Find Great Tenants: Rental Property Marketing Tips
Whenever you are about to list a property “For Rent,” it’s possible to feel the stress move over you. Locating good renters is not easy–particularly when you are up against a close deadline to avoid longer-than-needed vacancies. You know that each day that a unit is vacant, it is costing you money.
What will make your job go easier? Create a marketing plan, as well as a clear concept of who you need to rent your property out. Once you figure out a technique which works, it is possible to have a plan prepared to go each time a resident makes the decision to move out.
Here is how you can market rental listings in order to fill vacancies quicker, as well as save yourself some stress.
Identify Target Market
Before deciding to post the listing everywhere: Do you actually know the audience you are targeting? Identifying your target market for the rentals is going to assist you in determining precisely how to reach the proper individuals. Some renters like to browse vacancies using specific websites, whereas other ones like to browse openings in apartment buildings close to them. When the rental listing sprouts up in the same area where your target audience is looking, it is like two soulmates that find one another. You should also cater your listing to your target demographic. Depending on your target market, you may highlight luxury features vs. conveying a no frills bargain.
Take Advantage of Any Online Rental Listing Sites
There is an abundance of methods of promoting your property. Take advantage of the most popular websites and test some new ones out occasionally. Since there are so many various platforms for locating apartments, posting the listings in more spaces cannot hurt.
As you are showing the properties, ask folks how they located your rentals. Over a period of time, you will not just have the ability to keep track of where the majority of the traffic is stemming from–you are going to gain a sense of what tactics are a waste of time, and what newer channels are gaining traction.
Here are five sources for marketing rental listings on the internet:
Market Offline, As Well
Offline marketing isn’t dead! The power of the “For Rent” sign on a busy road can go a long way, especially among more mature renters. What is vital is getting the property seen by as many folks as possible.
- Post on bulletin boards at schools, shops, and local restaurants
- Post an advertisement in your local newspaper
- Place some “for rent” signs around your property
Create Quality Listings
You already have a hundred things on your list of to-do’s and it is easy to place writing in-depth rental listings or taking fabulous pictures on the back burner. However, when it comes to filling up vacancies creating a strong description will do wonders. Whether renting or selling your home, the tips for quality listings are the same.
Take some time to create in-depth descriptions of all rental amenities which capture potential renters’ attention, as well as paint a picture inside their minds. Answer as many fundamental questions as possible, which includes deposit and rent amounts, pet policies, as well as other general concerns. It is going to prevent a multitude of unnecessary phone calls and emails from potential applicants.
As you create the description, try not to hype things up. Emphasize attractive features while being completely straightforward about the property’s reality. You need to get the proper tenants coming through your door, not those who’ve been misled by the description. Showing the rental property takes time–therefore, why waste time on those applicants who will not be satisfied in the unit in the end?
The photos matter, here are ways to improve the quality of your images:
- Avoid dark or grainy photos.
- Take the pictures in the bright of day, with windows open and lights on.
- Use or borrow a wide angle lens camera if possible.
- Edit your photos, lightening, darkening, and cropping.
- If you are shooting while previous tenants are still there, clear off surfaces. NEVER shoot a messy home.
Finally, bear in mind that most renters are going to be browsing your listings on tablets and smartphones; therefore, double-check that all things display properly from your own devices.
For tips on creating better listings, photos, and staging, read these
Perfect Customer Experience
All the steps which go into filling up a vacant unit may have you stressed; however, it is vital to not allow that to show when you are engaging with potential renters. The experience created for potential renters may have a strong negative or positive impact. Even if somebody does not wind up renting the unit, if you have offered an excellent customer experience, they just may recommend you to somebody else who is on the lookout for some place to live.
- Be very attentive. Do not take phone calls or read emails when you are showing a unit to somebody.
- Be kind on the phone and in person. When folks get in touch with you to inquire of a property, you ought to strive to always be polite, as well as inviting. A swift phone call often is all of the time it takes for a potential renter to determine if they want to rent from you–and within a fiercely competitive rental market, customer service is critical.
- Train members of your team to have the exact same values as you. When the whole team is on board, it is a lot easier to make sure that you are providing an excellent customer experience. One member of the team whose phone skills are not ideal will ruin what you are attempting so hard to build.
What have you learned thus far about how you can effectively market rental listings? Share your stories with us below!
For more information on rental property marketing tips contact Utopia Management® today at 800-294-4656.