Proven Marketing Tips to Fill Vacant Properties for Rent Quickly

Real estate investment in rental properties can be a lucrative business and a regular source of income for a property owner if it is always filled with good tenants. However, finding prospective lessees is not an easy job. Your ads online can get lost in the crowd of innumerable similar other flats for rent in Bangalore. 

What to do to fill in the vacant properties quickly?

Based on our years of experience in the property management business, we have herein provided the tried and tested ideas to attract long-lasting prospective tenants. 

#1 Post Photos of Your Rental Home with the Ad 

Your tenants are busy people who do not have much time to read long text descriptions. To give them the best idea of how the house looks from outside and indoors, it is best to post as many photos of the property as possible. 

In general, ads with 18-24 photos are ideal to attract the maximum of visitors to see your property. Take photos of all the rooms, kitchen, bedroom, balcony, and so on. When it comes to arranging them in a sequence, the exterior view of the apartment should appear first to the viewer. 

Some dos and don’ts when posting photos 

• Take high-resolution photos 
• Don’t post blurry images
• Always post photos of the actual property 
• Hire a professional photographer (if required)

#2 Increase the Impact with Video Marketing 

It is good you have taken enough photos of all premises of the house. But, each one is different and shows only a section of the apartment. To give a clear idea of how the entire flat looks like, you can shoot a video even with a smartphone (with high-resolution camera). 

Start from the exterior part of the house and keep your camera set on the video recording mode as you slowly walk inside and roam through various parts of your rental property. Since very few landlords provide video of their flats/apartments, it is surely going to help you receive a response from big clients.  

You may want to shoot an hour-long video but it is not about creating a documentary but engaging the viewers. Your video duration can be anywhere between 2-5 minutes. Don’t go for too short or longer videos that can cause attention diversion spoiling the purpose.  

#3 Keep an Eye on the Details

The ad title and description are equally important as the photos. The description part has various sections- title, list of amenities, description, etc.

• Make Your Ad Title Informative 

The first thing to grab the attention of the viewers is the title. Do not use adjectives like-‘Deluxe apartment in an exotic location’. It does not provide any specific information the client is looking for.

Rather opt for a short informative title such as- ‘2BHK flat in Kasturi Nagar, Bangalore’. It provides two vital details- flat type and location. 

If a tenant is looking for 3BHK for rent Bangalore, he/she will obviously set a filter to find 3BHK flats or apartments only. So, if your ad does not show this information, it will simply leave the viewer clueless. 

Remember, you have only 65 character title to catch the tenant’s attention online. 

• List Amenities Correctly

Filling details in this section is very easy. Most advertisement websites have a quick template with a section for listing amenities. You can simply fill out the details and your ad will show all of them in list format. When listing the amenities, make sure to mention only those that you can actually provide and not everything in the urge to persuade quality leads. 

• Share the Budget Information 

Mention the details related to monthly rent, security deposit, annual apartment maintenance fees, and other charges. This helps to maintain transparency and builds trustworthiness. The interested parties can calculate their costs upfront even before contacting you. It also saves your time and theirs if it does not fits their budget. 

#4 Advertise Your Rental Property Online 

If you are looking to earn a lucrative income from your property investment, consider promoting it on the internet. Your tenants are everywhere on the internet. They use social media, watch videos online and so much more. 

However, there are certain tricks to succeed in internet marketing. If you are cautious about marketing your property over the internet, it is recommended to consult an expert property rent management Bangalore. If you do not have enough time to handle the advertising and marketing job, your property manager is there to take responsibility for everything. 

There are several benefits of choosing online advertising over traditional marketing platforms: 

• It is cost-effective
• Post free ads
• Share multiple photos and videos
• Explore multiple websites to show your ads
• Multi-dimensional marketing opportunities* 

When you decide to promote your property on the internet, there is much more to do than just listing your house on rent on property websites. For instance, you plan a video marketing strategy by posting a few videos of your house on popular platforms such as YouTube and Vimeo. 

#5 Adopt a Targeted Marketing Strategy 

Depending on the available amenities and your preferences, you can decide what type of tenants you want to rent your house to. If you are looking to lease house to college students, you can distribute handouts outside the colleges, at the local gyms, and bookstores to get some leads. 

This is not always preferable if you are a busy person. You will get a lot of phone calls as it is not possible to provide all the information on the paper ad of this nature. 

#6 Using Traditional ‘For Rent’ Signage

It is easy to find regular signage to inform a passer-by that you want to offer this house for rent. Nevertheless, the information on the board is incomplete and may attract a lot of queries from the visitors. If you own a single rental property and have a lot of time to tackle these issues, then this can be an inexpensive marketing strategy. 

To be impressive, you can create customized signage online with more information including phone number, email id, etc. Always mention the type of property you want to rent. 

For instance, if you have a 2BHK for rent Bangalore, you can put the same as heading on the signboard with the other details. Don’t hesitate to place multiple signboards in your yard, near the main road, and other places where you think people will notice them easily. 

#7 Welcome Tenants for an Open House Show

Giving each client a separate time to view the property can be a rather time-consuming affair. You can instead save your time and that of the visitors’ by announcing an open house show. Be very particular about choosing the date and hours. 

Obviously, you will get more visitors to the property on a holiday. Extend the open hours beyond the timings of the nearby open houses to attract more leads. 

How to Impress the Tenants on their First Visit 

Before you even try out these tips, herein are some basic considerations to succeed in your marketing efforts: 

• Your Property Should be Vacant

No landlord should ever try to advertise their rental property already filled with renters. Taking steps in advance can get messy if you fail to make the move-out and move-in a seamless experience. 

For instance, if your new tenant is ready to move-in and the existing party seeks an extension for a month for some reason, you can get stuck in a serious problem. Therefore, it is best to start marketing your property when the apartment for rent in Bangalore is empty.  

• Make the Rental Home Ready for New Tenants

It is quite natural that the empty house is dirty or may have damaged construction (in some cases). Since the first impression has an impact on the visitor, it is very important to keep things organized. 

When a new client is on a visit to your house on rent, it should be clean and well organized. This helps to influence the decision of the renter to move-in. 

• Be Genuine with Your Promotions 

The images you provide with online ads creates the first impression in the minds of the viewers. When they come for a physical visit, they have some expectations in the mind. 

For this reason, the entire look of the house should perfectly match the photos you have provided in the advertisement. The premises of the house should be absolutely clean and organized. 

When visitors get what they see, they are more likely to trust you. Being authentic and honest helps in getting prospective lessees and also helps in tenant retention for a longer period. 

To Summarize, 

The Silicon Valley of India is a densely crowded place where people are largely in need of rental properties. Marketing your vacant house for rent is not challenging if you adopt a strategic approach.

These ideas will surely help you to improve the tenant’s experience and fill in the properties quickly. However, if you already have an approach in mind, never hesitate to experiment with new things. 

Do you want to fill your vacant properties for rent quickly? 

If you have multiple properties to put on rent, we suggest appointing a property manager from a reputed Bangalore rental property management company to handle the job. Get in touch with us for a free consultation at http://www.sangau.com.

 

Why Property Owner Satisfaction is the Key to Profitable Business

 Every property management company urges to bridge the gap between tenants and landlords. To do so, it is vital to build a decent property management portfolio comprising of the most prospective rental properties. 

But, how to incorporate more and more properties on rent to your property management company?

The key to growing your business is to keep your rental property owners happy. This is vital to build a long-term relationship and run a profitable property management business. 

Expectations of the Property Owners 

To keep the property owners satisfied, it is essential to understand what landlords expect from their property managers when hiring services from a reputed company for property rent management in Bangalore. 

Some of the basic things property owners expect from their managers include: 

• Fill all their rental units 

• Monthly rentals deposited to their account on time

• Clear and easy legal agreement paperwork 

• Access to monthly statements

• Regular maintenance work at the rented units (when required)

• Periodical updates on the work progress

• Clear and up to date tax statements

Tips to Keep the Property Owners Happy 

With these aspects in mind, we have herein coined the best practices to keep the property owners satisfied. 

These practices will help you to: 

• Get insights on the use of technology to regulate successful property management business

• Build a large clientele base of landlords and tenants

• Keep your day-to-day work process organized 

#1 Help the Clients to Find Good Tenants 

Every landlord urges to rent their house to a decent person/family. To keep up to this challenge, it is best for the Property Management company to conduct tenant’s background checks and screening before both parties sign up for the legal agreement. 

It is always peaceful and desirable to rent homes to noble tenants. It assures the landlord that they will pay the rent on time, will not cause any damage to the fixtures and construction, and maintain a quality relationship.  

Property Management Services Bangalore

#2 Regular Rent Collection and Deposit 

Renting the property is an investment for the landlord. Hence, their top priority is to get a regular income from this investment. This means they want to get the rent on time. As a property manager, it is not only your duty to collect rent from the lessees on time but also deposit it to the provided account of the landlord. 

#3 Get Things Done On Time 

If you are looking to build relationships, it is important to focus on the user experience of your clients. The renters, as well as the landlords, rely on their property managers for a lot of services. When they need repair work in the house, make it your priority to do it as early as possible. 

Unnecessary delay in the work after placing a request means you are creating a bad impression of the company. Ultimately, this can result in the loss of business in the future. 

#4 Integrate Technology into Your Work Process

Do you feel that you have done everything but still not able to achieve success? 

Well, many property management companies fail to stay in the competition despite providing the best quality services to their clients. 

If this is the scenario, what’s the lacking factor? 

One of the most probable reasons is not keeping the things organized. This is where you need to incorporate technology in various spheres of work operations. Besides reducing the pressure, there are several other benefits of having a robust technological infrastructure for regulating property management services. 

The property management companies looking to improve the user experience for their landlords or add more clients to the portfolio can adopt the following measures: 

• Create a Portal with Sections for Landowners and Lessees 

In the age of smartphone, people find it convenient to find the desired information online. Having a portal with the list of vacant properties will attract an increasing number of tenants looking for an apartment for rent in Bangalore. Similarly, you can encourage the landlords to create their accounts on your website to keep track of the status of their property anytime anywhere. 

• Make Information Accessible to Your Clients

The clients (property owners and renters) need to find the necessary information about their lease house. 

Several companies have achieved business success by integrating property management software to their official website. The clients find it comfortable to access the necessary information if you create a website with a clear and easy user interface. 

For instance, when a landlord having multiple properties visits the account dashboard, there should be every bit of information in an organized manner under proper sections. The Owner should be able to find: 

• Status of each property (vacant/filled)

• Tax statements (monthly and yearly)

• Details of the apartment maintenance work in progress 

To provide the best user experience, always keep all the information up to date for the clients to access it anytime. In this age, it is preferable to make your portal mobile-friendly provide convenience on all screen size devices. 

• Keep the Mode of Communication Seamless

Your clients may have several queries, requests, or grievances. The property management company’s core responsibility is to address all these communications as early as possible. 

But, how to ease the communication process for your clients? 

An effective way to keep the communications seamless is to use contact forms on your website. All your clients are busy people. Therefore, it is helpful to adopt a minimalist approach by keeping the contact form short and simple. Having easy to understand templates allows the clients to fill in all the details quickly. 

• Send Notifications to Your Clients When Needed

It’s fine if you already have a website with updated information for clients- landlords as well as the tenants. However, it is also essential to send notifications regularly to your clients. 

For instance, the tenant may forget the date of the rent payment. You can send a reminder message via email or SMS one week before the due date. 

Likewise, you can also send a notification to the landlords when you deposit the rent into their account or when the tax statements are available for access on the portal. 

• Use Property Management Tools on Your Website

Today AI systems can ease your job to a great extent while you can save time from answering queries and focus on important work. Having a rent calculator tool on your website allows the new visitors to estimate the monthly costs of renting a certain property.

Suppose, a visitor wants to know the average cost of 2BHK for rent Bangalore, it is easy to find the details within a few seconds by setting some filters. 

• Establish Multiple Communication Channels 

Every client is different and so are their preferences when it comes to using a mode of communication. Some people are comfortable when talking to a representative over a phone. Others may want to share their  woes over a live chat and receive a response within a few minutes. 

Property management companies can thrive well with an active customer support team available to handle these types of communications. To address this problem, provide an email address, live chatbot, and at least one phone number on your website besides creating templates or contact forms on your website for various purposes. 

#5Be Responsive and Responsible 

It’s good if you already have various modes of communication available for the clients round the clock. However, if you do not respond to these messages/queries, it can hurt your business. 

Your support team has to remain active to respond to all the emails, messages, and calls at the earliest. Even if you do not have a solution at the moment, at least inform them that you are taking steps to meet the request. 

#6 Adopt Early Measures to Reduce Costs

Success in the property management business does not lie in problem-solving. Rather, the trick to staying ahead in the game is to anticipate them and take measures to prevent expenses. Doing periodical inspections, acting fast on the complaints, and scheduling maintenance work as needed are some of the measures you can take in this regard. 

#7 Quarterly Professional Inspection 

Conduct periodical inspection (preferably every quarter) on all the properties to find if maintenance work is required. Make early arrangements so that there are no major losses. This helps to reduce the cost of expensive repair works. 

Some of the benefits of periodical inspection are: 

• Monitor if the tenants are involved in illegal activities

• Find portions of the property that requires a repair work

• Increase user experience for the tenants 

• Extend tenant retention on the property

Conclusion

Property management is a highly lucrative but expeditious and competitive business. One of the most significant factors impacting your success in the industry is the level of experience you provide to all your clients. 

I hope these practices will help your company to emerge as the frontrunner rental property management in Bangalore. Make these strategies a part of your daily business operations to start achieving results within a short time. 

Are you looking for an experienced property manager? Contact us today for a free consultation at http://www.sangau.com

What To Do if The security Deposit Doesn't Cover Property Damage or Unpaid Rent

 All rent agreements usually requires payment of an interest free security deposit before the commencement of a rent agreement. The security deposit amount is typically equal to five to six month rent but it can exceed in some cases. 

These deposits are refundable without any interest payment at the end of the tenancy agreement if the tenant has fulfilled the terms and conditions of a rent contract. 

Local laws are designed in a way to protect the interest of both the owner and tenant. Security deposit is an amount that safeguards the interest of landlords. It can be used against any intentional damages caused by the tenants or any unpaid rent. 

There will be no problem if the security deposit covers the amount of damage. But what if the other cost cannot cover the loss or unpaid rent? In those circumstances, the landlord or rent management company, like SANGAU could take the following steps. 

Communicate to tenants 

Don't rush and be patient. Communication can resolve a lot of problems. A good relationship between tenants and landlord or rent management company helps. In this regard, the company should communicate with the tenant that the security deposit cannot cover the cost of damages and they should pay the amount. This communication is also known as a Demand letter. A good tenant always pays attention to such communication to avoid legal issues.

Legal Proceedings

When the tenant doesn't respond to the demand letter, then there's no other option except initiating the legal process for recovery. A rent management company like SANGAU has its own legal staff to handle such an exigency.

There are challenges when the dispute resolution is done with legal means. The legal case could be weak if there is a lack of evidence. The court decision is based on evidence and enough evidence should be provided for damaged property. A rent management company like SANGAU takes photos and videos of the property before handover to a tenant and hence it is easy to prove the damages caused by the tenant.

Legal case is a time-consuming matter and requires the attendance of the proceedings during the case by parties concerned. Legal cases also incur court fees and lawyer fees. This increases the recovery cost due from a tenant in addition to the cost due to damages or unpaid rent.

There are various ways by which a legal case might be avoided. These solutions are discussed below.

Increase the deposit 

By increasing the security deposit amount the landlord or rent management company is on the safe side. It also helps them to identify only good tenants who will take care of their property to claim the security deposit at the end of the tenancy agreement. 

Negotiation

To avoid inconveniences for all parties when going legal it is always better to not go to court and negotiate the matter out of the court. By discounting a small portion of the amount to be recovered there might be a possibility to recover the balance amount. The discounted amount could the equivalent of lawyer's fee and other costs.

Collection agency 

Rent management companies hire collection agencies to collect the amount due from a tenant. Collection agencies charge a certain fee towards such services and it needs to be carefully evaluated if this is a cost effective solution.  For more Details visit:- www.sangau.com