Closing the Sale

Written by on December 6, 2011 in Marketing - No Comments
Closing the Sale in Apartment Leasing

When renting out your apartment homes, the most important thing you can do is listen to your prospective tenant. Find out why they are moving and what they are looking for in their new home. This will help you know how to close the sale and get your apartments leased faster.

And if you need some help knowing how to close, here are 25 lines from Apartment All Star Mindy Williams of RentAndRetain.com.

  1. I have one left of that model
  2. Do you like the (poolside, second floor) one best?
  3. I find this to be the most ________ apartment home we have.
  4. You’ve made a good choice. That’s an excellent (view, location, layout, etc.)
  5. We have a special that includes __________.
  6. We can guarantee the service you will receive will be the best.
  7. Would you like me to reserve the style you like best?
  8. Would a (garden, poolside, third floor) home be best for you?
  9. This apartment is more expensive, but it’s been proven that…
  10. Don’t you agree that (this apartment has a lot of features, this is a very large apartment, etc)
  11. It may not be exactly what you had in mind, but since it’s the only one, why not take a look at it?
  12. Would you like to be able to sign up for free (Internet, maid service, parking) available with this apartment?
  13. I believe I can offer the deluxe model for you at the same price. Let me check.
  14. This is the last day before the price goes up.
  15. We can guarantee the lower price for (_______ time) if you sign the application today.
  16. Is this what you wanted?
  17. Do you prefer the model with or without (two-toned paint, the pool view, etc.)?
  18. Why wait when you can move in now? Moving is a pain; let’s get it over with as soon as possible.
  19. I can hold it until tomorrow morning if you like; this style is going fast and I don’t want you to miss out.
  20. If you ever have a problem with your apartment, call me and I’ll take care of it.
  21. Have you decided on the apartment you like best?
  22. Yes, this style is popular. I’ve rented ___ of these already this (week, month).
  23. You’re making the right decision. This is a great home for the price.
  24. If you want to save (time, money, gas, commenting, etc.) this is the home that will help you do it.
  25. Do you plan to rent an apartment today?

Do you have any closing lines that we missed? Share them in the comments and help out your fellow landlords and property managers.

Photo by: buddawiggi

Get Creative With Your Rental Ads

Written by on September 19, 2011 in Landlord Tips, Marketing - No Comments
Creative Rental Ads that Work

When advertising your rental apartments in a tight market it can be tough to stand out above the crowd. Landlords have to be creative and look at their rental properties in a new light. Are there any specific reasons people choose to rent at your property or from you specifically? Take a hint from this homeowner who’s offering $1000 worth of beer as a closing bonus on her house in Chicago. It’s yet to be seen if it will actually help her close the sale, but home tours are up 300% so the evidence suggests that it’s working.

How can you use this information to be more creative in your vacant apartment ads?

  1. Ask your current tenants. The best way to find out why someone rents from you is to ask. Send out a survey with your next rent notice or ask your renters over a quick phone call. There might be a very good reason that you cannot see because you, as the landlord, do not have the same perspective or motivation as the renter.
  2. Take a walk. Visit your rental property and walk around the neighborhood. Chances are things have changed since you first bought the property. There might be a new neighborhood hot spot or renovations you overlooked.
  3. Experiment. Think you have a good hook or motivating reason to rent your apartment? Test it out. Run a few different versions of your rental ad and see which attracts more qualified phone calls, tours and applications.

Trying new things is a good way to keep on top of the ever-changing rental market and to stay in touch with your renter base.

Have you ever tried a creative approach with your apartments ads? Did it work for you? Why or why not?

Photo by: Travis Lawton

Landlord Tip – Host Open Houses

Written by on September 16, 2011 in Landlord Tips, Marketing - No Comments
Host Rental Open Houses to Save Time

When you have a vacant rental property you need to rent out quickly, one way to increase competition and a sense of urgency is to host an open house. This approach has been working for home sales for quite a while and can work for your rental apartment too. Open houses can decrease the amount of time spent showing rentals and the added element of competition encourages interested prospects to act quickly. It is amazing how much more appealing a rental becomes when there are several other people interested.

Photo by: Southern Foodways Alliance

The Anatomy of a Good Rental Apartment Ad

Written by on August 14, 2011 in Marketing - No Comments
targeted_ad

When crafting an advertisement for your vacant rental property, there are a few things landlords should make sure they include. Renters are looking for specific information and only give apartment ads a few seconds before they move on to the next if it does not catch their eye. Here are a few tips to help your vacant apartment ad stand out and generate interest.

1. Good Title – The title of your rental ad needs to grab a renter’s attention and make them click on the ad for more information. A good tip is to include the number of bedrooms, bathrooms, location, and availability date. These are highly searchable terms for renters and often on their “must-have” list.

2. Beautiful Photos – Good rental property photography is an essential part to renting your apartment quickly. This is your first impression for a renter so make sure it is the best one you can put forward. The ad above is missing interior photography because it was being renovated. If the apartment had not rented in 3 days, it would have been wise for the landlord to update the photos when they were available.

3. Contact Information - Make sure it is easy for a renter to call or email you as soon as they are ready for more information. The more difficult it is to contact you, the less likely they are to go to the trouble.

4. Enticing Description – Again, the rental ad is your potential tenants first interaction with your property. Take a moment to look at your property through the eyes of a renter. What is it that matters the most in your market? Do you have extra parking that’s hard to come by? Are you close to the local college? Is there easy access to public transportation? Find out what attracts people to your rental property and play up those assets!

5. Quick List of Features – Renters are crunched for time just like the rest of us and are often looking at rental ads whenever they get a spare minute. By including a quick list of your rental highlights, prospects can quickly glance to see if your property fits their needs.

6. Embedded Map – When prospective renters are looking at an ad and they do not know where the rental property is located, the first thing they usually do is go to Google Maps (or another map application) to look it up. Often times they never return to learn more about your great apartment. Don’t loose a potential renter just because you do not have a map on you ad!

Photo by: sicoactiva

Related Posts:
What Makes a Good Rental Ad?
Get More from Your Rental Ad
10 Ways to Market Your Rentals

What You Rent For The Money

Written by on August 6, 2011 in What You Rent for the Money - No Comments
What You Rent for the Money

In this monthly series RentMonitor, property management software, features different rental properties across the country based on HGTV’s What You Get for the Money.  From the garden apartment in Chicago and the studio space in New York City to the guest house in Boulder and the beach cottage in Santa Monica, we will show you What You Rent for the Money.

This month we look at apartments in the Longhorn State. Texas is big, hot, prideful, and did we mention big? Let’s find out What You Rent for the Money for just under $1400 in Fort Worth, Lubbock, and San Antonio, Texas.

Fort Worth, TX

2 bedroom / 2 bathroom / 1030 sq. ft./ $1324 per month

What You Rent for the Money - Fort WorthOffering great access to downtown Fort Worth, the Stockyards and TCU, the AMLI Upper West Side community is a fantastic place to call home. This resort-style property offers on-site maintenance, a swimming pool, gardens, billiard room, fitness center, and covered parking.

For those that love to cook, The Chisholm floor plan is perfect. The open kitchen features abundant cabinet and counter space. It’s easy to entertain guests with the open great room and view of downtown. The bedrooms are split to offer privacy and the master suite includes a garden tub and a large walk-in-closet.

Lubbock, TX

3 bedroom / 2 bathroom / 1875 sq. ft. / $1300 per month

What You Rent for the Money - LubbockAs a first-time rental home, this beautiful house offers a cozy living space with updated paint and carpet throughout. The split floor plan places the quiet master bedroom suite alone on one side of the home while the other two bedrooms complete the opposite wing with a shared bath. An additional office lends to a dedicated work area or study.

Outside, the patio with both covered and uncovered spaces makes for a real outdoor living area. And the included sprinkler system simplifies lawn care. Finally, the 2-car garage is perfect for protecting your vehicles or extra storage.

San Antonio, TX

3 bedroom / 2 bathroom / 1700 sq. ft. / $1400 per month

What You Rent for the Money - San AntonioThis charming 3 bedroom home has a large open floor plan perfect for entertaining. Recently updated for a contemporary look, this property includes new paint both inside and out, ceramic tile throughout the home, and brush nickel light fixtures. A gourmet galley kitchen features ceramic counter tops, stainless steel appliances, and a pass-through to the open dining space.

The spacious master bedroom has a big walk in closet and private master bath features a double marble vanity. All bedrooms are upstairs and offer large walk-in closets. The location in the Woodstone Subdivision, lends to easy shopping access, parks and exemplary schools.

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