There’s no right or wrong way to market your rental property, but there are some tips you can follow to increase the likelihood of quickly finding a quality tenant. Here are eight tips any landlord can follow.
1. Use Professional Photos
High-quality photos can make your rental property stand out from the competition. Hiring a professional photographer ensures that your property is showcased in the best possible light. Professional photographers know how to capture the right angles and use lighting effectively to make each room look spacious and inviting.
Include a variety of photos, such as wide shots of each room, close-ups of key features, and exterior shots of the property and its surroundings. Well-composed photos not only attract more views, but also set the right expectations for potential tenants, reducing the chances of disappointment during in-person showings.
Here are some additional tips:
- The exterior shot is the most important: The first photo should always be an exterior shot, ideally taken half an hour before or after sunset, or in the early morning. Twilight shots with exterior lights can create a stunning effect. This photo should captivate prospective tenants.
- Keep photos straight: Use a tripod and a wide-angle lens (around 28 mm) on a quality SLR camera. Avoid smartphone cameras, as they aren’t wide enough for smaller spaces. Straight, well-composed photos attract more interest.
- No flash: Natural light maintains the property’s atmosphere. Flash can overexpose photos, making the property seem uninviting and highlighting flaws.
- Think hard about which photos to show: Online real estate hunters spend 60% of their time looking at photos. Avoid blurry or unfocused shots. Hire a professional if necessary to ensure your photos convey care and professionalism.
2. Write a Detailed Listing
A detailed listing provides prospective tenants with all the information they need to decide if your property is right for them. Start with a catchy title that includes essential details like rent price, number of bedrooms, and unique features. Follow up with a comprehensive description that highlights the property’s best attributes.
Include key information such as square footage, recent upgrades, and amenities. Don’t forget to mention practical details like parking availability, pet policies, and nearby conveniences.
A well-written listing helps attract serious inquiries from tenants who are genuinely interested in what your property has to offer. See our complete guide on how to write a rental property listing for even more insights.
3. Take Advantage of Online Advertising
Online advertising can significantly boost the visibility of your rental property. List your property on popular rental websites and social media platforms. Websites like Zillow, Craigslist, and Apartments.com are frequented by prospective tenants searching for their next home.
Leverage social media by posting in local groups and using targeted ads to reach a specific demographic. Online advertising allows you to reach a larger audience quickly and can lead to a higher volume of inquiries. Ensure your online listings are always up-to-date, and respond promptly to inquiries to maintain interest.
4. Understand Your Demographic
Understanding your target demographic helps tailor your marketing efforts to attract the right tenants. Consider factors such as age, lifestyle, and needs of the tenants you aim to attract. For example, if you’re targeting young professionals, highlight proximity to public transportation, trendy restaurants, and co-working spaces.
To attract families, emphasize good schools, parks, and safe neighborhoods. Tailoring your marketing message to appeal to your ideal tenant increases the chances of attracting renters who will appreciate and take care of your property, leading to longer tenancy periods and fewer vacancies.
5. Put a Custom Sign in the Yard
A custom sign in the yard can attract local interest and drive-by traffic. Ensure the sign is professional and easy to read and includes essential information such as rent price, number of bedrooms, and a contact number. A visually appealing sign can catch the eye of potential tenants who are already in the area looking for rental properties.
Including a QR code that links to your online listing can make it easy for interested parties to get more information instantly.
This simple, cost-effective strategy can attract quality tenants who might prefer the neighborhood and are looking for properties nearby.
6. Offer an Incentive
Offering an incentive can make your rental property more attractive. Consider incentives like reduced first month’s rent, a free month’s rent after a six-month lease, or including utilities in the rent. Incentives can motivate prospective tenants to choose your property over others.
Additionally, offering small perks such as professional cleaning before move-in or flexible lease terms can also be appealing. These incentives can help fill vacancies faster and make tenants feel valued and appreciated, which can lead to longer tenancy and better landlord-tenant relationships.
7. Schedule Property Showings
Scheduling property showings, whether one-on-one or through open houses, is a crucial step in attracting prospective tenants. One-on-one showings allow for a more personalized experience, giving potential tenants the opportunity to ask specific questions and explore the property at their own pace. On the other hand, open houses can bring in multiple prospective tenants at once, creating a sense of urgency and competition. Advertise your showings through online listings, social media, and local community boards. Before any showing, ensure the property is clean, well-lit, and staged to highlight its best features.
Provide brochures or flyers with detailed information about the property and the application process. Being available to answer questions and provide tours helps potential tenants feel more informed and confident about renting your property. Effective property showings can lead to increased interest, more applications, and a quicker rental process.
8. Network, Network, Network
Networking can open doors to potential tenants and referrals. Connect with local real estate agents, property managers, and community organizations (the BiggerPockets community is a great place to start). Attend local events and join landlord associations to expand your network. Word-of-mouth referrals can be a powerful tool in finding reliable tenants.
Encourage current tenants to refer friends or family by offering referral incentives. Engaging with your local community and building a network of contacts can provide a steady stream of potential tenants and valuable insights into the rental market. Networking helps you stay informed and connected, enhancing your property marketing efforts.
Final Thoughts
These eight tips will help you market your rental property to the right kind of tenants. As you implement this guidance, make note of what’s working, what isn’t, and the changes you can make for greater efficiency.
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Note By BiggerPockets: These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.
