Apartment Rentals, For Rent by Owners, For Sale by Owners.

Any owner of a Real Estate Property for Sale or for Rent should understand the importance of a good marketing to realize better profitability and success. In practice, you only have to stick to some simple principles based on common sense to achieve best results.

Apartment Rentals
      Let's take the example of an owner of a multi residential rental property who is now entering into a difficult market and see its vacancy rate going up. In most cases the first reaction is to lower the rent and to give incentives to attract new tenants and face competition. Big mistake, this is costly. It would immediately affect the economic value of the property and attract a lower quality of clientele. Instead this landlord should increase its marketing and insure that the advertising program is adapted to the new reality.

      When I mentioned marketing, it starts with the basics of having an attractive property. How does it look from the outside, should the landscaping be improved, is it well maintained and attractive, does the front entrance need a face lift, should the lobby and other common areas be renovated, is the rental and management staff nice and caring about the needs of actual tenants and new prospects? How is the staff presentation? Is the building spotless? Is there a preventive maintenance program in place? Are all the suites welcoming? The landlord has to answer all these questions and if an investment is required to improve the property he can also perform what is called a "normalization" of the rent schedule based on sizes of units, heights, views and demand. This normalization should then bring an increase of the annual revenues anywhere between 10 and 15%.

      A building manager applied those basics with a reviewed advertising program for a 132 unit high-rise building and $45,000.00 investment renovations by the landlord that transformed into an $111,000.00 annual increase in revenues. This is what we call a good investment. The project lost some undesirable tenants that could not afford the rent increase anyway, but attracted a much better quality of new tenants, had better tenancy retention and lowered the vacancy rate by half even in this bad market. Implement your advertising with new professional pictures of the premises and by being better positioned in the media.

      Today there is the internet and the landlord may have a website of his property and be satisfied with it. This is not enough as he should be present in as many specialized "For Rent by Owner" websites, local, national and international to increase its presence on the net and must attach to each listing a link leading to the website of his property. An increase of exposure will lead to an increase of rented units.

For Rent by Owner
      Now let's take the case of an owner who has a single unit being a Home Rental, Apartment Rental, Villa Rental, Condo Rental or Vacation Rental. With some exceptions, most of the basic principles mentioned above would apply except that a For Rent by Owner have to be advertised on the net in every single specialized site of property rentals and this, at a worldwide level in order to reach as many potential prospects. The cost of such exposure is very low and the ROI is just unbelievable. These types of ownerships must also consider that when planning an advertising program while getting ready for the high season, an owner will soon have to prepare for the low season and may have to double the exposure in preparation for that low season using those low cost-high return opportunities that the internet offers. Each week that the property is vacant means a week of expenses without revenue. When an owner has good tenants, he should do everything possible to satisfy them and keep them as tenants. This is cost efficient. Same for a vacation property owner who wants a client to return every year.

For Sale by Owner
      Now as an owner who is selling his single property will you more than likely use the services of an agent and this can be great but you will have to pay a commission at closing date. We all understand that a professional rendered service has its cost and realtors work hard and deserve their compensation but it may affect to the equity that you expect from the sale. You may want to consider the For Sale by Owner option. It is realistic to think of selling your own real estate without an agent, with great success, with a quick possession date, at a fair price and low selling cost mainly because of the three following reasons: MARKETING, MARKETING and MARKETING.

      Be prepared for two weekends in a row of open house, the Saturdays and Sundays and blitz with classified advertisings in the written Medias. Use the real estate insert that usually come out on Friday or Saturday and take a quarter page advertisement to be located on the right page at the top. Show a nice picture of your property with the features and the open house hours. Don't forget to mention in your advertising and on your yard sign "Agents protected". Your front yard sign should reflect the shape of your property and be in size like a 4'by 4' sign. Do not use "House for Sale" but instead use an expression like "This Home Can Be Yours" and only indicate on your sign" 3 Bedroom, 2 bathroom " for personal appointment call 555-…. The asking price should be right for a fair deal with a prospect buyer. Have a nice colored featured sheet or brochure done to give to your open house visitors.

      List your property in all For Sale by Owner websites. Prepare the property accordingly as you can find a list of what to do in most of broker's websites. Don't forget that the inside and the outside of the house must be spotless, smell good, and that during open house hours or during any showing some nice background music and no children, no pets. You will have a lot of parties coming to view your property and should find a buyer. Your total cost to market your property should be around 1% of the selling price compare to a 4 to 6% usually paid to an agent unless a realtor brings an offer that you accept, he or she would be entitled of a selling commission of 2 or 3%.

This portal provides the opportunity to owners of Real Estate for Sale, and for those who choose the For Sale by Owner or For Rent by Owner formula, to advertise their property at a worldwide level. Agents and Managements are also using this portal for best possible results