Tips for Renting Your Premium Property, Particularly in a Tough Marketplace
Navigating a leasing process during uncertain economic times requires a combination of experience, finesse, and luck. I'd like to share some essential tips to ensure you and your revenue property are best prepared for a win when opportunity strikes:
The Opportune Scenario – The cause effect of uncertainty and low interest rates has always piqued interest in leasing. Many clients still prefer to rent instead of purchasing during these market conditions for personal or professional lifestyle reasons, financial risk management, or to simply await the timing of a more stable economy.
Video, Photography & Digital Investment – First impressions are lasting. High-end visual experiences for potential tenants such as staged photos and video have quickly become a benchmark for lead generation, and are now essential for leasing by way of the current preferred contactless service model. From the initial listing to virtual showings and meetings, highlighting your property's best features are truly key.
Precision Pricing – Establishing today's fair market rental price is paramount to ensure your property isn't overlooked for other options during times of higher-supply availability. Property management companies with decades of professional experience in local-market highs and lows hold an incredible advantage for gauging what potential clients are currently willing to pay. Carefully assessing your property to analyse its strengths, and performing a comprehensive comparison of similar properties in surrounding communities will reduce your time on market and get you back cash flowing quicker.
Proper Maintenance – Another essential first impression for the presentation of your property is that it is in a clean, turn-key condition, and ready for the seamless possession of any potential tenant. From gleaming appliances inside and out, streak-free mirrors, and ensuring each and every single light bulb throughout the home are dust-free and working, showcases to premium tenants that they'll attain the lifestyle experience they're looking for through your property.
Nothing Can Beat a Professional – Premium homes should be managed by a licensed real estate professional, backed by proven corporate processes and systems. The investment of leasing and management services are far less than the cost of your property sitting vacant because of missed opportunities through corporate networks and missing the mark on marketing and showing essentials. A professional property management company ensures your rent payments and security deposits are safe inside legislated trust accounts, are experts with your local tenancy regulations, and are there to guide all of your leasing, maintenance, and management needs.
Contact Citysearch today to discuss how we can provide you with dream results!
