Are you stumped when screening for new tenants?
You're not alone. Across the U.S., landlords struggle to find people to fill vacancies - and putting up a "for rent" sign just won't cut it.
Fortunately, you can market your property effectively if you know how. Keep reading to learn how to do property marketing the right way.
Strategy #1: Make a Compelling Case
Compelling property descriptions and enticing photos are the cornerstones of successful rental property ads.
Your photos are the bait - and your descriptions are the hook.
Professional-grade photos are the first encounter your tenants have with your available rental units. A well-worded rental property description is what draws them in and convinces them to reach out to you.
Ultimately, you want to sell the experience of living in your rental properties.
So, focus on the benefits - not the features.
Don't say your property "has a balcony". Tell your tenants they can "enjoy their morning coffee on the balcony overlooking the city skyline". Doing so paints a picture in the tenant's mind and helps them fill in the gaps.
Strategy #2: Time Your Property Marketing Campaign Well
The timing of your campaign makes a huge difference to the number of interested parties you attract.
Plan and prepare ahead of time, and market your property during the right season.
As a general rule, it's best to market your rental property at least two months before it becomes vacant. That gives you enough time to attract potential tenants and screen them properly, saving you future headaches and keeping property vacancy time to a minimum.
It also helps you avoid rushing your marketing campaign, which might lead to you accepting a less-than-ideal tenant because you're desperate to fill the vacancy.
Keep an eye on local market trends and ask around to learn about the best times of the year to find new tenants. Certain times of the year, such as the start of the school year, may see a surge in demand. Timing your marketing campaigns to coincide helps you attract more potential tenants - and filter for the best of them.
Strategy #3: Employ Social Media
Facebook, Instagram, Twitter, TikTok, YouTube: You've heard of them all.
Yet many landlords continue to underestimate the potency of social media platforms for finding new tenants.
The key benefit isn't just reached and the prospect of attracting younger audiences (although that's a plus). The ability to engage with audiences in real time is attractive to many tenants scouring the internet for their next home.
In addition, you can use social media to host virtual tours, answer inquiries, and post photos and videos. Targeted advertising, while not as effective or tolerated as in the past, can still filter out different demographics.
Strategy #4: Work With a Property Management Company
You don't have to tackle rental property advertising alone.
In fact, it's advisable not to.
Property management companies have the experience and resources to market your rental property effectively. They handle everything from start to finish, with the main goal of keeping you - the client - happy.
Creating compelling ads, conducting property showings, and screening potential tenants are all part of their service package. They also have an in-depth understanding of the local rental market, which can help you price your rental property correctly and attract the right tenants.
Optimize Your Rental Property Marketing
Property marketing doesn't have to be a black box.
The key is to attract the right kind of tenants to fill vacancies fast. Remember to write compelling descriptions and take professional-grade photos. Employ social media to widen your net.
And when in doubt, hire a property management company to do the hard work for you.
All American Realty and Investment Group specializes in full-service property management across the Emerald Coast. As military veterans, we understand the needs of our nation's military personnel and help other veterans manage and rent out their properties for profit. Click here to learn more.
