Why should I rent your apartment versus all others out in the marketplace? Keep in mind this is a question that is going to be in the back of your tenant’s minds when you’re looking for tenants and also your existing tenants. You see there is competition for the tenant you’re looking for and that will always be the case. However, if you answer this question effectively for the new tenant that would be coming into your apartment or commercial investment property, you will not have a problem in getting good tenants and keeping your space filled more often than not. Remember, it’s not always about price. Price is important and tenants do have budgets, etc., however, many other things into it for a tenant as well: cleanliness, nice neighbors, convenience, close to things they like to do, (movies, shopping, etc.), close to their home, desirable location, prestigious location, etc.

We could go on and on regarding reasons why a tenant should lease your apartment property. However, make no mistake they’re not only asking this before and when they move into your space, but they’re also asking it when they’re in the apartment as well. When you get a good tenant, you want to keep a hold of them as long as you possibly can, of course, raising the rent over time. Obviously, if you have an apartment building that has six tenants and you can keep those six tenants for a number of years without any turnover, you have saved a substantial amount of cost and a substantial amount of time, because remember your time is worth money. Read the rest of this entry »