Tips for Making Your Rental Property Stand Out in 2014

Make it a New Years Resolution to Market Your Property Right!

How can you ensure your property stands apart from the crowd? 

Market your property even when it’s rented: The old adage, “the best time to find a job is when you have a job” can be applied to a renter’s market too. Don’t get too complacent in today’s housing market; always be looking for your next renter.

Use incentives to attract quality renters: Look for creative ways to attract renters this year by including free incentives in the rental price. Some ideas include a gym membership or gym equipment usage, or a monthly cleaning service (bonus to you too – at least you know the place will be cleaned!).

Furnish your property: There are tons of unfurnished properties for rent – but very few homeowners are tapping the potential of offering a fully furnished short-term property for rent. A fully-furnished short-term rental can be used as corporate housing and can command nearly three times the rent, creates less wear and tear (no furniture constantly being moved in and out) and attracts high quality renters (typically traveling executives).

Collect testimonials/references: A competitive renter’s market means potential renters are getting more finicky about who they rent from. Today’s renters want to work with professional landlords and don’t want to have to train a newbie landlord to do the job right. Ask current and former renters to write you a short letter of reference testifying that they enjoyed their stay at your home and that you were amicable to work with. This little effort will make your rental property stand out to future renters.

Utilize a combination of marketing efforts: Don’t rely on one tactic (i.e., placing a For Rent sign in your yard) to get your place rented. A combination of various strategic marketing efforts will ensure your place is always front and center. Some ideas for marketing your property include: websites that specialize in rental properties, Classifieds, Craigslist, flyers distributed to local universities, hospitals and military bases, keeping in touch with past renters (they may come back or refer a future renter to you), etc.

Be picture perfect: Nothing turns off a potential renter more than poor photos. Photograph your property in good lighting (natural sunlight is the best) and capture your property’s focal points in greater detail (kitchen, high-end furnishings, etc.).

Pulling out all the stops to ensure your property earns high annual occupancy levels takes some time and commitment – but is typically well worth the effort. Remember, with a little sweat marketing equity, your investment property will continue to be quite lucrative in 2014 and beyond!

This entry was posted in Ideas & Tips, Marketing a Rental and tagged , by Kimberly Smith. Bookmark the permalink.

About Kimberly Smith

Kimberly Smith is an accomplished entrepreneur and businesswoman with more than 20 years experience in the real estate and corporate housing industries.

In 1999 Kimberly and her husband and business partner, Eric, started AvenueWest Corporate Housing, Inc., that today is a multi-million dollar company providing furnished corporate housing and property management services to upscale business travelers. A recognized leader in the industry, they were awarded CHPA’s 2010 Provider Company of the Year Award and listed for 3 consecutive years on Inc Magazine’s Inc 5000 list featuring the countries fastest growing businesses.

Inspired to help people find corporate housing and real estate solutions on a national basis, Kimberly and Eric came up with a business idea to create a national web directory dedicated to connecting furnished rental properties with corporate renters. In 2006 the couple launched CorporateHousingbyOwner.com (CHBO), the first-of-its-kind online portal that connects furnished rentals and the traveling public. In 2013 CHBO was recognized by CHPA as the Associate Company of the Year.

In 2009, they founded AvenueWest Global Franchise, allowing them to expand the AvenueWest Managed Corporate Housing product throughout the United States. They now have offices in Phoenix, Atlanta, Fort Collins, San Francisco, Boston, Dallas, Denver and Colorado Springs.    

Kimberly continues to lead in the corporate housing industry and served as the 2011 elected Chairman of the Board of Directors for the Corporate Housing Providers Association (CHPA), the primary trade organization for the corporate housing industry. Kimberly has been nationally recognized for her business success and her philanthropic endeavors and is frequently featured in media sources like the NYTimes, LA Times, Denver Post, US News & World Report, MSNBC.com, CNBC and SmartMoney.com. She was awarded the 2013 Denver Business Journal’s Outstanding Women in Business award for real estate, small business finalist in 2010, and finalist in the prestigious Power Book special section of The Denver Business Journal, a feature in Denver Woman magazine as an outstanding business woman and mother, in 2009 she was selected to join The Denver Business Journal’s elite class of 40 under 40 and in 2010 and was recognized by CoBiz Magazine as a top 5 GenXYZ leader. In 2012 Kimberly was a finalist for the prestigious NBC 9News Leader of the Year Award.

A graduate of the DMCC Leadership Denver Program 2002, Legacy Denver 2010 and Colorado Experience 2011 & 2012, Kimberly takes time to share her talents by working with numerous organizations and nonprofits. In addition to serving on the Board of Directors for the Corporate Housing Providers Association, she also serves on the Founders Committee for the new entrepreneurship center at DU’s Women’s College, ABLE for Women and as a Board Member for Clinica Verde a health and community center in Nicaragua. Kimberly also supports numerous women’s organizations, educational and empowerment programs including an annual fundraiser for Dhaka Weaves a women’s enterprise program in Nepal.

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