If you think it’s harder to rent out your
property than ever before, you’re not imagining it.
Not only are
there fewer international migrants renting due to border restrictions, but many
short-term rentals have converted to long-term.
While rents have held up in some areas, prices
in some cities have taken a downturn.
But instead
of a race to the bottom, there are other ways to attract the right tenant.
Pivot your target market
Many
people have faced changing situations this year, and a property they may have
never considered living in the past may be more attractive to them now. Some
renters may want to downsize, upsize to include an office, or live closer to
amenities.
A shift from
people who wouldn’t have looked in the city, now looking in the city because
the rents have come down, All of a sudden, it’s an attractive option. Prior to
this, they may have been priced out of this market.
An uplift in
local tenants, whereas previously we’d rely heavily on corporate workers and international
students, the people who just aren’t here right now.
RealRenta has all the tools that a property manager
has, but at over ¼ the cost of a property manager.
Join now and the cost is less than a cup of coffee a
week to manage your rental property
RealRenta also has a free vision, so why not check it
out
Jason Gwerder
Monday, 10 May 2021
