Have a rental unit that has been vacant for more than 21 days, and want to accelerate the leasing process? These best practices are ways to find a qualified tenant without compromising standards.
Reduce The Rent
Reducing the rent by just $20 will push the listing to the top of searches, send price reduction notifications, and get additional eyes on your listing.
We recommend $20 reductions every 14 days until leased.
Run a Promotion
Promotions are a great way to beat the competition and entice current leads and future prospects to pull the trigger. PMI will administer this program with your approval at no additional cost, aside from the promotional credits. Some popular promotions are:
- $200-$400 signing bonus when a lease is fully executed.
- Pick a month to get 1/2 off your rent. (December is popular for this promo for Christmas shopping!)
- $50 Monthly Credit for the first 6 months.
- $200 Gift Card at move in (Walmart, Lowes, etc. to help with moving expenses or new furniture etc.)
Run A Referral Campaign
Referral Campaigns are a great way to get more eyes on your listing. PMI will send targeted referral marketing to other PMI tenants in the same neighborhood or city. PMI will administer this with your approval at no additional cost, aside from the referral credits. Referral campaigns leverage the size of PMI and our strong tenant base. Some good examples of referral campaigns include:
- $200 Credit to Referring Resident
- $200 Credit to Referring Resident and $200 Lease signing bonus to the new Resident.
- $25 monthly credit to Referring Resident
Improve The Marketing
PMI provides base level marketing for your property that is included with the leasing fee. This includes:
- A templated description of the property with resident benefits
- Photos of the property taken by a property manager (not a professional photographer)
- These are typically taken on a smartphone camera or tablet camera.
If you would like to enhance the marketing of your property, there are several options available:
- Hire a professional photographer to take photos
- Prices vary based on photographer, typically $200-$400
- Drone photos available, typically an extra expense.
- Get a 360 Tour and / or floor plan in your marketing.
- This can be done free of cost for leasing fees over $1000. It is done by request or recommendation by the Property Manager.
- Cost is $200 for properties under $1000 leasing fee.
Open Up To A Larger Tenant Pool
- Accept pets under PMI's pet policy
- Accept HUD, Section 8, and Assistance programs