Read CHBO’s secrets to getting and keeping quality corporate housing renters
1. Use special incentives to entice renters. Think about what bonus incentives you can offer to entice a wavering renter. Offer a free train or bus pass, access to the neighborhood gym, or weekly maid service. Such incentives may be ones that competing properties in your area don’t offer, thereby setting you apart from the pack.
2. Include all amenities in your listing. Don’t undersell the value of your rental! If you have an amenity in your home (like a hot tub, incredible views of the city, or a wine cellar, etc.), mention it in your listing! You may alienate a potential renter just by excluding something as simple as a coffeemaker from your listing.
3. Don’t cut your marketing budget. While it may seem easy to stop spending on marketing your corporate property, a slow economy is the worst time to retreat. The key is to make the marketing dollars you have work harder for you and eliminate only efforts that don’t net you a profit.
4. Be prompt. You should return all emails and phone calls promptly. Most tenants will send inquiries to several listings at once – and the early bird gets the worm! Include an alternative phone number on your listing and activate your text messaging alerts to get notified immediately of a new inquiry to your listing.
5. Build rapport with past guests. Be sure to keep in touch with past tenants. Chances are they may visit your city again and your property will be top of mind when they’re looking for a place to stay. You could even create a monthly email you send to previous tenants with information about your property and specials.