Rental Apartment Tips 101: Key Marketing Tactics

In our ongoing series of articles and blogs about the best ways to succeed with corporate housing investments, we cover a lot of different issues. In this article, we are going to look at some of the most trusted and sure-fire ways to market your properties, including a few rental apartment tips you may not yet have considered.

Corporate rental tactics

  1. Never stop marketing – One of the worst mistakes made when offering corporate housing is to remove listings when the properties are rented. Just like any other product, the only way to get new buyers is to constantly market the goods. As a previous article in this series indicated, ” in today’s housing market; always be looking for your next renter.
  2. Offer furnished corporate housing – Though corporate renters are usually extended stay rather than annual lease signers, they rarely find premium turnkey premises to let. You can give yourself a serious advantage by offering fully furnished spaces. These attract some of the finest renters, making this one of the savviest rental apartment tips to follow.
  3. Incentivize your property – While furnishing your corporate housing is a key to success; allowing you to market it as such, don’t forget to have welcome incentives. This might be membership to the neighborhood gym, monthly housekeeping services, and so on.
  4. Make the most of happy clients – The modern internet makes it important that you garner as much praise and positive feedback as possible. One of the key rental apartment tips is to offer up those testimonials on the rental pages or other marketing materials.
  5. Be honest in your photos – Marketing is meant to bring interested buyers to you and then help close the deal. However, if you practice dishonest tactics it can come back to haunt you. One of the more common mistakes you might make is to overpromise with bloated descriptions that sing false praises and the use of photos that were done in a strategic manner. These are images that make the space look far better than it might in real life. For example, using artificial lights to flood spaces and make them appear much brighter than they ever will be or staging rooms with props, artwork and even furnishings that do not actually belong there. These set your renters up for disappointment and often earn you a negative review.
  6. Diversify – One of the best tips for marketing your corporate housing is to avoid the old “eggs in one basket” hazard by diversifying your marketing channels. Begin with a targeted approach, such as a CHBO listing, and then build a website with blogs and social media, as well as speaking with real estate experts in your area.

These simple tips and tactics can really turn around your marketing results in the coming year.

The Impact of Lighting on Your Corporate Rentals

Lights in corporate housing

Though we supply lots of rental apartment tips for our corporate rentals clients at CHBO, we want to address the matter of lighting in this article. It is far more vital to the success of your corporate rentals than you might realize, and this is true of the images you supply as well as the actual spaces themselves. So, let’s take a quick look at some of the most potent home and rental apartment tips where lighting is concerned.

Before we do, just a quick word about the significance of proper and quality lighting in corporate rentals, because many don’t realize what lighting says about the space. To prove that point, we’ll share a brief tale from someone who found their extended stay lighting confusing and unsatisfactory, leading them to leave a negative review and discourage others from using the same provider.

Essentially, it boiled down to this: The corporate traveler was going to spend three weeks in an extended stay property. Given a key card upon arrival, they entered the unit and found light switches that did not work. They stumbled around in the dark, but no luck. They then asked a maintenance person in a nearby hall about it and discovered an odd fixture by the door that required the key card to be kept in place if the lights were to work! Obviously, this sort of controlled lighting saved the property owner a lot on wasted energy, but was a huge hassle for the renter and one of the main reasons for this to appear in our list of top rental apartment tips.

So, rule one about corporate rentals and lighting is this: Make it simple and easy to use!

Vintage Electric Lights in corporate rental

Other Rental Apartment Tips for Lighting

To ensure your corporate rentals do have the best lighting, we can look at suggestions from experts, including professional interior designers. They know all of the best methods for turning even darker corners into perfectly lit, appealing spaces. Of course, they have their own rules, and we are going to use them for our home and rental apartment tips, too.

  • Start with the purpose of the lighting – Your primary focus should not be “hey that lamp looks cool” but instead “how is this fixture going to direct light” and deciding whether or not it can meet the needs of that specific spot. As an example, a pendant light above a work space looks good and lights well.
  • Think in layers – In a previous story about lighting for corporate rentals, the author reminded readers that “a great lighting scheme is a layered affair…thinking about the different qualities of light…the type of light you want…[and] where and how you want to focus that light.” In other words, the light bulbs first and then the fixtures to aim that light.
  • Think from the top down – One of the best lighting for home and rental apartment tips available is to consider your lighting scenarios from the top down. As one expert noted, “Overhead fixtures exist to provide general or ambient lighting that covers the room,” but can be called upon to actually define or create a space. As an example, an overhead fixture in a dining room creates a light that is entirely different than an overhead fixture in the kitchen.

The point is to think about that layered use of lighting and how to generate what you require with the bulbs and fixtures available. For instance, recessed lighting in a kitchen can be coupled with hanging fixtures for more intense, “spot” lighting in work areas. And bulbs can always be chosen to ensure the best results.

Dining rooms are ideal spaces for smaller, pendant lights that give a more “sprayed” array of controllable lighting as well as small table lamps on the sideboard and accent lighting on the walls.

Bathroom lighting is also going to benefit from the layering and top down approach where corporate rentals are concerned. You always need strong light in the vanity areas, making pendants a nice option. However, one of the key home and rental apartment tips for bathroom lighting is to opt for controllable lighting such as fixtures with dimmers, and even LED lighting (including “rope” lighting) for more muted effects.

Bedrooms always benefit from layered lighting, and may not be well suited to overhead fixtures. Instead, you may want to use an array of shaded table and floor lamps along with wall-mounted pendants to create pools of light and create a low-key mood in any sleeping space.

  • Living rooms are different – In your corporate rentals, your living or family room lighting scenarios need to be flexible and functional. After all, this is a room where you might play board games, watch TV, socialize or relax with a good book. That is why experts say that some of the best home and rental apartment tips for living room lighting include the use of recessed halogen and spot lighting layered with floor and table lamps and even track lighting.
  • Affordable options- A final tip for corporate rentals is to start off by adding fixtures with dimmers to every space. This lets you slowly design and implement the ideal lighting schemes without also breaking your budget. As one expert said, dimmers “allow you to transition from ambient to task to accent lighting with the slide of a switch”.

Hopefully these simple home and rental apartment tips for optimal lighting can help you to make your properties home-like and functional spaces that also run as cost effective solutions for all.

Should You Market Your Corporate Rental to Homeowners?

Choosing the right real estate property

In one of our articles from a few years ago, we addressed the issue of whether your homeowners insurance would pay for extended stay lodging in the event your home became unlivable. The long and short if it was that not all insurers do provide this coverage, but since that time many have added such provisions.

After all, with more and more areas experiencing extremes in weather, more and more homes are damaged by flood, fire, water and wind or lightning. This can sometimes force homeowners out for lengthy periods while repairs are made (up to six months at a time).

Blocks home

So, if you rent your furnished property as a corporate rental, it makes good sense to consider a bit of niche marketing towards homeowners and even insurance agents who offer policies through companies that cover extended stays. And of course, now is the perfect time to consider this new avenue as the summer season is right around the corner, and it is unfortunately the “season for water damage”.

Weather and Your Corporate Rental

Just consider that homeowners may need access to an extended stay due to damages to their home from a severe summer storm (rain, hail, wind, lightning, etc.), due to accidental flooding issues while they were on vacation (burst pipes, plumbing issues, and so on), and ground water problems that cause flooding inside of the home. If you rent your furnished property, it could be precisely the situation a standard household needs after their own home becomes uninhabitable.

This is even more the case if your corporate rental is one that has adequate accommodations for children and families with pets. The property is “turnkey” with the appliances and setting ideally suited to a family suddenly without a home. You can rent your furnished property as a home away from home to a family rather than as a corporate rental and earn the same income since the stay is paid for by insurance coverage.

Marketing Your Corporate Rental

Of course, you may want to know how to rent your furnished property to this unique group. The good news is that it is quite easy when you rely on the CHBO site to support all of your marketing efforts. Insurance providers are already looking into a corporate rental for some policy holders, and you can also get in touch with all of your area insurance agencies to alert them to the fact that you do rent your furnished property to more than corporate clients.

It is not at all difficult to develop new potential streams of income for your corporate rental, and homeowners in need of extended stay options may be that untapped market you have been needing.