Property managers are sometimes able to negotiate with their prospective tenants in an effort to create a win-win situation. If your building isn't at full capacity and the owner is anxious for more tenants, he or she may give you the approval to offer various incentives to a few key individuals who have expressed interest in renting with you. One obvious way to secure a tenant is to reduce the rent. However, if the property owner hasn't yet agreed to this, you can use some other incentives to sweeten the deal as the property manager. Here are some things that you might wish to try:
In residential buildings, it's common for tenants to pay different prices based on where they park. For example, some buildings have underground and above-ground parking lots, and spaces underground may go for a little bit more money each month due to their secure nature. If you're negotiating with a prospective tenant and want to offer an incentive to him or her, you might suggest that the tenant pays for the lower monthly parking fee but that you arrange him or her a space in the higher-priced parking structure.
Better Side Of The Building
Another tool to use in your negotiation is to offer a prospective tenant a unit on the better side of the building. Many residential units have dramatically different views based on the side of the building the unit is on. For example, one side's units may look out over a large park, while the others could face a retail development. The former is usually preferable to tenants, but they may not always want to pay a premium if these units are priced higher. You may wish to offer a premium unit for the monthly rent of a regular unit.
If the residential building has a gym club on the premises, residents will sometimes have a membership as part of their rent. In other cases, however, residents who wish to use the facility will need to pay a nominal membership fee each month. If you're looking for an additional way to entice a tenant to rent with you, offering a discounted monthly membership or even a certain number of months for free can be appealing. Together, these strategies can be effective for securing a tenant, as well as giving the tenant the feeling that he or she has made out well in the negotiation.
Contact a local property maintenance service for more information and assistance.