How to Raise the Rent - The American Dream Redefined |
By Drew DeMasters Author of Landlord Marketing Secrets A recent survey found that more than a quarter of Americans currently renting houses and apartments have no intention to ever buy a home. The survey, by real estate search site Trulia.com, found 27 percent of renters do not plan to ever buy a home. Although 72 percent still expect to buy eventually, that proportion is down from 77 percent just six months ago. So, is the American Dream of owning a home fading away? No. But it is being redefined. People are taking an extra hard look at the pros and cons of home ownership. And for many, renting a place that really fits their needs is the dream. This is an opportunity for landlords! It means three things:
The survey also found that of those who do hope to become homeowners, two thirds say they will wait two years or more. So, start engaging with your tenants today to build a more successful landlord-tenant relationship. It's a win-win for both of you! But what does it mean to "engage your tenants?" Well, start by communicating. Call your tenants or drop by to see if they have any new needs. You just might learn that they are expecting a new baby, have bought a new car, or recently started a new job. Be opportunistic and think of you how you can make money by responding to new and evolving needs of your tenants
Some examples -
These are ways that the best landlords keep good tenants. And keep them happy. It’s so rare in the rental industry to find a landlord who thinks from this perspective. But you can be the first and gain a huge advantage over every other landlord in your market as many of your tenants live out their own American Dream in one of your properties!
Drew DeMasters is a landlord, author and award-winning marketing strategist with 15+ years in the rental
business. His new book is now available at www.landlordmarketingsecrets.com |
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