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How to sell more real estate with great listing descriptions

Inmannews - Fri, 01/19/2018 - 2:45am
A good property description will open the door for potential buyers. Start implementing these tips today to set your listings apart from the masses and garner more interest from potential buyers ...
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How to build a magnetic social media presence

Inmannews - Fri, 01/19/2018 - 2:30am
Extreme beauty, dynamic personality and social media marketing savvy are just three of the reasons I’ve been stalking Claudine Ellis on Facebook for about a year now — and likely how she became known as a “Dream Girl.” ...
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3 genius ways to split marketing costs with other agents

Inmannews - Fri, 01/19/2018 - 2:15am
One way real estate agents are getting more ROI from their marketing efforts is by teaming up. Planned together, well-thought out marketing endeavors help brand agents and can be lucrative in turning over inventory and earning healthy commissions ...
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6 things blurry vision taught me to see more clearly

Inmannews - Fri, 01/19/2018 - 2:00am
Several months ago, I realized that I was living my life in sort of a faded beauty shot. Everything I looked at had a warm glow around it, and everything was slightly blurry. Bright sunlight washed everything out, and at night, everything was just black ...
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U.S. median home value reaches all-time high

Inmannews - Thu, 01/18/2018 - 2:57pm
The median U.S. home value has risen 6.5 percent year-over-year to an all-time high of $206,300 -- a number that is only expected to increase in 2018, thanks to double-digit decreases in inventory ...
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Watch out for this fake realtor.com leads scam

Inmannews - Thu, 01/18/2018 - 2:39pm
Realtor.com director of corporate communications Christie Farrell says they've reported the scam to the authorities ...
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What to expect when you’re Connecting: last-minute tips

Inmannews - Thu, 01/18/2018 - 2:34pm
It’s time. Inman Connect New York is next week (January 22-26, 2018), and many of our attendees will be traveling this weekend. We can’t wait to share the event with you, and our team here at Inman is busy making all those last minute tweaks to make the event as effective, meaningful and helpful as possible for you ...
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Top NYC team jumps ship to Christie’s International Real Estate

Inmannews - Thu, 01/18/2018 - 2:23pm
Luxury real estate arm of Christie's auction house sets up shop in gallery-style digs with industry-leading Erin Boisson Aries team ...
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Zillow sued over Zestimate display: Making sense of the dispute

Inmannews - Thu, 01/18/2018 - 12:10pm
Whether the suit has legs is yet to be determined, but an antitrust attorney who spoke with Inman about the complaint said he is "not sold" on the claims ...
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New housing construction plunges to lowest level in more than a year

Inmannews - Thu, 01/18/2018 - 9:01am
Driven by a drop in single-family construction, U.S. housing starts plunged in December, marking the biggest decline in new residential construction in a little over a year, according to U.S. Census Bureau statistics released Thursday ...
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How real estate investors can cash in under new tax law

American Apartment Owners Association - Thu, 01/18/2018 - 8:01am

The new federal tax law took away some benefits of homeownership but gave real estate investors a gift they might not be aware of yet.

Owners of investment property — from mom and pop landlords to big-time real estate moguls — could get a federal tax deduction of up to 20 percent of their net rental income for tax years 2018 through 2025. Most people who own shares in real estate investment trusts can also deduct up to 20 percent of their ordinary REIT dividends.

This tax break has been overshadowed by all the wailing over the law’s treatment of homeowners. It will reduce the mortgage interest and property tax deductions for some homeowners, but these new limits do not apply to interest and property taxes on income property.

More importantly, real estate investors get a potentially large tax break they didn’t have before.

It comes under the section of HR1 titled “Deduction for qualified business income of pass-thru entities.” Congress “used the Facebook spelling” of “through,” quipped Paul Bleeg, a partner with accounting firm EisnerAmper.

Bleeg said the new deduction could increase investor demand for real estate, offsetting any potential drop in demand from homeowners.

The pass-through provision is insanely complex, but it essentially lets owners of pass-through entities deduct up to 20 percent of their business income on their personal tax return, subject to certain limits.

Pass-through entities pay no business tax. Instead, their income passes through to their owners and is taxed at their personal tax rates. They include sole proprietorships, partnerships, limited liability companies and S corporations.

In the past, 100 percent of this income was taxed at the owner’s ordinary income tax rate. In the future, some owners can deduct up to 20 percent of it on their federal return (but not their California return unless the state conforms to this provision). Taxpayers won’t have to itemize to claim the new deduction, which will show up on a new line after adjusted gross income, said Mark Luscombe, principal tax and accounting analyst with Wolters Kluwer.

Congress put several limits on the new deduction, which differ depending on the type of business and the owner’s taxable income.

The first limit applies to everyone claiming the 20 percent pass-through deduction. It says your deduction generally cannot be more than 20 percent of your taxable income, excluding capital gains and the pass-through deduction itself. (Taxable income is your household income from all sources minus your deductions.)

If your taxable income is less than $157,500 (single) or $315,000 (married filing jointly), that is the only limit that applies. If your taxable income is above those amounts, then other limits apply, depending on the type of business.

If you are in a “specified service trade or business,” your deduction will be phased out between $157,500 and $207,500 in income (single) or between $315,000 and $415,000 (married filing jointly) according to a fairly simple formula. If your income exceeds the top of the phaseout range, you get no deduction.

Specified service professions include health, law, accounting, actuarial science, performing arts, consulting, athletics, financial and brokerage services or any business where the principal asset “is the reputation or skill” of one or more employees. (Curiously, architects and engineers were excluded from the list.)

This income limit would apply to real estate agents but would not apply to real estate investors because their principal asset is their property, not their skill, said Kenneth Weissenberg, chair of real estate services at EisnerAmper.

If you are not a service professional and your taxable income exceeds $157,500/$315,000, then your pass-through deduction may be limited by a convoluted computation. It says: Your pass-through deduction can’t exceed the greater of either 50 percent of W-2 wages or 25 percent of W-2 wages plus 2.5 percent of the “unadjusted basis” of depreciable assets, which generally means what the owner paid for the assets, excluding land. Real estate investors would be subject to this nutty math if their income exceeds the limit.

To get the deduction, real estate investors must have net income from a property. Many real estate investors have net losses thanks to depreciation, interest, repairs and other expenses.

Suppose Donna is single, earns $100,000 a year working for a tech company, and owns a duplex that generates $20,000 a year in net income. Her taxable income, we’ll assume, is $108,000.

Under the new law, her pass-through deduction would be 20 percent of $20,000 or $4,000. It is not reduced because $4,000 is less than than 20 percent of her taxable income.

Now suppose she makes $200,000 at her tech job and her taxable income including the rental is $208,000. In this case she would have to do the complex computation.

We’ll assume she bought the duplex for $600,000 but $100,000 of that was land value. Her unadjusted basis is $500,000, and 2.5 percent of that is $12,500. She doesn’t pay anyone a salary, so her W-2 wages are zero. Her deduction still is not reduced because $4,000 is less than $12,500.

“The wages and depreciable property limits won’t impact most real investors,” said Stephen L. Nelson, a CPA in Redmond, Wash., who wrote a monograph on the new deduction.

One gray area is whether people who own real estate in their own names and file their rental income on Schedule E would qualify for the pass-through deduction.

“It’s not 100 percent clear,” said Jeff Levine, director of financial planning with Blueprint Wealth Alliance. To get the percent deduction, “it has to be a qualified trade or business.” The new law does not clearly define trade or business, and the term is defined differently in different parts of the tax code. “Depending on IRS interpretation, a taxpayer’s involvement in the rental property could be a factor” in whether he or she qualifies.

Luscombe said he believes Congress intended real estate investors who use Schedule E to qualify for the deduction, and a congressional committee report supports that idea.

Weissenberg said they clearly would qualify for the deduction.

Nelson also said they should qualify, “but we’ll have to see what the IRS says” when it issues regulations.

Real estate investors do not need to form a limited liability company to take this deduction, Nelson added. They can put property into an LLC (many do for liability reasons) as long as it’s not taxed as a corporation.

The law does state that people who own shares in a real estate investment trust can deduct 20 percent of their ordinary dividends (but not capital gains dividends) starting in 2018. This deduction cannot exceed 20 percent of their taxable income, but other limits do not apply.

“Real estate is a big-time winner” in the tax law, Weissenberg said, thanks to this and other provisions.

Source: sfchronicle.com

The post How real estate investors can cash in under new tax law appeared first on AAOA.

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Why taking recourse against a nonpaying tenant can sometimes get a landlord into trouble

American Apartment Owners Association - Thu, 01/18/2018 - 7:59am

Q: I own rental property in California. My tenant broke a two-year lease within two months of signing. He left the house without paying the rent. I called a real estate agent, advertised the property and got it rented. Can you advise me if I can deduct the amount I paid for the real estate agent from the security deposit and the loss of rent?

A: What you need is an attorney to help you with your question. Most municipalities and states (including California) have rules pertaining to security deposits and leases. Due to your tenant’s bad behavior, you may be able to legally keep the entire security deposit or just a part of it.

You should first review the fine print of your lease. What does the lease document say happens to the security deposit in case of a default by the tenant? Then, you have to look at your state laws and local ordinances to figure out if any law or ordinance applies to your situation. Once you get a handle on what the lease, laws and ordinances say, you can make a decision on what you can do.

From a lease perspective only, most leases say that a landlord is entitled to recover his or her damages when a tenant breaks a lease. Those damages can include the amount of rent that was unpaid and remained unpaid while you searched for a replacement tenant and may include commissions and other costs you expended to get that other tenant. Most lease documents would allow a landlord to deduct those costs from the security deposit.

But this is where it gets tricky. Some state laws only allow certain items to be deducted from security deposits, and some municipal ordinances require you to provide receipts and proof that you spend money — and only for certain items — before you can deduct those sums from the security deposit. Finally, some ordinances will penalize you, the landlord, if you fail to comply with the statutes and ordinances even when the tenant was at fault.

So if you fail to comply with the laws and ordinances, it could cost you a pretty penny. For these reasons and depending on the amount of money involved, we think you should connect with a local attorney who is knowledgeable about all applicable laws.

You might be able to research and get more information on your own, but you’ll be taking a risk that if you do it wrong, the tenant may have a claim against you. In some places, you might have to sue the tenant to get some of the damages you are entitled to, so make sure you understand what your lease says and what laws apply to you and your situation.

Good luck.

Source: washingtonpost.com

The post Why taking recourse against a nonpaying tenant can sometimes get a landlord into trouble appeared first on AAOA.

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Tips for Purchasing an Investment Property

American Apartment Owners Association - Thu, 01/18/2018 - 7:57am

As far as investments in the U.S. go, real estate is one of the best. Aside from the general trend of increasing home prices, the fact that the President is a real estate mogul makes it highly likely that economic conditions will be favorable to property investors.

Regardless, investing in property isn’t something you should take lightly. There are a lot of variables you need to take into account, most of which will be beyond your control. With the right knowledge and preparation, however, you can make the most of your investment property.

Below are the tips to keep in mind when purchasing an investment property.

Think about the long-term costs and benefits. Warren Buffett once said: “If you aren’t willing to own a stock for 10 years, don’t even think about owning it for 10 minutes.” The same can be said of real estate: If you can’t imagine holding on to a piece of property for at least a decade, you’re better off looking at other investments.

Unless you have a considerable amount (read: thousands of dollars) of cash on hand, you’ll want to shop around for low-cost financing options first. Assuming you have a solid credit history, you should have no problem securing low-interest loans. Otherwise, you’ll have to work on either improving your credit score or looking at other ways to finance an investment property.

You should also consider whether you want to live on the property or rent it out to tenants. As a landlord, you can earn a stable monthly income thanks to rent. On the other hand, if you’re not careful when qualifying tenants, you could end up with more trouble on your hands than you’re willing to put up with.

Lastly, don’t forget to account for taxes related to property investing. These taxes include land tax, capital gains tax and stamp duty. If you’re not sure about these, get a tax lawyer or accountant to help you.

Shop around. When choosing property, you may find yourself overwhelmed with choices. Should you purchase a rental in a high-traffic area like a university, even if your potential tenants (i.e. students) don’t have the biggest budgets? Or should you get one in a high-end neighborhood, even if the costs of maintenance aren’t cheap?

To make things easier, start with the type of property you’re already familiar with. For example, if you already have a few years of experience living in a condo unit, chances are you’re well-aware of what condo dwellers want and don’t want.
Of course, you’re free to invest in a type of property you’re unfamiliar with. But if you want to spend as little time as possible filling in the gaps in your knowledge, it’s a good idea to stick with what you know.

Understand the market. The last thing you want is to end up overpaying for property. By arming yourself with knowledge about local real estate conditions, you’ll be better equipped to find property at or below market value.

Contact as many real estate agents and locals as you can. Ask them about average rental rates, demographics, property values, suburb reports and other related data. You can also corroborate their information using reliable third-party sources. Don’t forget to check prevailing mortgage rates as well.

Check the age and condition of the property. If you’re planning to rent out your property, make sure it’s in the best shape possible. It’s easier to justify a higher rental rate when your property looks like a million dollars (even if it isn’t). Have a professional help you in determining whether a property needs repairs, and how much.
On the other hand, a property that’s somewhat rundown can fetch a purchase price well below market value. In that case, consider whether you’re willing to conduct DIY repairs of the place if cost is an issue.

Plan for the care of the property. Property management isn’t easy. As a landlord, for example, you’re responsible for screening tenants, filing taxes, keeping the books, collecting rent, handling maintenance and repairs, writing contracts, working out insurance plans and more.
If that sounds too great a responsibility to handle, it’s best to get help from a property management company. Generally, property management companies charge anywhere between 8 to 12 percent of the monthly rent.

Spruce up the property. Whether you’re planning to rent out your property or not, renovating it will work wonders for its market value. For example, you can:
• Make sure your kitchens and bathrooms are modern and well-equipped.
• Stick to neutral paint colors such as cream, grey and beige.
• Use paint to highlight your property’s architectural features, brighten dim hallways and revive tired walls.
• Improve your property’s overall curb appeal.

Buying the right property takes time and effort. It’s definitely not the sort of venture for someone looking to make a quick buck. But if you’re willing to stick with it for the long haul, your profits will keep coming in for the long haul too.

Source: realtybiznews.com

The post Tips for Purchasing an Investment Property appeared first on AAOA.

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These 20 markets are the finalists for Amazon’s HQ2

Inmannews - Thu, 01/18/2018 - 7:54am
New York City, Toronto, Newark and Dallas all made the cut as finalists for Amazon's second headquarters. Amazon announced its 20 finalists out of 238 bids ...
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5 Intriguing Trends in Today’s Apartment Rental Market

American Apartment Owners Association - Thu, 01/18/2018 - 7:44am

Investors, developers and builders across almost every metro area in the U.S are scrambling to keep pace with the growing demand for multifamily housing, especially apartment rentals. Market reports show that up to 90% of recent multifamily developments in major cities across the country have been rental apartments. What does this mean for the market?

Below, we look at some of the intriguing trends in today’s apartment rental market.

The Pursuit of the Urban Lifestyle Rental apartments are attracting two different demographics: millennials who are attracted to the urban lifestyle and empty nesters who want to downsize after their kids have gone to school. According to Broadstone Ridge, the pursuit of the urban lifestyle is being driven by the desire for walkable and conveniently located apartment rentals that are professionally maintained and landscaped with all the essential amenities.

Much of the rental apartment trend is being fueled by young professionals who crave living in a place where everything they need and want is close by and doesn’t require them to go onto a highway. Multifamily developments are keeping pace with this trend by investing in the latest technologies and offering various luxury amenities to woo millennials and empty nesters.

More Renters are Aspiring to Luxury Living Many apartment renters are aspiring to live in or close to downtown, but that kind of lifestyle isn’t cheap. Despite more developers and investors targeting deep-pocket customers, there is still an upsurge in demand for affordable luxury living among the middle-class. A larger number of new apartment rental communities are targeting renters who aspire to luxury living.

To attract such renters, apartment rentals must offer a range of luxury amenities like:

● Multi-use common areas with luxury features
● Infinity pools
● Upgraded design features
● State-of-the-art gyms and yoga studios
● Wine rooms

These posh perks are becoming more of a feature in distinguishing luxury apartment rentals from other residential buildings. In markets where rental apartment affordability is particularly acute, developers are simply building smaller apartment units that are more attractive and efficient and becoming more popular among the middle-class.

Cutting-Edge Technology is Selling Technology is quickly reshaping the apartment search and living experience and transforming the rental world. More renters are expecting their apartment complex to provide cutting-edge technology such as high-speed internet, customizable entertainment packages, smart security and other apartment technologies.

Luxury apartment developers are customizing and personalizing services to attract more renters. Offering cutting-edge technology as an introductory offer is becoming more of a trend. The biggest challenge is how building owners can keep up with the next wave of innovations. The bottom line is renters are getting more control over technology.

Signing Green Leases for a More Sustainable Lifestyle More eco-friendly apartment complexes are being developed as renters opt for a more sustainable lifestyle. Expect to see more multifamily units offering energy-efficient buildings, composting and recycling, bicycle parking and other eco-friendly services. More developers who care about the environment are requiring tenants to sign a green lease.

By requiring tenants to live sustainable lifestyles, via green clauses in the apartment rental lease, developers are able to create an intentional community of renters who are committed to sustainability. Going green has benefits for both the renters and building owners.

Micro Apartments are Becoming Popular As evidenced by recent real estate reports, micro apartment units of approximately 350 sq. ft. have been observed in the apartment rental market and are quickly becoming a trend in urban centers. This rise in the demand for micro-apartments is attributed to the changing demographics of the buyer market.

These micro units tend to draw young singles that simply want to live in a prime location and don’t need to entertain at home. Cities like San Francisco, New York, and Seattle have been early adopters of the micro-apartment trend, and it’s paying off by serving the new market.

Conclusion Despite the growing demand for rental apartments across cities in the U.S, there is still growing concern about the rising cost of renting these units. Nevertheless, real estate experts continue to point at changing demographics, economic and cultural factors that they believe will continue to energize the demand for multifamily apartment rentals for several years.

 

Source: realtybiznews.com

The post 5 Intriguing Trends in Today’s Apartment Rental Market appeared first on AAOA.

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Real estate daily market update: January 18, 2018

Inmannews - Thu, 01/18/2018 - 7:44am
All the latest real estate market news ...
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The Truth About Renting Out Your Home During a Big Event

American Apartment Owners Association - Thu, 01/18/2018 - 7:40am

Super Bowl LII will be played on Sunday, Feb. 4 at the new U.S. Bank Stadium in downtown Minneapolis and organizers expect some 1.3 million people to visit the Twin Cities during the week. Little wonder that popular questions among local homeowners have been: “Are you renting out your home?” and “How much do you think we could make?”

If a big event will be coming to your town — a professional golf tournament, a giant conference, the NCAA finals, whatever — you may be wondering if you can rake in a tidy sum by renting out part or all of your home, too.

The truth is: you may be able to find a taker, but you probably won’t make a fortune.

Super Bowl Is Drawing Many Airbnb Hosts

Even so, Twin City locals are increasingly planning to welcome visitors to their pads in hopes of padding their wallets.

Airbnb, the largest online home-sharing service, now has 3,300 active hosts in Minneapolis and St. Paul for Super Bowl week. That’s up from just 1,000 last February when the company launched its PROJECT 612 initiative (612 is the Minneapolis area code). Other online home-sharing businesses, such as VRBO, are also busy signing up hosts.

All of this is adding to the excitement caused by the don’t-jinx-it! chance that the Minnesota Vikings may play in the Super Bowl, whose stadium is actually shaped liked a Vikings ship.

But Twin Cities homeowners dreaming of pocketing big bucks from their side hustle are likely to be disappointed.

Yes, there are high-end condos on the market for $15,000 a night blocks from U.S. Bank Stadium. And a 20,000-square-foot home on a Lake Minnetonka island is priced at $250,000 for the week. But Airbnb bookings are averaging $173 a night during Super Bowl week. This is about 2½ times the typical rate for the area, though hardly a sum that fantasies are spun from.

The modest rate reflects the experience of Greg Candelaria, an IBM retiree, and his wife, Brooke, last year. That’s when they rented out a spare bedroom and bath in their Houston home, six miles from the NRG Stadium where the Super Bowl was played.

What One Super Bowl Host Brought In

In the weeks leading up to the game, the Candelarias posted a high price of $1,000 a day. No takers. Three days before game day, they lowered their price to $399. The couple was approached by an Atlanta couple with an offer of four nights for a total of $1,000. They grabbed it.

Even though that wasn’t a huge sum, it was better than the $60-a-night they typically raked in through Airbnb.

Keeping Earnings Expectations Realistic

The keep-earnings-expectations realistic was a theme of a Dec. 19 meeting of roughly 50 prospective Super Bowl hosts at a hip space in downtown Minneapolis.

Reece Anderson, manager of hospitality for the Super Bowl Host Committee, said he hoped hosts would meet the needs of the game’s 10,000 volunteers (some coming from as far away as Australia) and discouraged residents from thinking they could charge $30,000 for the week.

“The people who can afford to pay that will fly in their private jets to be at the game and then leave,” he said. “They’re already taken care of. Those are VIPs.”

New Fees for Some Home-Sharing Hosts

Also concerned: city governments in Minneapolis and St. Paul.

Both passed legislation aimed at the sudden growth in the local home sharing market.

For example, Minneapolis hosts who leave their homes when guests stay there must now get a $46 annual license and may face periodic inspections. Hosts who remain in their properties don’t have to pay a license fee.

Taking in a Needy Family

Trudy Ohnsorg, 53, author of Air Be & Me, has been renting out her St. Paul home through Airbnb since 2015 to offset the risk of leaving her stable state government job for a consulting group focused on nonprofits. “It’s brought a steady stream of remarkable people into my life,” Ohnsorg says. “I still love to travel, but now I do it in reverse.”

Although she wasn’t planning to take in someone during Super Bowl week due to fears of partiers trashing her home and disturbing neighbors, she relented when a needy family came knocking. They had to make a work-related move to the Twin Cities during, of all times, the Super Bowl festivities.

So the couple with two kids, two dogs, and a cat will stay at Ohnsorg’s house from mid-January through mid-March at her regular rate. That “gets me the $9,000 I was hoping to receive during this time period,” she says.

Advice for Prospective Home-Sharing Hosts

If you’re considering renting out your home during the next big local event, here’s some advice from Candelaria, Ohnsorg, and Airbnb itself:

Candelaria sent the following checklist (lightly edited for clarity):

  • Go with a secure platform like Airbnb or VRBO
  • Use an attention-getting headline for your listing, like “Stay at Your Own Super Bowl Headquarters in the Heart of the Twin Cities!”
  • Draw attention to your home-sharing ratings, amenities, and location
  • Compare your pricing to other homes in the area
  • Set realistic expectations and know your bottom price
  • Take only fully verified guests that have previous reviews
  • Use caution when considering “first-timers,” since they may create stories to encourage you to rent to them (for instance, they may say there will be four people and then invite more friends for a party)
  • Set a strict cancellation policy (such as 50 percent refund if canceled more than a week before the event but 0 percent refund within a week of the event)

To protect yourself from scams if you plan on opening your home to strangers, do it through one of the major home-sharing platforms. Companies like Airbnb routinely run background checks and risk assessments to lower the odds of a bad experience.

Airbnb is even beefing up its customer support during the Super Bowl to help prevent problems. “We will have a Super Bowl swat team for support services,” says Nick Shapiro, global head of trust & risk management at Airbnb.

Ohnsorg’s advice: Try out sharing your home before a major event.

That experience, she says, will allow you to build up a clientele, understand your pricing, meet all the regulatory requirements and get your insurance in place.

“Get some practice,” she says.

 

Source: nextavenue.org

The post The Truth About Renting Out Your Home During a Big Event appeared first on AAOA.

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Zillow unveils new app for capturing 3-D home tours

Inmannews - Thu, 01/18/2018 - 7:20am
A Zillow executive billed the technology as the only mobile app that can capture 3-D tours at no cost, and said a 3,000-sq-ft. home takes 30 min. to capture ...
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Apartment Marketing Ideas & Tips

American Apartment Owners Association - Thu, 01/18/2018 - 6:19am

Posted on Jan 18, 2018

If your tenants gave notice today, would you be able to find someone to move in to your vacant unit right away? Or, would it be difficult to fill the vacancy quickly? Savvy landlords know that the best way to find tenants for their rental property is to market their properties so interested applicants come to them. Use these apartment marketing ideas to attract tenants and reduce vacancies.

Stage for Photos 

Photos sell most apartment listings — what do your unit photos say about your vacant unit? If you’ve got generic photos of blank rooms, it can be difficult for renters to imagine themselves in your unit. Work with a home stager who will bring in furniture, art and knick-knacks for a photo or video shoot. This one-time expense is well worth it when you know you’ll have attractive photos you can post to your website and re-use every time you need to rent out the apartment.

When staging the interior of an apartment, don’t forget to spruce up the outside, too. Tenants will want to see pictures of common areas and grounds. By cleaning up before the photo shoot, you can ensure a consistent impression — inside and out.

Create a Website

One of the best apartment marketing ideas that many forget about is creating a website. Let a website advertise your property year-round, generating a steady stream of leads for your rental unit. If you own multiple properties, you can create a comprehensive website that shows all the properties you own.

Then, use location-specific keywords to drive traffic to your website. Tenants searching for apartments in your city will be more likely to find your website when it’s keyword-rich.

Place applications, prospective tenant information, and high-quality photos and videos on your website. These components will help make it easy for interested parties to view basic information, complete an application and get in touch. Even if you don’t have units available to rent, it never hurts to have completed applications on hand — you never know what could happen.

Advertise on Social Media

Social media is an easy way to get your listings seen, whether you use your own website or post on apartment search websites, such as Craigslist. To make social media posts effective, use hashtags that renters might look for to find available apartments, such as #realestate or #forrent.

Use your social media profiles to feature your apartment listing and share details that might draw views — such as a snapshot of your swimming pool ready for the season.

Involve the Community

This time-tested way of marketing rental property still works, so spread word in your community to increase leads. Post flyers on community bulletin boards advertising your open units. Network with other property managers and business owners you know; they might know someone in need of an apartment like yours. If you have a good relationship with existing tenants, ask them for referrals.

As long as your requests aren’t violating the Fair Housing Act — for instance, by specifying a preferred demographic — there’s nothing wrong with using your local network to drive traffic to open units.

For more property management marketing tips and landlord tenant advice, become a member of American Apartment Owners Association. AAOA members get discounts on supplies, tenant screening, educational webinars and more.

Disclaimer: All content provided here-in is subject to AAOA’s Terms of Use

The post Apartment Marketing Ideas & Tips appeared first on AAOA.

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Apartment List raises $50 million to add more kinds of listings

Inmannews - Thu, 01/18/2018 - 6:00am
Apartment List raised $50 million through a Series C funding round to add a greater variety of listings to its rental marketplace, the platform announced Thursday. The round, led by Passport Capital founder John Burbank, brings Apartment List’s total funding ...
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