Marketing The Edge at Reno Newsletter
March 2009

 

Jack Phillips, Vice President, the Edge at Reno, has prepared his thoughts on renting the Edge at Reno properties.

 

1.  Make your apartment show well. Good, clean tenants will not be as apt to choose an apartment that is messy, needs repair, or looks unsavory when it is show for lease. Do not be cheap. Add a coat of paint, fix the dishwasher, and do some little things that will tend to discourage tenants who are also dirty, used to living with broken appliances. The condition of their apartment is the number one way to obtain and keep good tenants.

2. Offer something special – Try to distinguish  your  rental apart from the other Reno properties.. Adding special features that tenants want will help rent your apartment  faster.  Visit IKEA now (!)  and check out their low voltage lighting, bathroom fixtures and window drapes so you can make quicker repair decisions when you do get a vacancy. 

3. Watch and Research the Reno Rental Market – What is the competition, what alternatives for UNR students have?. What is their location compared to the Edge. What other features do the alternatives offer?  Know and watch the competition.

4. Find Tenants Early –  Getting results from a rental listing is a lot easier when you start early. Begin looking for tenants as soon as you know the property will be available. This could be three to four months before. Use extra time to screen tenants and prepare the home for rent.

5. Get The Right Tenants – Take some time to check out your tenant before you let them in. Check references, and do a credit check  ( after  obtaining permission ) or ask the tenant prospect to provide a credit reports. Check actual enrolment in college.  Be sure to not exclude anyone protected by federal Fair Housing laws.

6. Sign A Rental Agreement – Prepare you rental agreement early and make sure it complies with Nevada laws.

7.  Treat Tenants Right – Once you have good tenants, try to keep them as long as you can. Ask them to make referrals to other Edge units. Reach out to your existing tenants and find out how they feel about living in your Edge apartment. Try to address any concerns they may have before they become issues.

8. Inspect the rental often – Let the tenant know you care about the property and about them as tenants. If something breaks, fix it right away. If the tenant is out of line, correct them early so they don’t think their behavior is ok. Make sure the tenant knows you will checking in for routine inspections and keep them updated on whatever you find.

9. Know How to Fix Toilets. Or find somebody who does. hire a handyman on an hourly basis to make minor repairs and compile a list of phone numbers of professionals -- plumbers, heating and air-conditioning repairmen, etc. -- that you can keep handy in case of real emergencies.

10. Meet and Talk with Other Edge Owners and share ideas of what works well.

11. Know the Law. "Every Landlord's Legal Guide" by Marcia Stewart, Janet Portman and Ralph Warner has state-by-state summaries of landlord-tenant laws, plus a CD-ROM full of all the forms and documents you'll ever need. Rules on evictions, for instance, vary from state to state and sometimes city to city.  Free downloads, forms, tenant laws, credit reports and great information is located at thelpa.com You can also visit landlord.com

12. POST YOUR VACANCY on the Edge web site www.edge-reno.com.  

13. ATTEND THE RENO EDGE MARKETING MEETING April 20^th at  7 PM, Java Jungle, Reno, Nevada 89503.

14.  ATTEND THE EDGE at RENO Board of Directors Meeting,  April 29^th, 6 PM, Western Nevada Management,  804 Mill Street, Reno, NV 89502-1421