Placing a “for rent” sign in front of your property is only one small part of the marketing process. Today, you can use several different channels to make sure your property is leased as soon as possible. Keep reading for some top tips on marketing your rental property.
High-quality images and virtual tours
Images are often the first thing a prospective tenant sees in a property listing, so these need to be high quality. Using a professional photographer for rental properties is a relatively cheap option (usually under $100) but the quality of the photos that they take is excellent and will make your property a lot more attractive to tenants.
You could also consider adding a virtual tour option. This can be completed by doing a video walk-through of your property or using 3D imagery to create a rendering. Virtual tours have become particularly important over the last 18+ months due to COVID-19 restrictions and lockdowns. A virtual tour can show people more of a property and garner more interest. In contrast, it can also allow people to see more of the property and even decide not to view or apply. It’s a win-win: if people have viewed the virtual tour and they’re still interested, they may just be that little bit more interested than if the listing only had photos.
Use social media
When a new property goes live, make sure you share it on your social media channels. One of your followers may see the post and immediately want to view and apply for the property, or they may share it with a friend who’s looking for a new home. Either way, social media is another great channel for getting your properties seen.
List where the searches happen
While some property search websites may charge lower fees for listing properties, this saving isn’t worth it if potential tenants aren’t searching on these websites. Make sure you list your property on the major real estate search websites in your area. By listing on these sites where many people are looking, you’ll know quickly if your listing and price appeal to the market. If you don’t receive many enquiries, it might be time to tweak the listing and the property’s price.
Don’t forget amenities
Different people have different priorities when it comes to properties. Some people would rather live in a place that isn’t quite their dream if it means they’re in a specific location. However, other people would prefer to have all the features they want in their property, even if that means living outside of their ideal location. Make sure your advertising copy includes information about the property and the community, so you’re addressing both kinds of people. You might list the property’s best features and some notes on the community, such as activities, proximity to schools and parks, cafés and restaurants, and other local amenities such as libraries and swimming pools.
Whether you’re advertising your property after a break lease, or you’ve got a little more time up your sleeve with a tenant vacating soon, effectively marketing your property is critical for securing a quality tenant quickly. By making sure your photos are high quality and that you’re connecting with your community, you’ll have your property leased in no time.
Remember, this article does not constitute financial or legal advice. Please consult your professional financial and legal advisors before making any decisions for yourself.