Move-in Specials

[Tony M]

As of late my vacancy has increased a bit at my apartment complex. I'd like to hear some incentives others have offered to attract renters. How did they work for you?

I'm not a fan of offering 1 month free...everyone seems to do that.

Thanks,
Tony

[Mark Yuschak]

I like offering a free application fee. Then, when I screen I start with the free checks first. If they don't pass those, it really hasn't cost me anything. And, it's perceived as me doing something for nothing to the applicant.

The other thing I like doing is with existing tenants... Have them refer a tenant to any one of your properties. If that prospect checks out, signs a lease, and stays for one year and pays on time with no issues, then the tenant who referred them gets half off one month rent on the referred tenant's anniversary. You then have a vested interest from two tenants to pay on time and occupy two units....and it only costs you a half month rent.