As a landlord, you wear a lot of hats. You’re a supervisor, maintenance person, and even an advertiser. The success of your rental property will depend on how well you can attract and retain good tenants which requires some savvy marketing skills. Here’s how to market your property well and attract great tenants.
Know Your Target Market
Before you begin marketing to potential renters, you need to determine your target market. First, take a look at the neighborhood and location. Is it close to downtown and filled with young professionals? Is it situated in the suburbs and surrounded by families? Every neighborhood has its own characteristics and by understanding who lives there and what they value about the area, you’ll have an easier time refining your target market and creating marketing initiatives that attract the right people.
Market the Community
Once you have a good idea of your target market you can create an advertisement that will appeal to potential renters. It’s important to keep in mind that even though different people value different amenities, everyone values their community. That’s why you want to market the community just as much as you market the property. If you’re marketing to young families, this could mean emphasizing a safe neighborhood, easy access to parks and playgrounds, and good schools and daycare centers. For seniors, this might mean emphasizing access to senior and recreation centers, libraries, and accessible walking trails.
Use High-Quality Pictures
Using high-quality pictures is one of the best ways to find tenants for a rental property. Think about how you shop for a new shirt online. You start by doing a broad search, and then you narrow down your options by what appeals to you. You click on the pictures to get a better look at the shirt’s color, see how it fits, and get a closer look at any special details. Your potential renters are doing the same thing when they’re looking for a new place to live.
Here are a few tips to help you take quality photos of your rental:
- Use natural light: Poor lighting can make rooms look cold and uninviting. The afternoon is the best time to take pictures. Open all the curtains or blinds to let in as much natural light as possible. Also, be sure the main source of light is behind you so that you can get the best pictures.
- Choose the right angle: Taking pictures at different angles can change the way the property looks. To make sure you get the entire room in your photo, don’t stand in the middle of the room. Instead, stand in different corners to snap the picture.
- Remove the clutter: Before you take pictures, clear all clutter. It’s even better if you can stage each room with furniture and accessories. This will help potential renters envision living there.
Create an Attention-Grabbing Listing
In addition to great photos, the property description is the second most important part of your advertisement. While pictures showcase the space, you’ll need to spell out the fine print like lease terms, rent and security deposit amount, when the unit is available, if you offer parking, and what utilities the renter will be responsible for. The more detail, the better!
- Include the price: By including the price in your listing, you can make sure you don’t spend unnecessary time responding to calls and emails from people who aren’t part of your target market.
- Use adjectives: Using the right adjectives can give your listing some personality. For example, instead of simply writing that your rental property has two bedrooms, you can say it has two bright bedrooms with spacious closets.
- Mention specific features: If the property has popular amenities available such as hardwood floors or brand-name appliances, don’t forget to include this information in your listing.
Use Multiple Marketing Methods
After you’ve created the ideal listing, you need to know where to advertise the rental property. To reach the right tenants, you have to post your listing in the places where they’re looking. This means you might need to consider multiple marketing methods.
Here are some of the top options to keep in mind:
- Yard sign: Using a yard sign is a classic way of marketing a rental property. While it’s still a tried-and-true method that works, you don’t want to use a yard sign alone since potential renters could be living in a different city.
- Online: Posting your listing online helps you dramatically increase your reach to a large pool of renters. Online listing can connect you to qualified renters faster than traditional advertising outlets like yard signs and flyers.
- Social media: While there are some regulations regarding advertising housing on social media, you are free to spread the word that you have a vacancy to your personal network.
Putting your rental listing in front of the right potential tenants is crucial for the success of your property. To find renters today, post your property now on Zumper!
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