A step you should be very keen on is determining your target audience. This would also guide your renovation and marketing plan. An apartment for students would not go through the same process as an apartment for professionals. It could be from a place of investing more in that for professionals, as they would most likely pay more than students would. You could also prepare your properties for families and even short-let apartments for travelers and tourists. The location of your property could also determine your target audience. For instance, around a university, you can prepare properties for students and not families.

Next, you have to carry out market research. When properties are listed for more than they should cost or are even cheaper, prospective tenants tend to be skeptical about these properties, and you may push them away. Your research can start with carrying out a comparative market analysis. This is where you look out for other properties that are similar to the one you have at hand. Then, you analyze the similarities and differences between these comparable properties. You should also consider amenities and locations. This means that even if other comparable properties are going for a particular price range, yours could be slightly higher if it has a feature that these other apartments do not have, maybe a larger front yard or proximity to an infrastructure.

Alongside all of these, be sure to be very strategic in your marketing process. You can start by writing an engaging description of the property, highlighting its benefits. Also, move with the trend and utilize online platforms, popular rental websites, or real estate companies such as Pryme Point Real Estate Limited. You could also leverage social media to showcase pictures and include contact information. By following these steps, you are set to effectively market your property and attract the right tenants.