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Prospective Tenants: 770.783.3737

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Landlording: My Rental Property is Not Renting, What Am I Doing Wrong?

Web Admin - Wednesday, December 23, 2015 - 0 Comments

Atlanta Property Managers Answer to My Rental Property is Not Renting, What Am I Doing Wrong?

Landlords, are you wondering why you’re property isn’t getting interest? You’ve spruced it up and put it on the market, but the clock is ticking. Every second that goes by without a renter is one where you are losing money. In this article, your Atlanta property manager will be answering your question: My rental property is not renting, what am I doing wrong?

 1. You’re charging too much

Today’s competitive rental market can be brutal. If you are asking too much in rent, then your property will get overlooked by potential tenants. There’s a chance someone will offer a lower price than you want, but why take that chance? Lower your price if needed to meet area competition’s rates or better yet, ask an Atlanta property management company to help you determine the most competitive rental price for your property to rent it quickly.

2. You aren’t charging enough

Oddly enough, if your property is listed too far below the normal values for your area, you might be getting overlooked. People will assume that there’s something wrong with your property. Even if you can afford to take a hit, go ahead and list it at normal price. Then, offer free utilities or the first month’s rent for free to reel in renters. Again, ask for a free rental evaluation report from your Atlanta property manager and know that your rental rate is determined by an expert.

3. Your property is outdated

Poorly lit, drab interior, foggy windows, flooring or counter tops that have seen better days. Sound familiar? If so, then your rental property might need a face lift before going out on the market. Today's rental market is tough, and renters will pass up drab for fab any day of the week! Professional Atlanta property managers will come to your property to evaluate it's condition, you would want to know whether your property needs some updating.

4. Property is not clean

There is nothing worse than to have a prospective tenant walk in into a house that looks and feels dirty, bugs are on the floor or it smells bad. Make sure you check your property for cleanliness every week. Check for bugs as well and make sure there are no spider webs by the doors.

5. Your advertising isn't working

  • Maybe you’ve been advertising the same way for years, or perhaps this is your first time putting out ads. If it isn’t working, then you need to try something new. Try social media and make sure you have your property is listed on Zillow, Trulia, Hotpads, Realtor.com and a few other real estate search engines to spruce up your advertising regiment and gain more interest for your property!
  • Take really good pictures of the property, during day light and make sure you have at least 24 pictures per property. We’ve seen many property ads that have horrible, blurry pictures that don’t really show anything. Use a good quality camera with stabilization control to take your photos. Use a flash – always! It makes the pictures brighter. And, if you can, use a wide angle lens to shoot a larger view of the rooms.
  • Don’t forget to revamp the copy you write for your ad. If you aren’t excited about your property, my bet is, your prospects won’t be excited either. How you feel about your property will be directly visible in the copy you write. Use many descriptive words, for example; to say you have a small property: “This cozy home has everything one might need and want….” You’ve let people know that the property is small, without saying that it’s small. There are many articles out there that can help you write advertising copy. You can even get a writer for $5 to write your ad. Check out www.Fiverr.com, it’s an amazing resource for a small to medium size landlord.

Now that you’ve had time to look over this definitive list of turn-offs for prospective renters, can you pinpoint something that applies to your property? If so, set out to immediately correct the problem. You’ll be glad that you did!

 Marina Shlomov, a managing partner at ALH|Podland Realty & Rental Homes Property Management is the author of many articles on Landlording, Property Management, and Real Estate Investing. A residential builder in the state of Georgia since 1999, Marina is an investor herself. Her property management company is intended “For Investors” and “By Investors” for a simple reason – she knows what investors’ goals are and she works hard to reach their goals. In her spare time, Marina likes to spend time with her family, friends, garden, read and travel. Check her out at www.alhpodland.com. You can find Marina’s articles and comments at @rentalhomesatl on Twitter, on FacebookGoogle+, Blogger. and YouTube, Bigger Pockets and REI CLub and LinkedIn.




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