What’s up, everybody? Matthew Whitaker here with another “Questions Owners Ask.”
Today’s question is, how do I rent my condo? So, this is a question we’re starting to hear more and more particularly in our Nashville office.
Most of Nashville is being built up, particularly the downtown area with a lot of condo developments.
A lot of people are buying these condo developments as investments, and running condos is becoming harder and harder, particularly with the Airbnb restrictions.
So, people are going more to long term rentals. So, they’re asking the question, how do I rent my condo?
I have three thoughts here.
First one is keeping a pulse on what other people are doing in your community.
As I’ve always said, renting is very much a snapshot in time for people, and so you need to look at what other people are doing in your community.
See what other condos are leasing for. It’s a really easy to compare condos within a community.
Be willing to know the at or less than the condos that you’re competing with, and try to be the next one that runs.
Second thing is be willing to run specials to get noticed. Most of the times what happens is in these condos you get lost in the shuffle. So, be willing to run a special like half off first month’s rent, some sorta gift card.
Do something to get noticed out of the pack.
Last thing is getting referrals from apps like the Neighborhood app, Facebook groups and just good friends in the condo complex.
A lot of times these condos get rented just because of who you know, or the relationship that you’ve built, whether on your online community or in the condo association community.
That’s another great way to list these houses that’s it for now.
That’s how do I rent my condo.
I’m Matthew Whitaker with gkhouses.