How to advertise for new tenants

Discussion in 'Property Management' started by Angel, 27th Jul, 2017.

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  1. Angel

    Angel Well-Known Member

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    We have a renovation planned that will see our property get a thorough refresh and new carpets over the next few weeks. How do we get new photos for the ads if it wont be ready until a week after the current tenants vacate? They vacate in two more weeks and the house is not ready for fresh photos at this time.

    We have the professional photos from when we bought it in 2010 (not a fan), and it has been suggested to just take new photos of the outdoor areas, sunny family room and such things rather than bedrooms and the not-yet renovated bathroom.

    I will ask my PM the same question tomorrow, just wondering what the collective brains trust here thinks.
     
  2. SeafordSunshine

    SeafordSunshine Well-Known Member

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    Dear Angel,
    my agent used the old 'pre paint job photos'
    I was not a happy bunny...
    Make sure they only use 'fabulous pics'
    Insist Insist Insist on the prettiest pics!
    All the best
     
  3. +men

    +men Well-Known Member

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    I would wait until the renovation completed or almost finish before taking photos and start advertising. I can't see any benefit of showing old photos and advertising early.

    Most tenant like to see and feel the finished product before they put in an application and commit on a lease
     
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  4. Debbie_

    Debbie_ Member

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    I LOVE good pics - they sell the property (or get it rented out quicker for often more money). Everyone looks at the pics first and make a judgement based on that. Hold off, get new pics done and start fresh with everything new. The new pics will carry you through the next few years too so the cost isn't too great.
     
  5. 10773

    10773 Member

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    Hi Angel,
    Professional photos is what sells any property, sales or rentals. I would definitely look at holding off and getting professional photos to show exactly what it looks like. This will give you a good presentation from the start when listing the property on the internet etc.
    Debbie above is right, these pictures can last a few years if need be. I know being an owner and waiting on listing the property ideal situation especially when you want income to come in for the investment. But it will give you a better chance of securing a tenant from the start instead of misleading them with old photos and not advertising it correcting.
    Hope this helps! Good luck with the renovations and finding a new tenant. Fingers cross it doesn't take too long.
    Kind regards,
    Samantha Ellis
     
  6. Angel

    Angel Well-Known Member

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    Even if it means losing two weeks rent or more. ouch.
    I agree to hold off, but it is a hard pill to swallow.

    I have to think about the capital growth rather than a few weeks rent. Having the best photos online when the banks do a desktop valuation makes a big difference :)
     
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  7. SeafordSunshine

    SeafordSunshine Well-Known Member

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    HI Angel,
    I was painting a house and a passer by asked to see it...
    covered in drop sheets..
    I said no wait till XXX day when it's well presented..
    It worked
     
  8. teetotal

    teetotal Well-Known Member

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    Agree its hard pill to swallow, if it is for tenancy then weigh up the options.
    Two weeks lost rent vs expected potential increased rent, For ex. $10/week=$520 or $20/week =$1,040.
    So it depends on your expected loss of 2 weeks rent - is it more or less than the potential increase.
    And in any case if you advertised before and it didn't get tenanted by the time you finished painting, you haven't lost anything. You can now put the new pics online and advertise again.
     
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  9. Tom Rivera

    Tom Rivera Property Manager Business Member

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    Million dollar question!

    The most intense period of enquiry is the first two weeks, often especially in the first couple of days. If you advertise early with sub-par marketing then you risk missing the best interest and running into the period you were hoping to avoid anyway... but what if the right tenant is looking in those first two weeks!

    It all comes down to the individual situation. Given this is a renovation, I'd recommend advertising no more than a week from completion if you must, you don't want to be taking people through during the work anyway- people aren't always very imaginative.
    I would personally have a photographer booked to attend right at completion, then get the vibrant new photos online across a variety of platforms with engaging copy ASAP!!!
     
  10. wylie

    wylie Moderator Staff Member

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    You can always advertise early but in BOLD make sure that you spell out that "this is being done" and "that is being done".

    How much extra rent would you get once the work is completed? How many weeks will it take to make up for being completely empty for two weeks and possibly longer?

    If it would rent for $400 and with work completed you will get $430, maybe advertise somewhere in the middle, make clear it will be sparkling by the time they move in and see what happens?

    (And I agree most people, including me, find it hard to imagine how it will scrub up after the reno... and I KNOW it will look so much better.) But to lose rent of $400 over the risk of losing $30 per week seems a risk to me.

    I'd rather have $400 per week for something I "could" get $430 for but which is sitting empty, and increase it after six months.
     
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