After the winter hibernation, the housing market is back in action. Most one-year leases are up, tax checks are in, and people are going to be looking for places to live. Now that you have prepared your property for spring, it’s time to get your team prepared. While you should have been preparing in late winter, it’s never to late to start to make sure your spring starts off right!
As the weather starts to warm up, especially in the Midwest, activity will increase. During the winter months, showings later in the day were pretty much obsolete because of the extreme temperatures. Being available will keep current tenants happy and will keep a steady stream of potential tenants coming in.
Incentives like $200 off first month’s rent, or discounts for signing a 2-year lease, are great ways to attract a crowd. Think about it, there are a ton of rental properties out there, so you have to figure out a way to stand out. What better way to do that than by offering something for a free or discounted price?
The last thing you want to do is watch homes rent while your sitting idle. If you have a home that recently became vacant, make sure you have a quick, but effective turnover. The opportunity for buying homes is also on the rise, so your acquisition team should be doing their do diligence to keep a pool of potential homes to buy.
Signs & Automatic Mailings
There are many ways your acquisitions team can prepare for the spring. Being more diligent about placing signs at your rental properties will increase your company’s visibility. Mailers are also a great way to get an owners attention. Stating that you’ll buy the home in cash and as is, is a great way to make deals happen quick.
Spring is the time to make sure your rental properties have the best curb appeal possible. Having a scheduled mowing list will make sure you don’t end up with a grass jungle in the front yard. It’s a time to check your basement for dampness that could lead to mold. Having a clear list for your maintenance team will all but ensure that your house are move in ready.
Now that you have your rental properties in great shape and your team clicking on all cylinders, you are ready to take on the spring and summer!