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Tenant Finding Tips |
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We at frbo have a lot of experience of finding tenants quickly, and we'd like to pass it on. So we've assembled a selection of practical tips. Subjects include items like 'Successful classifed advertising', 'Viewings - a 6 point plan', 'Top ten classified Desire phrases', 'The A/B advertising strategy'.
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Successful classified advertising |
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When writing classified ads, you should first clearly state the area where the property is located. Then subtely and succintly use the proven AIDA method for the rest of the ad. AIDA stands for Attention, Interest, Desire and Action. Here's an example -
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Preparing for telephone enquiries |
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Before receiving calls from prospective tenants, jot down a list of 5 good things about the property, and put the list next to the phone. Or even better, print out a copy of your individual web page, and highlight the best features of your property. Whichever ever way you pick, when you answer the call, you're ready with good, positive things to say about your property.
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Viewings - a 6 point plan |
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1 When you meet the tenant, point out any advantages of the location, for instance how easy it is to commute to town, the shops are just round the corner, etc.
2 On entering the property, if it's dark, turn on as many lights as possible. There's nothing worse than dark corners to put people off. As you go round the property remark on any good points - skip over anything that's a minor bad point.
3 Don't forget a few minor words of encouragement. It may not be the car salesroom, but it's a good idea to say something like 'it's a great place to come home to at the end of the day - cosy, warm and quiet'.
4 Answer any questions fully, honestly and with good humour.
5 Show interest about their job, and ask a few simple questions about their workplace. Make sure they know about the deposit and one month's rent in advance. Check they're happy with the minimum rental term, and find out if they've any timescales in mind for the tenancy. If you're renting to a group, say that you'll have to meet everyone if there's interest.
6 Make sure they have your contact details, and be cheerful in saying goodbye.
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Top ten classified Desire phrases |
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Here's our personal top ten list:
Don't miss this one!
Must be seen to appreciate
Viewing recommended
Be quick
First to see will take
Super value
Safe and secure
Interested?
Tired of looking?
Live the good life
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The A/B advertising strategy |
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Unless you're onto a sure fire method of advertising your rental property, consider the A/B advertising strategy. This is commonly used by advertisers for all sorts of products, but applies just as well to your rental.
Firstly identify your best way of advertising, and call this A.
Don't be content to use A continually; a little research will suggest to you another alternative method - especially one you see others using - they will have found at their own expense methods which produce good results.
Call this alternative method B.
When you need to find tenants, run A and B together.
If B produces better results than A, make a note of this. Then next time, think about dropping A and replacing it with another A method, whilst keeping B. Likewise if B fails to perform, replace it and keep A.
This 'survival of the fittest' strategy will help to make your advertising effective and efficient.
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