We are quickly approaching peak leasing season, so it is time to make sure your ads are in peak condition! Cost and location are typically the most important search criteria for renters. Make sure your rent ranges are up to date, because competitive pricing is critical to your success online.
Here are a few tips for pricing:
1. Ensure your rents are clearly stated and accurate. Avoid using call for pricing, which creates frustration and doubt for renters; and won’t help you pre-qualify your leads.
2. Price Competitively by using sources like Padzing.com and the Apartments.com STaR Report to find out the average rents for each floorplan in your area. Compare your rent ranges to your competitors’ on Apartments.com and other ILSs. Also, monitor economic trends for your area and adjust accordingly.
3. Build trust by being consistent with your rent ranges across all websites and offline, too.
4. Integrate your property management software with ILSs to automate daily rent updates.
Check back for more Quick Tips each month!
