Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Multi-Family and Apartment Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 1 year ago,

User Stats

6
Posts
2
Votes
William Allen Ball
2
Votes |
6
Posts

Strategies to attract tenants to townhomes/ apartments

Posted

We are building 32 townhomes (8- 4plex).  We have an agent on site and host open houses every Saturday.  We have done a lot of advertising and marketing on social and Google ads .  We know our rent rate is at the top end of the range for the area, but not over the top.  We are still in construction on parts of the complex but have 12 units ready and 4 of them are rented.  Our problem is that we are struggling to bring people in to even look at them.  My question is about incentives/ enticements or just biting the bullet and lowering the rent.  We already have washer and dryer included with each unit, granite throughout, stainless appliances.

We have considered things like free wifi or first months rent 1/2 off, but not sure if that is enough to drive interest. We are at the point of considering to lower the rent rate by $100, but this makes our DCR (which is already lower than the bank wants) that much lower..

I am looking for advice on what others have done to drive traffic and convert lookers to tenants.

Thank you in advance !

Loading replies...