‘What Renters Want’ with Jessica Fiur: The Oldest Real Estate Trick in the Book
There are several ways to stir up excitement about an apartment.
What’s the oldest trick in the real estate book to get potential residents interested in signing that lease? Telling them that someone else is also interested in the apartment. That creates an urgency for the renters, and makes the apartment seem more desirable.
There are, of course, more ways to ways to create excitement about an apartment.
Make the apartment worth it. Literally. It’s better to collect rent off an apartment than to let it sit empty, even if the rent is less than you would have originally planned. Offer incentives to rent the apartment such as the first month free (which could be pro-rated throughout the year, making the monthly rent seem cheaper) or offer rebates or gift cards. But make sure you say when the promotion will end (it should end)—that way the prospective resident feels he has to sign the lease right away to take advantage of the deals.
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