Now that you have made significant real estate investments in your portfolio, you want to start getting people into them to start making a profit. You’ve renovated the space, added amenities, and created a space people should want to move into. However, finding qualified tenants to fill your vacancies can prove more challenging than you anticipated.
If you’ve been inundated with applications from unqualified applicants, it can waste valuable time getting people into your rentals. To get the right people into your properties, you may need to rethink how you advertise and market your space’s availability. Here’s what you need to know about marketing your rental properties more effectively.
The first step towards bringing in more qualified leads is rethinking how you present your properties to potential renters. If your listing doesn’t put its best foot forward, the higher-end renters you’re targeting might pass it by, and you’ll be left with people that may not be able to meet your expectations.
Highlight your property’s best features and take advantage of engaging images and videos to pique people’s interest. Making your listings more dynamic will hold potential renters’ attention and give them more reasons to stick around and explore your listing.
On the home rental market, finding the right price for you and your potential renters is vital to your long-term success. Conducting thorough market research of your immediate area and comparable properties will help make this part of the process go more smoothly. Does your neighborhood’s typical rental prices skew high? What kind of amenities do they offer? Knowing this can help you set a competitive price that doesn’t scare off potential leads.
Choosing where to list your rental property plays as big of a role as the content of the listing itself. In most cases, different real estate apps and platforms have specific demographics that they serve and are popular with.
If you are in an area that tends to target upper-middle-class residents, choosing a platform that has more single young professionals still making a name in their career may not give you candidates who can meet your rental prices, and your listing sits there for months on end, not gaining any traction.
Like most industries, the rental market has its own peak seasons when more people are looking for a new home to rent. Typically, the spring and the summer see more people on the hunt for a new home, but these factors can vary based on your location. Know when your particular area tends to see spikes in demand and new tenants, and plan your listing strategy around capitalizing on these opportunities.
It’s not just the rental platforms that can help jumpstart your search for qualified tenants — social media can help increase your reach. With the right mix of community groups and established networks, you can get your listings in front of more eyes than you would otherwise. Using platforms like Facebook, YouTube, Instagram, and Twitter to promote your properties, virtual tours, and even unique platform specific listings can help improve your prospects dramatically.
ANCHOR Realty NE has helped countless property owners market their properties with our rental property management services in Philadelphia, PA. We work with our clients to present their properties in uniquely dynamic ways, drawing the interest of qualified renters and filling your vacancies quickly. Learn more about our marketing services and how we can help better position your rental property for the future!
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Has your rental property been sitting unoccupied for long stretches? It could be how you’re marketing it. Learn how to give your listing a boost now!
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