The rental market is exploding in the United States, with an estimated 22.4 million renters in the United States. However, many of those renters are cash-strapped, so they are extra discerning when looking at property to rent.
You need great property marketing to make your rental stand out and attract quality tenants. Use the tips below to advertise your rental and find your next tenant.
Start With Great Photos
Many renters start their search by looking online to examine the market. They view rental property websites to see what's out there, check out the pictures, and compare prices.
You must have great photos of your property for those who do this. You want it to immediately click with them online to convince them that it's worth investigating further and taking an in-person tour.
Highlight Unique Features
Many people just look for a roof over their heads when looking for rentals. However, a rental may have some things that make it stand out and more attractive for qualified candidates.
These may be amenities like:
- pool usage
- community areas
- grilling stations
- surrounding nature
Highlight every amenity that makes your property stand out. It will make it more in demand, attract quality tenants, and command a higher rent price.
Leverage Online Marketplaces
You can't count on people browsing an area on foot to find your property. Many take to social media and other online resources to find their next rentals. This is a great place to invest in rental marketing.
Put your property everywhere possible to gain the most number of potential tenants. Set up your property on social media, rental websites, and real estate marketplaces. Renters look at all of these types of websites when looking for a rental property.
Stay Competitive
Rents are increasing across the country. Some areas may have come down some, but that's the exception and not the rule. Many renters are now price-sensitive, which means you may not be able to get away with charging a higher-than-average rental price.
Look at the average cost of rentals in your area and price appropriately. Your market research should be able to give you the details for pricing, so include a reasonable price in your marketing strategy.
Partner With a Property Manager
Many real estate investors aren't marketers. They purchase property to generate passive income, so they don't think of what it takes to market a property and what attracting tenants takes.
A property management company knows how to do this. Contact one to learn how they can help you fill vacancies faster and see if they have any landlord tips that will help you optimize your listing.
Invest in Property Marketing
Although there are many people looking for rentals, there is a lot of competition from other properties. That means you must invest in property marketing to ensure the right tenants find your listing.
The good news is that there are property management companies that can help with landlord marketing. At PMI Pheonix Metro, we invest in our client's success to ensure they keep filled rentals and make rental income.
Contact us today to learn how we can help you manage your properties!
