Renting out a condominium property is not a walk in the park. High rise condos are being built left and right and there are a number of rental units that have been sitting in the market for a long time, losing value every day. However, this does not mean that you can’t be a successful landlord. If you know how to market your rental property, you’ll find the experience rewarding and profitable.
Experts in leasing out high rise condos weigh in on the best practices in marketing these urban properties. Here are five tips you can easily implement.
Sell the Lifestyle
Urban dwellers are becoming more sophisticated nowadays. Gone are the days when a home is merely a roof over one’s head. One’s address is an important status symbol, a representation of his or her achievements and a testament to the lifestyle he or she lives. Sure, renters still care about a condo’s square footage and other physical details, but what’s more important is the lifestyle associated with it. Why do you think 90210 is such a coveted zip code? It’s because of the lifestyle that comes with it.
Tell potential tenants how your rental condo is the choice address among emerging executives or how it epitomizes artistic living. In talking with potential renters, use buzzwords representing the lifestyle that your condo stands for – young, dynamic, fashionable, stylish, sophisticated and the list goes on and on.
Your Condo is Only as Good as the City Amenities Surrounding It
One of the reasons that more and more people are moving to the city is the wide array of amenities it presents. The endless strips of restaurants, the booming clubs and sprawling shopping malls, just to name a few, are important features to highlight when marketing your condominium. Living in a home that is just a few steps away from these establishments is a coveted factor of city living.
For example, you can highlight how your rental unit in a trendy high rise condo is situated right in the center of Phoenix’s thriving urban epicenter. How they can wake up and walk to get the best cup of latte in town. Underscore how a restaurant owned and operated by an award-winning chef is just a stone’s throw away. Don’t forget to mention that a huge shopping complex is just a few blocks away. These are the things that will convince potential lessors that they hit the jackpot with your condominium.