I'd love any ideas for more creative advertising in Edmonton. Our ads are on Kijiji, Rentboard and the PM's web site + a big sign on my property on Whyte Ave and a sign in the window of my unrented basement suite in Millwoods.
For my units on 82nd/Whyte Ave, the on-site manager says very few people are coming through the door to look at suites. The outside of the building and the property are well kept, but the building is a basic box, not an architectural marvel! The inside looks great, freshly renovated.
So far, we've offered existing tenants a dinner out + movie for two people for referring accepted tenants but no takers. We're offering new tenants incentives of half a month to one month free rent at the beginning of their tenancy with no lease. The PM said asking people to sign a lease of any length in return for an incentive wouldn't work since people feel too uncertain about the future to sign even a 6 month lease. My PM said telling new tenants they'd get December rent free wouldn't attract people in this market.
What's your experience with incentives?
This week I looked at online ads at what the neighbours are asking for rents, saw they'd lowered rents and told my PM to lower my rents so we'll see if the units rent up.
I also wrote a tenant survey for my PM to give the tenants to find out what they want most and don't like so we can keep the existing tenants. My own landlord (600 units where I live) ran a survey and got some good suggestions and feedback.