How to Make Your Apartment Building Irresistible to New Tenants

July 17, 2020 Blog

Suggestions from the Brokers at The Business Insurance Center

Owning rental property brings many opportunities to meet new people and provide a nice place for them to live in. You also have the advantage of making a living from the process. Sometimes it’s harder to find quality tenants to lease your apartments. There are many factors, but taking action to enhance the quality of your listings will bring in those ideal tenants.

Protect your future when you have the appropriate apartment building insurance. Talk with the experienced team at The Business Insurance Center about your coverage needs. We work with apartment owners like you across the country. We help you get the plans that safeguard you from the effects of fire, injuries, theft, and other liabilities.

7 Ways to Increase Apartment Appeal for New Renters

Make your building and units appealing to prospective tenants with these seven tips:

  1. Clean up the outside. Mow the lawn, rake leaves, and remove dead plants. Fix any broken windows and clean up the trash dumpster stalls. Curbside appeal goes a long way to entice prospective tenants into taking a look at the inside of your complex.
  2. Install excellent lighting in hallways and common areas. Clearly lit corridors and parking lots speak volumes about safety. New renters feel safer walking to their unit from a common area at night when they can see what’s going on around them.
  3. Update appliances. You don’t have to spend a ton of money, but the return on investment can be huge by replacing that avocado colored refrigerator from the 70s with a newer model. Consider updating all the kitchen appliances and enjoy enhanced interests in your units.
  4. Deep clean and freshen up the paint. No one wants to rent an apartment that they have to clean and paint before they can move in. Spend time cleaning the nooks and crannies. Remove cobwebs and put on a fresh coat of neutral-toned paint.
  5. Take quality photos. Be sure to take photographs that showcase the hidden gem within your apartments. They should show a unit that is bright and warm instead of cold and dark. Good lighting will help this.
  6. Make a detailed listing when advertising. When you list your apartments for rent, create a complete listing that is well-written. Be as comprehensive as possible, including types of rooms and their dimensions, any pet restrictions, washer/dryer in-unit or on-site, type of heating and air, and other amenities.
  7. Offer a move-in special when possible. Sometimes the market is tight, and finding tenants may require some ingenuity. Remember that money is a good incentive. Offer a move-in special such as getting the first month free, or waiving a deposit or application fee if feasible.

Safeguard Your Apartment Buildings with Insurance from BIC

Enjoy the benefits of passive income from rental properties while protecting your investment with apartment building insurance. The Business Insurance Center specializes in working with small business owners, entrepreneurs, and sole proprietors. We can help you with your coverage needs. Call us today to partner with a company that cares about your success.

Request a quote online or call and speak with a knowledgeable and experienced broker at the Business Insurance Center about purchasing apartment building insurance. We have a 24/7 call center to serve you and an online Live Chat operator. 

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