While you may have no problem leasing out your apartment right now, who's to say this will be the case in two years' time?
Even in markets highly saturated with prospective tenants, it pays to use marketing techniques to attract the cream of the crop.
Help future-proof your business by investing in marketing tools that will set your property apart from the pack.
No matter the rental market, with the right tools in your back pocket, you can help your property stay occupied, with great tenants. And what landlord wouldn't want that?
Zillow is the web's leading real estate and rental marketplace. With a database of over 110 million homes for rent and sale in the USA, it is a go-to site for both landlords and tenants.
Zillow provides free listings and offers features such as an interactive map or a tool to compare properties side by side.
Although Zillow is one of the most popular websites to list rental properties on, there are others such as Hotpads(acquired by Zillow in 2012) and Trulia(also owned by Zillow...) that you can use as well.
To read more information about online marketplaces such as Zillow, check out our article: Top 11 Websites to List your Properties on.
Social media is one of the most effective tools you can use to market your rental property. In 2019, there are an estimated 2.77 billion social media users around the world according to Statista.com. A large percentage of those people may be in the rental property market.
We recommend using social media to promote your rental properties and drive traffic to your website or listings. Whether it be through Facebook, Instagram, Twitter or Facebook, we can almost guarantee that it will have a greater reach than a poster in your local supermarket.
Some great tips we have heard from landlords who use social media include posting links to your listings on "Rental properties wanted" type Facebook pages or sharing images of your rental property on your Instagram story.
As most of us use social media almost every day, utilizing at least one social media channel to boost your business can be easy. If you are new to social media, try asking a younger person in your family or a fellow landlord about how to set up your social media page or profile (there's no need to pay an expert).
This is especially important for landlords with a growing property portfolio who are yet to go digital. A website can make you look professional and modern, without costing the earth.
With content management systems, such as WordPress, you can create your own website from scratch, without having to hire a developer.
On your website, make sure you include your contact details (email, phone number, social media handles) so that prospective tenants can get in touch with you easily.
Get a friend to test your website before it goes live, to make sure it is easy to use and navigate. There is no point having a web page if it looks straight out of the early 2000's.
Which brings us to our next tip...
A little time and effort put into your personal and business brand can go a long way when it comes to building rapport with prospective tenants.
In light of your target audience, how do you want clients to perceive you? It can pay to hire a professional to help you put together a powerful brand image.
Once you have your brand sorted, it's time to start making sure your brand is consistent across all your marketing channels. From business cards to Facebook, who you are as a Landlord and the values you represent, should be clear from your marketing platforms.
Don't forget, people love free stuff - especially stuff they can actually use. Bulk order some branded pens that you can hand out at open homes with property fliers. You could even do a Facebook competition to give away branded coffee mugs (the options are endless - you just need a little imagination).
One of the most effective ways to build trust and your reputation is to do good within the community. Try sponsoring a local sports team, school event or festival to get your name out there.
If you live near a university and your target market is students, you could even host a seminar for renters new to the market and hand out fliers for vacant properties afterward.
If you lease out properties in a niche market, try sponsoring events that align with your business. For instance, if your property appeals to owners with pets, put your hand up to sponsor the local dog show or pet rescue.
Getting involved with the community is not only a great way to network and build relationships, it always feels good to give back.
We hope you found this blog interesting! However, do note that it should not be used as a substitute for competent legal and/or other advice from a licensed professional.
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