You can offer affordable housing to young adults who still live with their parents. There are many of those in Canada, as 42.3%
of people in their 20s still live with mom and dad. It’s a lifestyle that’s even more prevalent among immigrants.
So how do you find a tenant quickly? Here are some marketing tips that should help you out:
- Focus on the right market. Your potential tenants aren’t just young adults in their 20s. They can also be young families with kids, downsizing retirees, expats, and business executives living the bachelor life.
- Think about how you can reach these people. If you can, you should post your listing for an apartment on a company bulletin board. You can go online and post on a forum for expats. You can send out messages through your social networks.
- Enlist your family and friends. These people can help you find the tenants you need through their own networks. You can encourage and reward them by offering a finder’s fee. That money is little compared to what you lose in potential earnings when your unit is unoccupied for months.
- Take high quality photos. Taking pictures with your smartphone isn’t really the best idea; your apartment unit doesn’t quite look as good as they ought to. Use a proper digital camera. Better yet, hire a professional photographer to take proper snaps of your unit from the outside and from the inside.
- Use video. Videos can make your apartment unit much more interesting and engaging. You can then post them on YouTube. Here you can just use your smartphone and create a “walk through” tour of your building and unit. Don’t forget to point the camera out the windows for some great views (if you have great views, of course).
- Clean and fix up your apartment. It’s not quite as attractive when it’s dirty and messy. So remove any clutter, and keep the walls and windows clean. Try to sell people a lifestyle they can imagine for themselves.
- Prepare what you’re going to say on your video. Don’t only talk about facts. Talk about experiences as well. Disclose all the pertinent info but also talk about the experience of living there. Talk about how easy it is to reach a certain store or restaurant, or how you can get excellent coffee very quickly even after midnight.
It doesn’t really take much to find tenants. All you need is to exert some effort to present an attractive image of the lifestyle your apartment offers.