Christian Osgood says landlords should upgrade units with stainless-steel appliances or dishwashers, then price them at or slightly below competitors. This positions the property as the best value and eliminates vacancy.
If you can answer this one question, you're going to eliminate vacancy and maximize your rents in 2024. What can we do to set ourselves apart from what everyone else is doing? It could be something as simple as, hey, we're going to upgrade to stainless steel appliances, or we're going to add dishwashers where other units do not have those. The little things like that that say, hey, this place is just a little bit better than everything else in the price point. The other thing Cody and I are going to do is we're going to match or come in right below the pricing of our competition.