Marketing Your Rental Property
The work of a landlord isn’t just to collect rent at the end of the month. It’s much more than that. As a landlord, you also have to be a supervisor, a salesperson, a maintenance person and – you guessed it – a marketer!
A vacant property is every landlord’s worst nightmare. It essentially means no income at the end of the month. Also, it costs money for every day that it sits empty. That’s why some marketing skills are important in this kind of business.
The right marketing tips will, needless to say, help you fill your rental vacancies quickly. Gone are the days of just putting up a “For Rent” sign on the street corner and hoping for the best results.
In this article, you’ll learn the 5 essential tips to marketing rental properties. These are the same key points that Upkeep Media helps property management companies implement for their business and the thousands of rental properties they all manage professionally.
Tip #1: Make sure your property is rent-ready.
It goes without saying that a clean, neat, and orderly home will rent faster and for a higher amount than one that looks unappealing.
Now, there are a lot of things that go into making a home rent-ready. So before you begin marketing your rental property, ask yourself the following questions:
Does my property need a little curb appeal?
First impressions matter. Make a lasting one by taking care of your yard. Some things you could do for your yard include trimming bushes and trees, spreading mulch, pulling weeds, and mowing your lawn.
Do the carpets look clean and inviting?
Your home isn’t rent-ready if the carpet is dingy, smelly, or stained. Get a professional to restore and clean your carpets.
Are there signs of pest infestation?
Pests are unwanted guests that no tenant wants to deal with. Take care of these unwanted problems before marketing your property.
Are there safety concerns?
Make sure to repair anything that poses a safety risk. Check decks, stairs and handrails to ensure nothing is loose or otherwise may be dangerous to your future tenants.
Does paint look curled, chipped or otherwise unappealing? If so, then you need to give the home a new paint job.
Does the home look clean?
This one is a no-brainer. Give the place a good scrubbing and once-over.
Tip #2: Take high-quality photos of the property.
With most prospective tenants browsing the internet for apartments before attending a property showing, it makes having quality photos even more important.
Unsure how to take amazing photos of your rental property? Here are some few tips to help you:
Use a digital camera. The high resolution it offers will be able to do your property some justice.
Switch off the flash. You want your photos to look real.
Take the pictures during the day. However, for the best quality photos, remember to keep the main source of light behind you.
Experiment, experiment, experiment! Try as many angles as possible.
If necessary, touch up the photos.
Before taking any photos, ensure your property is clutter-free and staged. This way, prospective tenants will be able to picture themselves residing there.
Tip #3: Include social media in your marketing strategy.
Social media can be a great marketing tool. If you know how to use it, that is.
Do you plan to create a video of your rental property? If so, then YouTube can be a great platform to use. Just make sure to include your contact info and keywords when describing your property.
LinkedIn is generally full of working professionals. When used the right way, it can become a source of reliable tenants.
Twitter can be a great way to find referrals who might be interested in renting your property. Just remember to include an image when tweeting about your rental property.
Facebook is another way to get referrals. Simply post your listing and ask your friends to share it.
Remember, though, no one likes to get spammed. It’ll only make your connections to become annoyed and then possibly disconnect from you.
Tip #4: Create the best ad possible
A well-written ad can make the difference between attracting high-quality tenants and attracting low-quality tenants. So take the time to create an ad that is detailed and interesting. The following are some elements that you should include in your rental ad:
Keywords: Include keywords that prospective tenants interested in your property could be searching for on search engines.
Include high-quality photos: Remember the tips we mentioned earlier? This is your chance to use them!
Include directions: You could write the directions yourself or you could just include a Google map on your site that includes a pin dropped at the property’s address.
Be specific: Make sure you explain your property in great detail. At the same time, ensure that you are as comprehensive as possible.
Tip #5: Consider multiple marketing methods.
Property owners who want to maximize rentals need to use a combination of marketing techniques. Aside from social media, make sure to also use:
Rental listing sites: Popular rental listing sites include Craigslist, Hotpads, Realtor.com, and Zillow.com.
Yard signs: While no longer as effective as they used to be, yard signs are still a great way to advertise vacant properties.
Word of mouth: Do you have a strong landlord-tenant relationship with your current tenants? If so, it’s likely they would want to spread the word among co-workers, friends, and family.
These are the 5 best tips on marketing your rental property. Remember, while filling your vacancy is key, getting the right tenant is especially important. So, make sure you screen all prospective tenants thoroughly.
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