Fill up those empty units by marketing your property the right way. You’ll need to go beyond the faded “For Rent” sign near your building in order to get the word out – and we’re here to help you do just that.

Read on for 8 fantastic marketing strategies that will help you fill up those vacancies fast!

1. Identify your target audience

If you try to appeal to everyone, you’ll end up appealing to no one. That’s why it’s crucial that you identify and understand your target audience before you market your rentals. Spend some time studying neighborhood trends and amenities. What kind of age group would be interested in your property? Is your location super-convenient for a specific profession or industry?  Once you’ve identified your target audience, you can speak their language when you market your property.

2. Market where your target renter hangs out

Now that you’ve identified your target audience, think about where they might like to spend their spare time and what kind of websites or apps they might be using. Advertise in these places to reach the people you’re trying to attract. Consider an ad in a local movie theater, on ridesharing apps like Uber, on popular neighborhood blogs, and in universities and coffee shops.

3. Get social

Social media is more than just an inane popularity contest; it’s one of the most effective ways to attract new tenants. Make sure you have an active social media presence and that you freshen up your platforms, blog and web page to keep those visitors coming. Use Instagram and Pinterest for posting updated photos of your properties, LinkedIn for a professional online presence, and Facebook for open correspondences with existing and prospective tenants.

4. Update your curb appeal

You don’t want to turn those renters down before they’ve even stepped inside your building. Make sure your property’s curb appeal is neat and inviting.

Try these suggestions for an updated look:

Slap a fresh coat of paint on the exterior of your property.
Spruce up the façade with outdoor planters full of vibrantly colored flowers.
Add a canopy for a charming touch.
Replace your ancient, dated signs with a newer, trendy one.

5. Use word of mouth

Word of mouth can be a tremendously rewarding marketing technique. Harness its power by encouraging a positive buzz about your properties. Offer your existing tenants rewards or bonuses for referring their friends and ask them to post positive reviews and recommendations on your online platforms. Treat them respectfully and kindly so that they’ll be more likely to recommend your building to their friends.

6. Advertise in the right places

In today’s digital world, the classified ad that announces a rental vacancy is completely passé. Instead, make sure your vacancy is listed on online forums like Craigslist.com, Zillow.com, HotPads.com, Rent.com, Apartments.com and similar sites.

7. Support local merchants in exchange for free advertising

Set up a bartering system with local businesses and you’ll both benefit from the deal. Include information about these merchants in your welcome packet for new tenants and offer them complimentary advertising on your online platforms in exchange for free advertising in their locations. You’ll reach a broader audience without spending a penny.

8. Choose the right property management company

If you outsource your property management, make sure you are using a company that has excellent branding. The best kind of marketing a management company can do for you is to offer a specific “cool factor.” This can be something as simple as greener living for renters, complete with solar-powered electricity and recycling programs. Another “cool factor” is for your management company to brand you as offering pre-leasing. This tells prospective tenants that your apartments are so desirable that people want to sign leases for them even before they can move in.

Use our handy tips to fill up those vacancies and stop losing money on empty apartments!

The post 8 Marketing Strategies to Help You Rent Your Property appeared first on Jack Jaffa & Associates.

But how do you keep your tenants happy?

At Jack Jaffa & Associates, we’re committed to your success. To help you hold onto your tenants, we’ve compiled a handy list of 10 ways to be the best landlord ever.

1. Screen your tenants carefully

Before you can work on treating them right, make sure you choose responsible, conscientious tenants. Call references and meet with every tenant in person before making a decision. You want your tenants to make your job easier and to keep the atmosphere of the property pleasant and clean.

2. Hand-pick your managers

 If you own multiple rentals, you’ll probably need to outsource your property management. Be super careful about the company you choose to do this job. A manager will not be personally invested in the property’s success the way you are; make sure they’re competent enough to do the job well.

3. Keep it clean, safe and secure

One of the biggest turnoffs to existing and potential tenants is a poorly-kept property. No one wants to live in a dirty, unkempt building. Make sure the exteriors and interiors of your properties are kept meticulously clean and free of debris. Floors should be washed regularly and all garbage around the building should be disposed of promptly.

It’s equally important to keep your properties safe and secure. Make sure your smoke and carbon monoxide detectors are working properly, your building locks are secure, and your HVAC systems are functioning optimally.

Lastly, your properties should be fully compliant with all NYC housing codes. If you’re not absolutely positive you can pass any kind of inspection, be sure to give us a call. At Jack Jaffa & Associates we’ll have you fully compliant with NYC law in no time!

4. Make repairs promptly

Your tenants want to feel cared for and respected. When one of them notifies you of a broken appliance, a leaky pipe, or a defunct furnace, take action as soon as possible. Nothing makes a disgruntled tenant like ignored complaints about a dripping sink or a useless washing machine.

 5. Respect their privacy

Respect the privacy of your tenants. To you, it may be one of your dozens of rental properties, but to them, it’s home. Make sure you notify your tenants well in advance of any visits or inspections. It’s best to provide them with a minimum of 24 hours’ notice before coming to call.

6. Go the extra mile

Don’t just be a good landlord, be a fantastic one! Try to go the extra mile with some of these ideas:

• Put out a welcome note for your new tenants. You can include general information about the neighborhood and local businesses, along with your own contact details.
• Host an annual building event. Whether it’s a barbecue at a local park or a quick get-together in your own place, it will create a feeling of family among your tenants.
• Contact your new tenants one month after they’ve moved in. Ask them about the rental and assure that everything is in working order.

7. Conduct regular inspections

Most landlords fall into the habit of sprucing up their properties only when they are vacant. Get ahead of the game by scheduling routine inspections of your units. Take note of anything that needs repair or maintenance, like a broken appliance, torn carpeting, or peeling paint. This way, you’ll keep your rental properties in perfect condition and looking spiffy at all times.

8. Implement a reward system

As in every business, it’s important to show your customers – or in this case, your tenants – how much you appreciate their patronage. If you have several long-time tenants, consider implementing a reward system. You can offer complimentary carpet-cleaning, painting, or even new furnishings for an extended lease. Promise a free month’s rent for all referrals that end in a newly signed lease. You can also gift your tenants with a small holiday present to show your appreciation for their loyalty.

9. Put it in writing

Prepare your lease document carefully. The lease should detail all of your expectations and responsibilities as a landlord, including the rent collection procedure, property usage, maintenance, repairs, inspections, conflict resolution, lease terminations and evictions.

Having your expectations in writing will help you avoid disagreements and misunderstandings later.

10. Be professional, not personal

If you want your tenants to respect your property, first they need to respect you. Always be friendly and courteous to your tenants but maintain a professional distance. Never indulge in building gossip or engage in overly casual conversation.

By respecting your tenants and their properties, you can be the best landlord ever!

The post 10 Ways to be an Awesome Landlord appeared first on Jack Jaffa & Associates.

Tenants who don’t fall into these categories can be nightmares for landlords. Without properly researching your tenants, you can be stuck with renters who trash your property or are notoriously late with the rent. Even worse, you can find yourself with squatters who refuse to leave and refuse to pay you a single cent.

How can you be sure you’ve chosen the right tenants? Is there a way to check whether a potential renter is who they say they are? What qualities should you be looking for in a tenant?

So many questions – but we’ve got the answers! To make this task easier for you, we’ve compiled a handy list of dos and don’ts to keep in mind when you’re searching for tenants.

Do: Screen every prospective tenant

This is more than just asking for a reference or two. You’re going to have to do extensive research if you want to have trustworthy tenants.

It’s best to create a rental application which will give you all the information you’ll need. Include the following criteria on your application:

• Applicant’s job, direct supervisor, and annual income

• Applicant’s current address

• Contact information for applicant’s previous landlord

• Government identification

• Names and numbers of friends and family members

This information will allow you to gain a clear understanding of who your tenant is. Also, by asking for details on the applicant’s family members and friends, you’ll have someone to contact if the tenant does a disappearing act.

Don’t: Fall for tenant scams

In our digital age, it’s easy for someone to create a fake life for themselves. For a landlord, this can translate into fake documents for a prospective tenant, leading the landlord to believe the renter is someone he is not.

After a month or two, the rent checks will start bouncing. When the landlord approaches the tenant for a new one, the renter will start complaining about horrible property conditions and refuse to pay the rent. The landlord now has a squatter on his hands and is stuck losing money each month.

Don’t be the next victim! Here’s how to protect yourself:

Don’t rely on credit reports. They are not a clear indicator of a prospective tenant’s financial standing. Ask for genuine proof of income.

Don’t take any documents at face value. Sure, the guy provided you with an electric bill to prove his last place of residence and a pay stub to show he’s gainfully employed. But how do you know those documents aren’t falsified? Check addresses and business names online to make sure you’re getting the real deal.

Do: Look for red flags

The best way to ascertain a tenant’s character is by being alert and aware. Be on the lookout for any red flags in the application process and when the prospective tenant comes by for a property check.

Is the listed income too high for the tenant’s appearance or job description?

Did the tenant show up unfashionably late for the property check?

Are there gaps in the tenant’s rental history?

Are the tenant’s children unusually rowdy?

Pay attention to every detail now to avoid disappointment later.

Don’t: Accept employer’s checks

In yet another tenant scam, a prospective renter will tell you he’s moving to your location for a job. His employer will send you a check for the first month’s rent, only the check is made out for a much larger amount than you need. The tenant will then ask you to pay him the difference before you cash the check.  Of course, by the time you send him the change, he will be long gone. Worse yet, when you try to cash the check, it’ll bounce.

Avoid these scams by refusing to accept any checks from a prospective tenant’s “employer.”

Do: Create a comprehensive residential tenancy agreement

This document will establish the terms of the working relationship between you and your tenant. Get as detailed as possible. Having everyone’s rights and responsibilities clearly documented can ultimately prevent disaster. You’ll have this agreement on hand to refer to in case of any challenges or disagreements that arise.

Before you sign up with any tenant, make sure they check out!

The post Our Guide to Finding the Right Tenants appeared first on Jack Jaffa & Associates.