Investing real estate in Chattanooga is a booming business and rental property owners in the area are smiling all the way to the bank. However, it is worth noting that the real estate market in the area is highly competitive and property owners should advertise their properties extensively to reach out to possible renters. Remember that you are not alone in the industry and you need to convince tenants that your properties are the area.
You can choose to advertise the property by yourself of hire a Chattanooga property management company to help you. However, hiring a property management company to help you is more effective, especially if you are new in the industry, have limited time or if you doubt your marketing skills. Here are some basic tips on advertising your rental property in Chattanooga that you should consider and some of the things that you should expect a property management Chattanooga Company to do for you if you hire one.
List the location of your rental property and contact information
Chattanooga is such a huge city and not everyone is conversant with the city streets and its suburbs. It is therefore important to mention the specific location of your rental property so that it can be an essay for potential tenants to trace it. You can use the GPS technology to put the actual address of your property and some key landmarks near it. It is very important to list some contact such as your email and phone so that possible tenants can easily reach you for more details.
Mention date and time when the property is open for viewing
It is important to mention the date and time when your rental property is open for viewing. Remember that some tenants would like to see every unit in the house before deciding whether it meets their requirements or not. It is important to set a specific date and time when your house is open for viewing to avoid inconveniencing them.
Make sure you set the right rent
It is very important to set the right rent when advertising your rental properties in Chattanooga. Tenants in the area are very concerned about what they required to pay and it is important to charge the market rate or something slightly less if you want to make your properties more competitive. It is also important to check with your state laws to see what they have set as the cap rent and security deposits that you can ask from tenants. Remember that setting too high rent will scare potential tenants and a very low rent will result in losses.
Include the size and special features of your rental property
It is very important to mention the size and special features of your rental home when advertising it. In many cases, property owners only mention the square footage of their rental homes, but it is important to mention small units in the home so that possible renters can have a clear picture of the layout and dimensions of the property. You can also mention some special features such new appliances, patios/decks, dishwashers, and other features that you feel will make your property more appealing to potential tenants.
Number of tenants allowed and pets
It is very important to mention the number of tenants allowed in your rental home based on the number of bedrooms. You should also clarify whether you allow pets in your property and if tenants with pets are charged any extra fees.