More renters are seeking available properties in Charlotte, NC as rental rates decline. Between July 2023 and April 2024, rental rates dropped by 7%. You can use this to your advantage when marketing your listings.
Not sure how to attract renters who are moving to Charlotte, NC? Read on for the landlord guide you need to boost your occupancy rate quickly! Maximize your profitability today.
Market Declining Rent Prices
Before using the rest of this landlord guide, research your target audience. Understanding each renter's needs will allow you to personalize messages. Personalized marketing messages are more likely to resonate emotionally with renters.
For example, you can empathize with their struggle to find affordable rentals. Highlight Charlotte's declining rent prices to draw them in.
You can offer competitive, below-market rates to stand apart from other rental properties. Consider completing a rental analysis first. Researching other properties will ensure you don't set the price too low.
Appeal to Tenants in Charlotte, NC
Highlight the experience of living in Charlotte, NC. Focus on the unique characteristics and amenities within your Charlotte neighborhood.
For example, you can highlight South End's historic vibe. Mention local shops and breweries near your rental property.
If the property is in Uptown, mention the city skyline views instead. Mention the centralized location and nearby venues.
Remember to personalize your marketing messages. Tailor your campaigns to attract tenants in Charlotte, NC based on different lifestyles.
Improve Curb Appeal
You won't attract renters if your investment property is falling apart. The property's curb appeal can make or break everything. Use the property's exterior to make a strong first impression.
Outside, consider:
- New ambient lighting
- Updating the walkway
- Trimming the lawn
- Painting the property's exterior
- Adding new siding
- Planting new flowers
- Upgrading with energy-efficient windows
Hire a professional staging company to improve the interior. About 40% of people arrange to look at a home they've seen staged online. Another 86% say it's easier to visualize a property when it's staged.
Don't forget to keep up with maintenance. Inspections will keep the property looking its best.
Update the Listing
After improving the property, update your online listing. The listing should include:
- An attention-grabbing header
- The number of beds/baths
- Square footage
- Your rental rate
- High-quality photos
- A virtual or video tour
- A detailed description
- Your contact information
- A call to action
Feature high-quality photos to grab the renter's attention. If the listing doesn't feature photos, they may look elsewhere.
Hire a Property Management Company
Give yourself a competitive advantage by hiring a property management company. Look for a company that offers marketing and tenant screening services.
They can use proven strategies to help your listing stand out. Their tenant screening services will ensure you find the best applicants. You can avoid problematic renters who may otherwise cause you unnecessary landlord stress.
Attract Renters Moving to Charlotte, NC With Ease
Finding renters who are moving to Charlotte, NC can give you a competitive advantage in today's saturated market. You can improve your occupancy rate to maximize your earning potential. Use these tips to generate more applications today!
Remember, you don't have to apply these strategies alone. Our team at PMI has 20 years of local real estate asset management experience.
Rely on our proven strategies and state-of-the-art technology. Contact us today to improve your occupancy rate.
