Property Management Tips to Occupy Units Today

Having tenants occupy units is what allows rental properties to grow their businesses. The market can be competitive, especially if you live in an area where there seems to be more rentals than tenants. Your business can still thrive in this situation — you just need to find the right resources and methods to invite potential tenants into renting your properties.

We’ve compiled some of our most useful property management tips in this blog. Feel free to use this as a reference to assist you in finding tenants to occupy apartments in your property. If you want to know the secret to smart property leasing, continue reading.

Post Your Listings Online

In the age of social media and technology, posting a listing for your rental property online seems like a default decision. Whether it’s tenants or potential homeowners, it seems that looking for housing options online before checking on-site has become a popular method among consumers. The National Association of Realtors (NAR) reports that 97% of homeowners took their house-hunting to the internet before anything else.

It seems that the situation is similar for rental properties as well. Real estate websites have grown increasingly popular over the years. Many people turn to these websites to search for rental properties and homes in certain cities and areas. Tenants tend to search these websites for reviews and other options before they occupy units.  One of the most popular platforms, Zillow, has reached over 36 million unique visitors per month.

Upgrade Your Rental Property

Making major changes to your rental property’s structure might be a good way to find tenants that will occupy units fast. If you have some space to spare on your property, then perhaps you should consider renovating your property to accommodate more space. This is a big and most likely expensive project that may take some time to accomplish. However, it is worth the effort and cost because having access to more space may appeal more to tenants. A survey by HomeLight in 2020 found that the main reason behind tenants moving out of an apartment is that they need “more space.”

You can tend to their needs by offering a larger living space on your property through renovations. If you have any bigger rooms that you don’t rent out, then that could work as well. You could turn these rooms into bigger, additional units or let tenants use them for additional storage space. Tenants will most likely pay higher to occupy apartments that have enough space to accommodate their needs and belongings. If you have enough space and resources, then you could also gear your changes toward creating a space for single families to occupy.

Make the Lease Process Easier

The lease process involves a lot of steps that could require multiple visits before the tenant can move in. It’s elaborate and detailed, which is necessary but sometimes troublesome for both you and the tenant. Making this process stress-free and easier could help you generate more tenants to occupy units. Online leasing has become more popular over time because of the convenience that it offers for both parties. Whether the tenant is a student trying to move in before their semester starts or a senior who struggles with the elaborate lease process, using property leasing software can help with streamlining the process.

ExactEstate offers the ideal service for this situation. Our online leasing software allows you to manage your existing and potential tenants through advanced, digital means. Make the leasing process easier by making the necessary documents available online. All of the information exchanged on our software remains 100% secure and confidential between you and your tenants, so there is no need to worry about any data being compromised. We utilize digital signatures for all documents, meaning that you and your tenants can communicate and transact even if you are not physically in the same room. Receive and send out documents in real-time. Providing a digital signature also cuts down on logistic and transportation costs, as all necessary signatures reflect on the software as soon as they are submitted. Gain access to your clients anytime and anywhere.

Incentives and Deals

Tenants will most likely be encouraged to sign a lease if you offer additional benefits to their rental. You can offer deals like a discount on their first month if they sign a lease during a given timeframe. Maybe you can go with seasonal trends and holidays to promote these deals and take them to social media. Consumers love free stuff and good deals, and tenants are no exception.

You can gear your advertisements heavily toward good amenities within and near your property, such as local supermarkets, parks, or shopping centers. Free parking is also a great deal to add if you are looking for more tenants to occupy units, as many rental properties require an additional fee for this.

Be Productive During Your Apartment Lease-Up

If your apartment isn’t on the market yet, then you can use this time to accumulate as much attention towards your units as you can. You can start by crowdsourcing. Ask people you know if they know anyone who would need to occupy apartments within the next few months but don’t need to move in immediately. Referrals are a great way to get tenants, so make sure to provide accurate descriptions of your property while talking about it to your connections.

You may also begin posting listings online during this time. Take it to multiple websites and list your property there. Advertise any amenities you have on your property. You can even make this process more fun and interactive for potential tenants by hosting a giveaway or handing out a freebie for every application you receive.

Get More Tenants Today!

Finding tenants to occupy apartments in your property can be tough at first, but once you try these property management tips, then you may find more applications coming in soon. ExactEstate offers premium property management software to enhance productivity and make your job easier. Book a demo with us today!