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HOW TO ATTRACT TENANTS TO BUY A CONDOMINIUM UNIT

In the real estate business, the primary or basic item to consider is on how you are going to sell a piece of a residential or a commercial piece of land, a townhouse or a condominium unit in high rise edifices. You don't want your investment to end up a sanctuary of ghosts or a white elephant, do you? The kind of business you are about to build is not a joke and there are a lot of things you should learn. You should first consider knowing or identifying your target market. Who would be your ideal tenant? Before running your first advertisement, figure out whom you want to attract. Is it a single man or woman? A large family with pets? Are you looking for a working professional whose office is in nearby downtown? Or do you prefer college students? Asking yourself these questions will help you choose the right tenants.

Another strategy that can help you out is to advertise online. Make use of technology to include your establishment in listings and show your clients as many images as you can. Most people or if not all are satisfied with products or services especially when they see it for themselves. The more pictures they see then the more options they will have. Next is accepting the challenges of competition or even turning your competitors into collaborators. Remember, no business is built without it. So you must keep an eye of what's going on the market. You can do these things in three easy steps: First, gauging the rent amount of other condos with your asking price and making adjustments or promotions thereof. Second, pose as a prospective buyer so that you will have firsthand information on the business you are dealing with and lastly, you could hold an open house so that prospective clients can experience the comfort and ambiance of your place.

 Moreover, promotions or advertisements are more effective if you advertise the proximity of physical fitness centers, shopping malls, art museums, or other popular attractions. Good tenants choose their residence carefully, and they want to be located near facilities that support or enhance their lifestyle. A tenant who prides herself on physical fitness will want to hear that there is a jogging trail or gym nearby. A person who prides himself on being part of the local art scene may want to live near a museum or gallery. If you read the ads placed by other landlords, you'll notice that few mention the proximity to local attractions. You just don't give your clients the comfort of living but also the importance of word of honor. Make them feel important by responding to their request on time. This will help you improve your relationship with your clients and of course there is no reason they cannot pay you on time. Gratitude will always be rewarded. Do not ask for rent by shouting or banging up on doors. Instead, you could give them a small token of gratitude before the rent is due so that it will give them the idea of their monetary obligation. At least before you accept them as tenants, they must be able to understand or comprehend the terms and conditions of the lease so that there will be no ensuing headaches later on. One way of giving them the ease of condo living is by giving them payment options like direct deposit or credit card. You can even include cable TV subscription with the rent or a high-speed internet connection to suit their lifestyle. Treat your tenants as if they're your family. Refer to them as residents. Always use the word "we" not "I" to spread a sense of brotherhood or camaraderie. A good relationship cannot be bought by money. Compensate them if they always pay on time or if they refer to you a new client. Always remember that apart from the business plan you have written prior to starting your business, your clients are your bread and butter. Treat them well and abundant blessings will follow.

N.B. Research and related links: http://activerain.trulia.com/blogsview/1517704/33-tips-to-attract-the-best-tenants-and-get-them-to-pay-you-more