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Cant Rent a Work Zone
So you've picked up your first (or third, or tenth) income property, and it's a real fixer-upper. You've got a great team of contractors, and you know what they need to do and how much time and money it's going to cost to make it happen. The renovations are going to put you in the red and you're going to need to get a tenant in there ASAP. So as soon as you have the plan worked out with the contractors you run an ad and start showing the place, right? Not if you don't want to throw away money, you don't! Prospective tenants lack imagination, and this is never so evident as when you're showing them a place that is missing walls, is covered in construction dust, badly needs a paint job, has a gutted bathroom . . . you get the idea? "Curb appeal" is a concept that refers to the attractiveness of the outside of a house. Equally important is what I call "Foyer Appeal," which is how the inside looks when you're standing in the front door. If your curb appeal is poor (which is likely while you're renovating, since your money is best spent on the inside problems first), half of your appointments will be no-shows because they assume the outside is representative of the inside. On the flip side, poor foyer appeal will turn off the ones that actually walk in the door. No matter how clearly you explain what work you've got planned, the best you're going to get is, "I'd like to see it again when it's finished," and you'll be lucky if a third of them offer that level of commitment. Let me put it another way: if you're savvy enough to know the importance of online marketing, you also know that pictures are the most powerful part of your internet ad campaign. Are you going to take pictures of a construction zone, or a place that looks like a tornado hit it, and expect a high response rate? Or maybe you'll just skip the pictures entirely, so that ninety percent of your potential tenants just scroll on by without a second glance? Having good pictures could cut your advertising time from two or three months to under a week. If you're putting money into a property, it stands to reason that you're going to want to recoup that investment as quickly as possible. Showing an apartment that isn't ready for a resident wastes your time and advertising dollars, could permanently turn off potential tenants, and might give you an unearned reputation for low-quality housing. Start your marketing when the punch list is cleared, and your prospective tenants will be far more likely to sign on the dotted line. © 2005 Terence P Ward, all rights reserved.Terence P Ward is the President of Landlord for Hirehttp://www.landlordforhire.com, a residential property management service of Green and Clean Corporationhttp://www.Green-n-Clean.biz, based in the Mid-Hudson Valley of New York State. You may find contact information for him on either of his company's web pages.
MORE RESOURCES: L.A.âs Real Estate Upfronts Reveal Penthouse A at Rosewood Residences Beverly Hills Hollywood Reporter Real estate mogul cautions about avoidable mistake when buying a home, explains how to avoid 'drowning' Fox Business Coloradans negotiating lower fees for real estate agents with new law on horizon Colorado Public Radio Massachusetts real estate transactions for Hampden, Hampshire and Franklin counties May 19, 2024 edition MassLive.com Real estate transfers: May 17, 2024 RiverheadLOCAL Busch relative settles squabble with Clayton investors over real estate trust St. Louis Post-Dispatch London Real Estate Is About to Get the âSelling Sunsetâ Treatment Hollywood Reporter Real Estate Newsletter Articles this Week: Housing Starts Increased to 1.360 million Annual Rate in April Calculated Risk Mid-May Greenwich Real Estate Market Report Greenwich Sentinel Dodge County Real Estate Transfers Fremont Tribune Should I Buy a House Now or Wait Until 2025? Norada Real Estate Investments The Michael Houck Real Estate Guide for May 19 Oil City News MCB Real Estate Revives Long-Awaited Viva White Oak Mixed-Use Project Source of the Spring Washington state ahead of the game as lawsuit rewrites real estate commission rules - Puget Sound Business Journal The Business Journals Yes, there are other coastal Delaware towns besides Rehoboth Washington Blade Dutchess County, NY real estate 2024: What's on the market for $579K Poughkeepsie Journal Baltimore real estate: 4 waterfront condos for sale The Baltimore Banner STAR resource center Department of Taxation and Finance Home Prices Hit Record Highs in April 2024: Trends & Forecast Norada Real Estate Investments Real Estate Briefs: Lakeside homes, news condos, and more news Rough Draft Atlanta REAL ESTATE | UPDATE | Johnson Bus selling lot for new West Bend Fire Department No. 1 washingtoncountyinsider.com VIDEO | REAL ESTATE | Construction finally underway for Taco John's in West Bend, WI washingtoncountyinsider.com Revolution in real estate: How the NAR settlement is changing the game Eden Prairie Local News James Quinn's Data Center Advisory Expertise at JLL Drives Innovative Real Estate Solutions for Global Corporations Markets Insider Here are recent property transfers up to $1.28 million St. Albans Messenger Oceanport's Denholtz recognized by commercial real estate organization themonmouthjournaleastern.com Westmoreland County Real Estate Transfers | Real Estate | latrobebulletinnews.com latrobebulletinnews.com Innovative Leaders Vanderstraaten and Rohrman Inducted into North Texas Commercial Real Estate Hall of Fame ... dallasinnovates.com OT Real Estate Spotlight of the Week: 2115 Sheridan Place The Owensboro Times Real Estate Mogul Grant Cardone Closes Largest All-Cash Multifamily Deal In South Florida This Year Yahoo Finance Routt County real estate sales at $17.6M for May 9-15 Steamboat Pilot & Today Robert Willett may be targeting female Realtors in Northeast Ohio Akron Beacon Journal China Says It Will Start Buying Apartments as Housing Slump Worsens The New York Times My Co-op Neighbor Never Pays His Maintenance on Time. Can We Make Him? The New York Times Refined Real Estate: Unique Leschi home with lake views lists for $1,395,000 seattlerefined.com Navigating Northern Virginia Real Estate: An Insight Into Rhonda Campbell's Bespoke Approach Grit Daily Number of homes for sale in Metro Atlanta increased significantly, real estate brokerage says â WABE WABE 90.1 FM What's real estate wellness? Fortune Ellison sues real estate broker Chad Banken over alleged schemes involving contracts for deed Star Tribune Billionaire Frank McCourt raises his hand to buy TikTok Business Insider Connecticut real estate law changed after MV Realty investigation Eyewitness News 3 Connecticut real estate law changed after MV Realty investigation Eyewitness News 3 Real Estate Transactions for May 18-19 | News, Sports, Jobs Nashua Telegraph Sean Bloom Investments Announces $2B Real Estate Project in Las Vegas InvestorsObserver Local couple buys Pat Burrell's former Center City penthouse for 38% under original asking price The Business Journals KKR Real Estate Finance Trust Inc. (NYSE:KREF) Given Average Recommendation of âModerate Buyâ by Analysts Defense World Edgefront Real Estate Investment Trust (TSE:NXR) Forecasted to Earn FY2024 Earnings of $0.73 Per Share Defense World Do starter homes still exist? Here's what NJ realtors said NorthJersey.com Letter: Clarifying changes to real estate industry Morgan Hill Times Home listings are on the rise in southern Colorado, while other indicators show a slowing real estate market Colorado Public Radio First Capital Real Estate Investment Trust (TSE:FCR.UN) Share Price Crosses Above Two Hundred Day Moving ... Defense World Berkshire County Real Estate Transactions for April 29-May 3 Berkshire Eagle Did Fort Worthâs real estate market really âbottom outâ? | Fort Fort Worth Star-Telegram Southern fast-food chain Cook Out buys Tampa real estate The Business Journals New Rules for North Texas Real Estate Agents Creates Uncertainty Dallas Observer EG Real Estate: 18 Opens This Weekend â East Greenwich News East Greenwich News Housing Market 2024 Predictions Bankrate.com LOCAL REAL ESTATE TODAY 5.17.24 â KQEN News Radio kqennewsradio.com End of war against property speculators marks new phase in China housing South China Morning Post |
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