Local Knowledge Counts When Looking for Corporate Apartments

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Every rental market is different, every city has it’s high points and low points. In an extremely competitive market such as Charlotte, you need every trick in the book to get ahead. Our Charlotte corporate apartments are a viable source of income if you have a good example, but you need to know your market to pitch it right.

The best way for a landlord to explore their local market is to pose as a renter. Not to waste time or cause trouble, but to make inquiries about rents, leasing statistics, the marketing methods they use and anything else a potential renter might want to know.

It all helps when considering renting a corporate apartment. The analytical amongst you could create a spreadsheet and track rental properties you consider the competition throughout a year. It will help you create a clearer picture of the real estate market in your area, the rents being achieved and the vacancy periods to expect.

All this local knowledge helps a lot when you’re planning to rent out property to corporate clients. If you know what your competition is doing, you already know how to compete.

If their marketing is working, copy it but do it better. Use better images, pitch the features and benefits better, word it better and do everything you can to make your corporate apartment stand out from the crowd.

By knowing what the average rent is for a similar property, you already know enough to ask the right amount of money for the property you have. Overpricing is still a significant issue in the rental market, leading to many empty properties. By avoiding that from the outset, you’re already avoiding the biggest pitfall that face new landlords.

Getting more local offers more advantages. Knowing where all the local amenities are allows you to use them in the pitch. Is the corporate apartment near a park? Can the tenant walk to work? Are there bars and restaurants nearby? What are the crime figures for the area? Is there another selling point of this particular area? And so on.

Other tricks to keep your corporate apartment rented is by being thoughtful. Providing a welcome pack with local map and highlights is a great way to get repeat custom. Create a map, add local markets, nightlife, metro routes and other pertinent information to it to help a newcomer to the city get around.

Taking that a step further, why not include a one-month metro pass to the rent? While you charge for it in the rent, it’s a valuable service to the renter, as it’s another thing they don’t have to worry about while they settle in. If you know where they are going to work, getting the right pass is easy.

It’s often the little things that separate a good corporate apartment from a great one. Sure, floor space and location are very important, but making a tenant feel welcome cements that good feeling long after the initial good impression has worn off.