How to advertise your rental property

Advertising your rental property can be hard. By advertising your rental property as a landlord, you can attract and retain your tenants, as per Stephen Michael White from RentPrep. If no one knows about your property, how will they move in and how will you benefit from it. Worry not because we have outlined certain things you can do to market your property better and have high-quality tenants line up at your door.

What are the best platforms to advertise rental properties?

The best platforms to advertise rental properties are crucial for you. Use the best platforms to advertise rental properties to find a potential renter, as per Brian Carmody of Investopedia. However, it can be a pain to find the right platform. Luckily, we have found a few really good ones for you to choose from:

• Zillow Rental Manager
• Realtor.com®
• Apartments.com
• Rentometer
• Avail

 

What are tips for marketing rental properties online?

Finding tips for marketing rental properties online is honestly no joke. These tips for marketing rental properties online can improve your advertising game, as per Abby Miller from DM News. How do you possibly know what will resonate with your prospective tenants? Here are the tips for marketing rental properties online:

1. Highlight The Best Features of Your Property

This is perhaps the most important tip that you must remember, as per Mickey Deming from Avail. What is different about your property? What are its best features? Make sure you add all of that in the description. If your property has a good public transportation system nearby or if it is surrounded by popular landmarks, market that as much as you can.

2. Price Your Property Correctly – this is important!

In our experience here at Big Town Real Estate, we think the key is to set a justified price for your rental property. Do not make the mistake of setting the price too high so that potential good tenants run away. Notice we said good tenants will run away. This is because, good tenants are the kind that have great jobs, great credit, are great with people when you call them to talk to them. Everybody wants great tenants, and so, great tenants will not bother with an overpriced listing. Great tenants are desired by landlords and thus, great tenants will have no issues getting a place that is priced at market, or even below. But guess who is not able to get into good properties at good prices? Bad tenants, that’s who. Ones with bad credit, no real job, stories that don’t add up, etc. If you list your property too high, and think you are making a few extra bucks- good chance you have scared away good tenants, and are now going to rent to the type of people that nobody else wants to rent to- not worth the hassle for $125 extra dollars per month! Go through other rental listings and do market research to know how the local rents are at the moment, and price yourself fairly. 

3. Share on Social Media

Do not underestimate the power of social media. X, Facebook, Instagram, YouTube and other social media sites are going to come really handy when you are trying to expand your reach. Make videos of rental property and upload them on YouTube or Instagram reels. You might be surprised by the engagement you receive.

4. Treat Tenants Right

Make sure you treat your current tenants right. Because they can advertise your properties for you. They might leave positive feedback or recommend your property to others.

How to take professional photos of rental properties?

If you don’t take professional photos of rental properties, it can be difficult to reach qualified tenants. Thus, you must take professional photos of rental properties, as per Luke Marsh from Forbes Communications. That is because they are actually the most important part of your advertising. Most of the renters will look at the pictures before even looking at the descriptions. Good photos can make all the difference. So, hire a professional photographer who can take beautiful photos of your property and make it look attractive. But, if you are on a tight budget, it is not necessary to hire a photographer. Get yourself a decent camera and a tripod and capture the best parts of your property. Our experts at Big Town Real Estate recommend that all you need are clear pictures.

How to write compelling rental property descriptions?

It is also important to write compelling rental property descriptions, other than photos. It is not difficult to write compelling rental property descriptions, as per Ben Luxon of Landlord Studio. Make sure that you include all the important features of your property in your property descriptions. Here are the things you should be including:

• Floor plan
• Rental price
• Square footage
• Nearby attractions
• Number of bedrooms and bathrooms
• Application criteria and fee

Other than these pointers, you can also include additional features that you think can attract prospects. If your property has any advanced features that will make it stand out, do not forget to add them.

How to use social media for marketing rental properties?

If you still do not know how to use social media for marketing rental properties, you are missing out. Social media for marketing rental properties is an effective advertising strategy, as per Ryan Barone of Inman. It can be a powerful tool to reach active property seekers. 74% of people use social media to decide on purchasing habits. The team of experts at Big Town Real Estate believe that social media can be the most effective strategy for advertising. Here are the platforms you should be using:

1. Instagram: Use Instagram Reels to market your property. Take videos of your property in natural lighting and list out the features in the captions or on the screen. Use Instagram stories as well. More than 400 million users use that feature.
2. YouTube: YouTube is another online platform where you can upload virtual tours and show clients how the renting experience can be. Upload videos at regular intervals to keep the viewers engaged. Make sure to reply to any queries the clients may have in the comment section.
3. Facebook: Facebook is another platform that can be amazing to find new clients. Join relevant groups, upload photos and videos, and list out all the features in the captions. Moreover, reply to queries regarding the property. Facebook is good for putting things out to your network, and way more often than you think, putting out facebook posts or facebook ads, will get engagement.

This was all about the different platforms you can use. But, navigating these platforms can be a different problem altogether. Here are certain things to keep in mind when using social media for real estate purposes:

• Make Contact Information Accessible: A mistake you could be making is that you forget to add contact information to your listings. How will the renters even reach out to you? Add your number or email ID on every post you make and make sure it is easy to locate. Plus, write it on your bio as well.
• Use Facebook Marketplace: You aren’t using social media right if you do not use Facebook Marketplace. A large percentage of people use this feature on Facebook to find new properties. So, finding a prospective renter who’s looking for your rental units can be easy. More than one billion people use this feature on Facebook every month.
• Use Social Media Ads: Simply an online listing may not reach a wider audience even if you have high-quality photos and detailed descriptions. Another way of reaching your target audience is investing in social media ads. It might set you back a few dollars but it can be worthwhile. It can be effective in reaching your target market.

 

What are local advertising methods for rental properties?

There are also some local advertising methods for rental properties. Local advertising methods for rental properties can help you establish yourself in the rental market. You have many advertising options even when you are trying to locally reach a wide audience. Here are the things you can do:

1. Word of Mouth

When has word of mouth not worked? If you have a current renter, make sure you let them know that you are looking for new renters. Ask them to speak to others and find out if they know anyone who’s looking for rental properties. Talk to your family and friends as well and ask them to spread the word to create a vast network.

2. Use Rent Signs!

If you have got a property up for rent, you have to let that be known. Sticking a rent sign on your lawn may appear old-fashioned to some, but it does still work. The reality is that many people moving to a neighborhood STILL TO THIS DAY- drive around the neighborhood to see what is up. They will do this before they will go on apartments.com, or zillow– which means, they might just call you right from their car, and you can lock up a tenant right then and there, before they even start looking elsewhere. It is cost-effective (Basically free) and most importantly, leads to a high number of leads. 

What are cost-effective ways to advertise rental properties?

It is essential that you know what are the cost-effective ways to advertise rental properties. Knowing cost-effective ways to advertise rental properties comes in handy when you are on a budget, as per Zoe Harper from Steadily. Here are some economical ways to advertise rental properties:

Do An Open House

There is a misconception that open houses are only for big properties. But, even if your property is small, having an open house lets prospective tenants know what the property looks like from upfront. Plus, property owners and renters can meet face-to-face and see if it’s the best fit. Lastly- open houses create an atmosphere of competition, which makes people want your property more. The psychology is the same with buyers and renters- if buyers or renters are at an open house, and they see lots of others there, who seem to like the place and who seem interested in applying- the place will automatically become more desirable, and the prospective tenants will start thinking “hey I am going to miss out on this place if i don’t act fast” – then they might apply right there, without even looking elsewhere- because they are worried they may miss out. Human psychology always dictates that, when we have the option to buy something, and we see everyone else after it- we think it must be good and we pounce on it. But, if we see that nobody seems to want it, we assume it is bad, we assume that even if we thought it was good we must be wrong about what the price should be, and we can probably get it cheaper, or maybe wait for something better, etc.  This is just the way of the world.

Make Flyers

Another lucrative way to advertise your property is using flyers. Hand out flyers at grocery stores, malls, or other places. Make sure the design is unique and catches the eye instead of being too generic. Many people underestimate the effectiveness of flyers but they can be a great way to fill vacant properties.

How to create effective rental property listings?

It is important to create effective rental property listings. If you do not create effective rental property listings, you will not find good renters. For that, your description needs to be extremely compelling so that clients do not dismiss your adverts right away. Keep these things in mind:

• Give a compelling property title
• Post professional photos of your property
• Describe the neighborhood
• Describe the amenities that your property offers
• Describe the nearby convenient locations
• Have originality and do not make the description too cluttered

Adding these points to your listing makes sure to give renters an idea of how the rental experience will be. Once you have these few things down, you will realize that marketing properties effectively is a breeze. If you would like more information about advertising  rental properties, contact Big Town Real Estate.