February 5, 2021
When it comes time to find a new tenant for your investment property, investing in a great marketing strategy is of utmost importance. This will reduce your vacancy time and help you increase your ROI.
When you advertise your property, you want to make sure as many potential tenants as possible are exposed to it. This leads to a more successful tenant placement because it helps you source the best residents possible. Having a highly qualified tenant in place minimizes your financial losses. You’ll protect the condition of your property and give you the peace of mind that your property is in good hands.
Property management companies are experts at handling everything from marketing to tenant screening. I’ll share a couple of our proven strategies to find high-quality tenants who will treat your investment like it was their own.
Tip 1: Invest in Photography
Statistics for listings with pictures versus the listings that don’t have photographs show that those with photos receive 95 percent more views than listings that don’t. Hiring a photographer to take these pictures will be worth your while and ensure that your listing gives off the best impression.
Before having a photographer come over to take the pictures, make sure the property is clean and free of clutter. If you can, some light staging of the property could be a great idea. You want the pictures to give tenants an image in their heads of where they will be living, so it needs to look appealing. Ensure the kitchen, every bedroom, living space, and outdoor areas are all shown.
Advertising Tip 2: Be Descriptive
After your potential tenant looks over your property’s pictures, they will read the description.
It needs to be well thought out and highlight all of the benefits of living in this home. A good description will also help your internet searchability through SEO. Including the price, the number of bedrooms, city, and additional amenities like a pool or huge garage will draw in potential tenants, and describing more information about the home will make them want to see it in person.
Tip 3: Advertise Everywhere
Sites like Zillow, HotPads, and Redfin get millions of views every day. You need to make sure your listing is included on their sites. It would help if you also put up a yard sign since many potential clients will drive around the neighborhoods they want to live in. Social media marketing is also an effective and free way to lure prospective tenants and is something you should consider.
Bottom Line on Rental Property Advertising
Having a great rental property means nothing if tenants don’t know it’s available. Make sure your photography and copy stand out from the crowd.
If you want help with marketing or property management, real property management is here to help. Give us a call to discuss your options today.
