Greeley Colorado: A Challenging Rent Market


by Kathleen Steadman - Date: 2007-10-04 - Word Count: 488 Share This!

Greeley's rental market remains above 7% as of July 2007 due to the overbuilding of multifamily housing during the boom years. The Landlord needs to bring his best game during these times. Tenants are looking for as many amenities and other relevant properties for the fewest dollars needed.

The Ad lengths remain long. Typically the vacancy is filled within 60 days. A few vacancies are filled within a month, but some rentals have been vacant for months especially the outdated and poorly maintained. The 4 issues that affect your vacant downtime are presentation, location, condition and amenities.

The most effective way to advertise your property is over the internet through a website that deals with advertising rental properties. These types of sites use strategies such as pay-per-click advertising, Search Engine Optimization, sponsored advertisements on other websites, as well as, traditional advertising in some communities. These types of sites spend an enormous amount of time and money driving the searching traffic from across the nation and beyond to their website for their clientele (landlords, property manager).

These sites offer plenty of space for a written presentation with no cost associated with the number of lines or letters and most offer space to upload images of your property. Many offer a database page of amenities and other important information from a check-off page that is filtered to your final presentation.

Marketing your rental takes time and a Landlord needs to use as many outlets and tools as he can afford. Fliers in the neighborhood coffee shop, the "For Rent" yard sign, and place key images of the property within your presentation on such places as Rentmarkets.com, which is a regional focused website for the Northern Colorado region, so the potential tenant can make an informed decision while searching.

The potential tenant is online to reduce his time to making a decision so you should help your audience with as much visual and written information in your presentation to sell the vacancy to that tenant before he calls for a walk through.

Take a larger view not just the property. Think neighborhood! When writing your presentation.

Re-establish the key amenities. Get intimate with your property. There were reasons why you bought or accepted the property to be part of your inventory, use those passions and features in your presentation.

Give your audience a view of the neighborhood and how the property looks within the neighborhood through the written part of the presentation.
- What types of shopping are nearby,
- Schools,
- Access to major thorough fares for commuters.
- Points of interests: coffee shop, museum, downtown, pedestrian friendly neighborhood, nearby park, School, trail, recreation opportunities, tree lined street offers the abundance of shade a cool place in the summer, bus stop offers a transportation alternative, neighborhood watch group gives the impression of safety...etc.

These could be some of the reasons why you purchased or manage the property, give that information to your audience.

Related Tags: colorado, rentals, rental properties, greeley, rent market

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