With this current recession, Bermuda is experiencing an unprecedented amount of empty rental properties with many landlords scrambling to get them occupied.Some have been successful in a quick rental and some have not, with the question hanging over their head, “Why hasn’t my property been rented yet?”With so many units available, the rental market has become highly competitive and most tenants are able to leisurely choose where to live.Here are some suggestions you may want to consider:Don’t panic! Landlords have grown so accustomed to the period where their property was on the market for a week or two and rented at the asking price without hesitation. This recession has altered the real estate market considerably and with it now being a “renters” market, a level head and patience will prevail.Be realistic with your asking price. As with any homeowner, you want the highest amount of rent for what you are trying to rent. Some rental prices have drastically dropped approximately 25-30% to find a tenant, which most landlords have been reluctant to accept. Ask your realtor to help you find a price that the market suggests your property can be rented for and be flexible on offers that are presented.The one trap to avoid at all costs when pricing is the comparison with other properties that you are not familiar with. For example, you may hear that your cousin’s next door neighbour rented her 3 bed, 2 bath waterfront cottage for $4,000, so why shouldn’t you ask for your same sized 3 bed, 2 bed lower apartment tucked away in a valley be rented for the same?A very simple answer with this example — location and cottage vs. apartment. Though the size may be the same, the waterfront cottage has more to offer — views and a stand-alone home.Be open to “stage” your property. When a property is vacant and completely devoid of any type of furnishings, many prospects have a hard time visualising where a couch, table or other furnishings would go. To assist, consider placing some minor furnishings, such as wall pictures, a chair or two or place some decorative towels and shower curtain in the bathroom. Not only does it give the prospects some ideas, it also makes the unit feel more invitingBe sure to keep the property ready for showings. This is a very important suggestion, as today’s tenant would expect to see a unit in its best form, with it clean and fresh.Be open to offer incentives not normally offered. This has been a growing trend in Bermuda with landlords offering incentives to have their property rented, that’s outside of the norm, such as lawn care. Such incentives can vary from including a cable or internet package in the asking price, the first month of electricity paid by the landlord, even a gift certificate from a store that offers home wares can be quite attractive.Be open to pets. Most people who are pet parents will go out of their way to find a home that will accept their four legged family members. Landlords can be quite opposed to pets for various reasons, but also blocking themselves from a large portion of the tenant pool. If damage or fleas are a concern, talk to your realtor as special conditions can be inserted in the lease to address these issues.Furnish or not to furnish? A lot of landlords go through this decision as a furnished property would be most attractive to a tenant who just arrived in Bermuda. With that, most people who are already here have their own personal effects. If you have your property furnished, be open and prepared to have some or all items removed and stored.Take the opportunity to upgrade or renovate. A lot of people have done so with their homes being reintroduced with amazing results. As it’s preferable to have everything modern and new, these properties typically don’t stay on the market long. With that, don’t go overboard with the renovations — nice yet simple is attractive and not a killer on your wallet.As these suggestions are no guarantee that your property will rent immediately, they will help to keep them ahead of the existing competition. If you are in need of assistance on having your home rented, I am more than happy to help you.This month’s column is submitted by Kenneth C. Richardson of Coldwell Banker Bermuda Realty, 441 247-1827, or e-mail: krichardson@brcl.bm.