People often say that if your product is good enough it will market itself. Back in the dot-com days, good enough was any vacant unit, for all we had to do was clean it and hang a “For Rent” sign out front. In just a matter of hours, there would be a line of people with applications in hand, hoping to rent your unit. These people were not looking for a view, laundry, gas stove and/or parking. In that tight market, they were simply hoping to find a vacant unit in the city by the bay. It is a very different story today. Unemployment is a reality to many, for most of the dot-com jobs have dried up or moved out of town. As a result, the number of vacant units has risen dramatically. “Good enough” is no longer any vacant unit. We now realize that we must each change...Read More→
Articles
Your unit is vacant. You have spent time cleaning it and upgrading the appliances and fixtures. Now the time has come to put it on the market. With the rules of rent control spinning in your head, you are determined to get the highest possible rent—so you aim high. Many landlords feel they can dictate market rents for their properties, so they market them on the high side. They take this approach in order to compensate for negotiations; and also in order not to be trapped with low rents in a rent- controlled unit. They conclude that by setting the rents high, they will eliminate financially irresponsible applicants. But in my experience, tenants dictate the market and what the market rents will bear. This is mostly a result of the Internet. Tenants are able to both research and compare available rentals more thoroughly than ever before, so this is why...Read More→