Attracting Tenants: Online Leasing for Multifamily

Are you looking to attract quality tenants for your multifamily rental property? With the competition for renters in the market these days, it's important to make sure you are doing everything possible to draw in the best tenants. The good news is that we have compiled a few tips for you to help make your property shine and attract the best tenants. Keep on reading to learn more.

Tips on Finding Good Tenants Through Online Leasing

Online leasing has been outgrowing traditional “walk-ins” for years now. Adopting online leasing can help you find great tenants quickly and effectively while also making the process easier and more convenient. Here are a few tips to help you get started.

Add Staging Furniture

Since online leasing highly depends on visuals, consider adding furniture to your vacant units. This can help future tenants get a better understanding of the space and how they can make it their own. Make sure to invest some time and money into the staging process to get the best result possible.

Provide Well-lit and Welcoming Common Areas

Another visual aspect of your property that you should consider is the common areas. Make sure these are well-lit and welcoming so tenants can get an idea of what the atmosphere is like on your property. Use a good camera that can provide a quality output to show off your common areas.

Write an Attention-Grabbing Listing Description

The first thing that tenants will see when they find your rental listing online is the description of the rental property and features. Make sure to write a captivating, attention-grabbing description that will draw them in and make them want to learn more about what you have to offer. For example, if your units offer a great view of the city, make sure to mention that in the description. The same thing goes for amenities, location, and other features.

Make Use of Social Media Platforms

Today, there are more than 4.9 billion active social media users on various platforms. Regardless of your location, you are sure to reach someone out there who’s interested in your property on social media. You can use social media platforms to create attractive posts featuring your rental property. Make sure to use the right hashtags and words that will make it easy for tenants to find you on these platforms. Facebook, Instagram, and Twitter are some of the most popular platforms you can use.

Provide Complete Details of Your Property

One of the most common mistakes property owners make is not providing enough information about their property. When tenants find a listing online, they want to know everything there is to know before deciding whether or not it is the right fit for them. Make sure you provide complete details about your rental property so potential tenants can make the best decision possible.

These are just some of the most important details to consider when it comes to online leasing and multifamily rentals:

• Price
• Amenities
• Photos and Videos
• Security Deposit
• Lease Terms
• Pet Policies
• Contact Information
• Number of Bedrooms and Bathrooms
• Utility Information

To give you an idea, here's an example of how you can structure the listing:

<Property Name> is a <number of bedrooms and bathrooms>, <location> apartment building. It offers great amenities such as <list of amenities>. Other features include <additional features>. The monthly rent for this property is $<rent amount>. Security deposit amounts to $<security deposit amount>. You can also break the details down in bullet list like this:

• Amenities: Pool, fitness center, on-site laundry
• Price: $<rent amount>/month + $<security deposit amount> security deposit
• Lease Terms: 12-month lease term
• Pet Policies: No pets allowed
• Utilities: Gas and electricity are not included in the rent

How Multifamily Rentals Can Attract Good Tenants

Now, if you have already listed your rental property online, this is not the end of your job. Focus on attracting good tenants to your multifamily rental and make sure that they are happy living in your property. Here are a few tips for you.

Upgrade to Digital Rent Collection

The first thing you should do to attract good tenants is to switch over to digital rent collection. This will make it easier and more convenient for your tenants to pay their rent on time each month.

By using property management software offered by ExactEstate, you can easily integrate all of your financial accounts in one place and manage them with ease. We also offer other benefits including:

• Tenant Screening
• Accounting
• Maintenance Requests
• Online Portal
• Online Applications

Host Events for Prospective Tenants

If you have a good network of people interested in renting property, consider hosting events for them. You can invite them to a tour of your building and give out information about its features and amenities. You can also host seminars to provide valuable information about renting apartments. This will help you create a positive image of your property and show renters that you really care.

Invest in Amenities

Plain and simple, the better your property amenities are, the more attractive your property is. This can be anything from smart locks to virtual doormen and from communal areas to onsite fitness centers. Investing in these amenities will also help you charge higher rents, which is a bonus.

How ExactEstate Can Help

The number of investors investing in rental properties is growing each year, and so is the competition. So you must stay ahead of the curve when it comes to multifamily rentals to make sure that your property won't be overlooked.

At ExactEstate, we provide you with comprehensive property management software that helps you keep track of your rental properties and streamline your daily operations. Not only will this help with how you manage your rental property, but also gives your renters an easy and secure way to pay rent, request maintenance, track payments, and communicate with you.

With our help, you can easily take full control of your multifamily rental business and make sure that all tenants can make the best decision possible when it comes to renting an apartment.

The Bottom Line

Maximize your property's potential in the multifamily rental market by upgrading to digital rent collection, hosting events for prospective tenants, investing in amenities, and using ExactEstate's property management software.

Take control of your rental business! Schedule a free ExactEstate demo and see how we can simplify your life.