Improving your property listings can go a long way towards reducing vacancy times and helping you to attract top tenants. A property manager will know exactly how and where to market your properties to help you do just that. But if you're still on the fence about hiring help, there are a few things you can do on your own to improve your listings.
A significant percentage of potential renters turn to the internet to find ideal houses for rent in Georgia. This means that your property description is vital in bringing new tenants to your property now more than ever. Suppose a potential tenant goes through your property listing and is not impressed; they are definitely going to explore a different option. The good news is that creating a compelling property listing does not have to be a challenge. And, listing your property on these sites, as well as other advertising costs, may be deductions that you can reap come tax time.
When writing the description for your property, you need to make sure that it does not go overboard. Tenants can quickly identify listings where the property owner is trying too hard. A real estate property listing description is an opportunity for property owners to explore creativity and create a mental picture of their listing. By using too many adjectives, potential tenants will assume that you are trying to draw their attention from reality.
Studies show that some words can harm your property listing. From this, it is clear that the way you create your rental property listing description can impact your ability to find ideal tenants. For instance, using the word "clean" is a bad idea in a listing—after all, your property should be clean before a new tenant moves in. Seeing that word in a listing may leave the reader wondering if it's true.
A picture can say a thousand words—and reduce your vacancy times — but it can cost you thousands of dollars when listing a property. Potential renters start searching for properties by taking to online listing sites, and poor-quality listing photos are a big turn-off. Having a great camera is a good place to start if you plan to take listing photos, but you also need to understand the specific things potential renters look for when going through a property listing. Here are some of the things you need to keep in mind when taking a listing photo:
Determining how much your tenants need to pay for rent is perhaps the most important element when listing houses for rent in Georgia. However, a lot of work goes into setting a reasonable and competitive price. A common mistake of DIY landlords is setting the rent too high or low for the unit and the market it's located in. You need to make sure that you set an amount that is reasonable for your tenants and enough for you to make a good profit.
If you have yet to settle on an amount to charge for rent, it is always important to consider your competition. Look at properties in the same location as yours, the number of bathrooms and bedrooms, multi-family or single-family properties, the ages of the property, and any other factor that plays a part in determining the rental amount. Such information can be accessed from online ads, consulting real estate agents, checking out the property in person—or, a property manager with experience in your area and a track record for success.
Consider the amenities when adjusting the price of your unit. The cost of renting different one-bedroom units should not be the same unless they have the same features. The amount should be determined based on the view, updates, square footage, the general layout of the unit, and the floor level.
Different investors have different objectives when investing in rental property. Regardless of what you are trying to achieve, the amount you charge for rent should be enough to take care of any expenses associated with the property. Some of the more common expenses related to rental properties include mortgage payments, repairs and maintenance costs, and vacancy costs. You should also leave room for unexpected repairs or upgrades. For instance, if an individual in need of accommodations for a disability moves in, you may need to make upgrades to your property to make it more accessible. These expenses cannot be passed directly to the renter, so leaving room in your budget can help to offset them.
Finding responsible and reliable tenants requires a thorough screening process. It is an excellent way to mitigate some of the risks associated with owning rental property, such as non-payment, property damages, delayed payments, and tenant evictions.
With a good ad, it is easier to attract quality tenants. But the work doesn't end there. Ensure you run a background check on every prospective tenant and avoid those who are unwilling to undergo one. Follow through on calling their references and past landlords. This can help you avoid winding up with a professional tenant in one of your properties.
Many owners of houses for rent in Georgia are hesitant to allow pets. Although you can benefit from allowing pets, it does come with some risks. If you find yourself considering this decision, consider the advantages and disadvantages before you make your choice
Allowing pets provides you with access to a significant number of potential renters. It's also a great way to attract better tenants, who are more likely to care for your property to avoid having to search for a new home to share with their beloved pet.
The cons of allowing pets include potential damage to your property, as well as an increased chance of needing to replace floors before a new tenant moves in. When it comes time to show the unit to potential new tenants, the smell and mess of pets can also be a turn-off.
Charging a pet deposit and monthly pet fee is a good way to offset these costs while still allowing you to reap the benefits of allowing pets. And when you work with professional maintenance staff, they'll be there to step in and repair any damage before a new renter is ready to move in.
There are plenty of hoops that property owners must jump through before a new renter can move into one of their houses for rent in Georgia. From creating a quality listing to screening tenants and making big decisions about their property like the rent price or whether they'll allow pets, the process can be confusing, frustrating, and time-consuming.
But the right property manager can help. They'll be there to offer support, advice, and assistance every step of the way, giving landlords back their free time while still allowing them to rake in profits from rent.
As experts in Georgia property management, we know that incorrect pricing creates vacancies. A vacant property isn’t making you any money, so let’s get it right.
We’ll use your address and details about your home to compare what you offer to other properties already on the market. Then, we'll talk about the best way to position your home competitively.
