A vacant investment property will make no money.
In fact, it will cost you money in taxes and marketing efforts.
So, it is best to come up with a solid plan to find a tenant so that you can uncover the profits in your Park City real estate investment.
A qualified Park City property manager will have a variety of methods to get the word out about your investment property.
This includes a multi-media strategy that makes sure the property is listed in several online sites, most notable Craigslist. They also know the printed publications that work best as well.
Getting to Know Park City Tenants
Sometimes the best marketing strategy involves a more personal touch, like a phone call or knock on the door.
In Park City, a great renter may include a family looking for a place to stay during a ski vacation. Or, the tenant may want to spend more time in the area after securing seasonal work.
Finding these folks is often a matter of asking how they found your property. This will steer you to the publications and sites that prospective tenants with similar interests tend to gravitate.
A qualified property manager will ask if the tenant knows of similar families or individuals that like them want to spend some time in Park City. Incentives work as well. If cash is involved a tenant is more than happy to be your eyes and ears.
Please Your Park City Tenants
And for relationship to develop, it’s important to keep the tenant happy. A quality renter will only say good things about your investment property if it is being kept in working order.
This means being attentive to things like making repairs – even small ones – in order to keep that tenant happy to stay.
And this gets to another important marketing strategy.
Keep the tenant happy with your Park City property and they won’t want to leave. This is basically dabbling in the art of marketing without actually marketing.
A great property manager will have a well-oiled plan to keep your investment property in the best shape it can be, which will include a checklist items that need repair or upgrading. This attention to detail is what pleases tenants.
They are more apt to look for another property if there are flaws in the property that are ignored.
Low-Tech Ways to Market a Park City Property
Even though your property manager likely has a solid marketing strategy, there will be times that the property will sit vacant.
This is when doing the little things will boost the chances of finding a great tenant. This includes putting “for rent” sign in the window or on the lawn.
This allows your rental property to market itself, letting neighbors and passersby know your intentions
It is also helpful to have an attentive property manager react quickly when someone expresses interest in your Park City investment property. There is nothing worse than letting potential tenants fall through the cracks.
With this in mind, it is always a good idea to ask about a property manager’s strategy for dealing with interested tenants that reach out to them. Look for that property manager to have a solid plan that lets them keeps communications with prospective tenants ongoing.
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