Vacant rental properties can be extremely expensive for a property investor. If a vacancy lasts for upward of a couple months it could cost you a whole year’s worth of earnings if, because of the reduced cash flow, you needed to make mortgage settlements for your property. Help yourself find qualified residents more quickly by drawing their gaze to your property by utilizing a good signage strategy.
Getting signage that properly attracts attention is one of the fundamental ways to draw residents to your property. If your “For Rent” sign is hard to find, difficult to read, or is simply unappealing to look at, it could prevent you from finding your ideal resident to lease to. The more you do to make the process of finding your property and learning more about it easier, the less time you’ll spend filling your vacant rental properties.
Attract residents by displaying a professional “For Rent” sign. A professional sign should have a simple, minimalist, yet impressive design. Some owners try to get away with scrap plywood or cardboard signs that are propped against the mailbox with sloppy handwriting and their phone number scribbled somewhere on it. You’re better than that! You could find a sign at a hardware store but these signs tend to limit the amount of available space for information. A professional property management company will have taken the time and made the effort to use high-quality material and a well-considered strategy to target and reach their desired potential renters.
The ultimate goal behind signage is to convey information, but beyond that you want it to be easy to assimilate so that passersby will gain and retain the information with a glance. Inexperienced owners tend to put “For Rent” signs in the window or somewhere near the house which can result in longer vacancies. However, the best way to help your sign be most visible to prospective renters is to place it as close to the street as possible. You should also make sure to place the sign in an area that is as open and clutter-free as possible so it can stand out easily. Once you have your sign in a clean and clear area, consider putting balloons or ribbons or something to help make it “pop” when compared to the traditional yard signage. A combination of great signage and aesthetically pleasing curb appeal will go a long way towards attracting potential residents.
Include Important Details
Provide the details of your property like the number of bedrooms and bathrooms, total monthly rent, whether utilities are covered, and your contact information. If there’s more room on the sign, consider including area information, recent upgrades and improvements you’ve made on the property, or anything else that might make the property stand out above the rest. If your sign doesn’t have enough room, consider attaching a flyer holder with handouts. Be sure that regardless of whatever additional information you include you also provide exactly what was on your sign!
As bare a no-frills sign may look, it can be tremendously effective in attracting potential residents provided the signage was enough to get them to contact you. Sometimes learning the details of a property from in an actual conversation can mean all the difference. Be friendly! Before executing any particular strategy, consider viewing it as an experiment so that you remove emotion from any lackluster performance. While you may have spent many sleepless nights working to create something “just right,” try to ascertain what works for your community.
If you are interested in having your property managed by Real Property Management Investment Solutions, have more questions, or just want to speak to one of our team members, then contact us online or call us directly at 616-419-8880 today!
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.