The internet. It is changing faster than anyone could have ever anticipated and while this can be challenging and frustrating, it can also be a huge asset. Especially in the world of real estate. In this day and age, the internet is the first place that people are turning when faced with the conundrum of rental properties. They are turning to easy, fast, reliable sources to find rental properties and you can absolutely use this to your advantage!
Why does an internet presence matter? Because everyone is using the internet! They use it while they commute, they use it at work, they use it at home, it is the last thing that they look at before they go to sleep. They are enthralled with the way that information is at their fingertips and they use it for everything. You no longer have to drive around to apartment complexes asking for vacancies and rates. You can pop onto one of a hundred sites that properties use to advertise their available units and with a few clicks you can request information, submit an application, or have direct communication with a property manager. This is important because of the way that people are working more now than ever, and as a result they are less likely and less available to go tour properties. But in the world of the internet, they can peruse listings during their lunch break or as they wait for the train.
The ability to see an apartment listing online means that more people are likely to look, therefore, you are that much more likely to have a higher occupancy at your property. The surge of internet use over the last decade also means that communities are more transient than ever, but in the best way possible. People are more likely to move to an area when they are renting as opposed to when they are looking to buy. Tapping into the ever increasing millennial population, we see that they are moving where they find opportunity. And when your property is listed online, they are capable of taking virtual tours, viewing photos, reading tenant reviews, and other features that are vital to the rental process. They can also get a gauge for the kind of community that they will be moving into, which is imperative for young families. All in all, rental websites are an incredible tool for the multi-family arena of real estate. It can be a game changer in occupancy rates, and may very well be the reason that so many people are choosing to rent in this financial climate!
Are you new to the commercial multi-family real estate investment world? We would love to help! Our blog is full of our thoughts and suggestions on why we love multi-family real estate, and we would love to have you join us as we work on acquiring more properties. Head over to our home page and fill our our investor form for more information and so that we can get in contact with you about our newest investment opportunities! We are dedicated to one investor client, one property at a time!