include specials and recent upgrades in the apartment listings. List the apartment complex on Google maps.

5. Partner with large local companies to offer rentals to new hires. Human resources departments often negotiate relocation packages, so let them know you have apartments available for new employees. Offer specials or short-term leases to entice HR interest. Furnish some apartments for short-term leases.

6. Install large signs or banners to attract potential renters driving by the apartments. Place limited information on the banner, such as the rental special, phone number and website. The word "free" should be in big and bold letters if you are offering a free special. This word attracts many people.

References

• Apartments.com: How to Attract New Tenants and Keep Current Ones Happy
• Upstart Agent: 11 Marketing Ideas for Apartment Rentals