Los Angeles Property Management companies know that when you provide an incentive, it requires you to keep and acquire customers.
The very same principles apply to landlords.
Los Angeles Property Management companies say whether trying to convince an applicant to sign a lease, or encouraging a great renter to renew, incentives act as a carrot at the end of a proverbial stick.
Los Angeles Property Management On Upgrades
Upgrades can benefit both the landlord and renter, a permanent change to the residency would be considered an upgrade. A renter who views the property as home, will more than likely ask for an upgrade.
Sometimes, the ability to break a lease with 30 day notice, or the approval to have pets, is valuable to a renter. You have to weigh the risk vs. reward, but sometimes it’s worth it.
Allowing other flexible terms, such as the ability to sublet, will entice a new renter or keep a current one. Student renters often travel home for the summer and want the ability to sublet comfortable.
Paying Rent Online
Los Angeles Property Management companies say that for many people, their rent payment would be the only check they write in the month.
Any renter would jump at the opportunity to pay their rent online. This adds convenience to new renters and instantly makes your property worth looking.
First Free Month
A large apartment complex will have the additional cash flow to be able to give a free month worth of rent. Although sometimes, the 11 other months are increased by 1/11th the price to make up for the amount that was given for “free”.
Los Angeles Property Management companies say this incentive allows a renter to spread the first month’s payment over the term or the lease.
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