There’s no right or wrong way to market your rental property, but there are some tips you can follow to increase your likelihood of finding a great tenant quickly. 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 shown in the best possible light. Professional photographers know how to capture the right angles and use lighting effectively to make every room look spacious and inviting.
Include a variety of photos, such as wide-angle shots of each room, close-ups of key features, and exterior shots of the hotel and its surroundings. Well-composed photos not only attract more views, they also set the right expectations for potential tenants, reducing the likelihood of disappointment during an in-person showing.
Here are some additional tips:
- The exterior shots are the most important: The first photo should always be an outside shot, preferably taken half an hour before or after sunset or early in the morning. Taking twilight photos using outside lights can create stunning effects. This photo should attract potential tenants.
- Keep photos straight: Use a tripod and a wide-angle lens (approximately 28 mm) on a good DSLR camera. Avoid smartphone lenses as they are not wide enough to accommodate smaller spaces. Straightforward, well-composed photos are more likely to capture people’s interest.
- No flash: Natural light maintains the hotel’s ambience. Flash can overexpose photos, make the property look less appealing, and highlight defects.
- Think carefully about which photos you want to show: Online real estate hunters spend 60% of their time looking at photos. Avoid taking blurry or out-of-focus photos. If necessary, hire a professional to ensure your photos convey care and professionalism.
2. Write a detailed list
A detailed inventory gives potential tenants all the information they need to decide if your property is right for them. Start with a catchy headline that includes basic details like rental price, number of bedrooms, and unique features. This is followed by 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, pet policy, and nearby amenities.
A well-written listing can help 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 more insights.
3. Leverage online advertising
Online advertising can significantly increase the visibility of your rental property. List your property on popular rental websites and social media platforms. Potential renters often visit sites such as Zillow, Craigslist and Apartments.com to find their next home.
Leverage social media, post in local groups and use targeted ads to reach specific people. Online advertising allows you to reach a larger audience quickly and generate more inquiries. Make sure your online listings are always up to date and respond to inquiries promptly to maintain interest.
4. Know your demographics
Understanding your target customer base can help tailor your marketing efforts to attract the right tenants. Consider factors such as the age, lifestyle and needs of the tenants you want to attract. For example, if you’re targeting young professionals, emphasize proximity to public transportation, trendy restaurants, and coworking spaces.
To attract families, emphasize good schools, parks and safe neighborhoods. Tailoring your marketing messages to attract your ideal tenants can increase your chances of attracting tenants who appreciate and care for your property, thereby extending lease terms and reducing vacancy rates.
5. Place a custom sign in your yard
Customized signs in your yard can attract local interest and drive-by traffic. Make sure the signage is professional and easy to read, and contains basic information such as rental price, number of bedrooms and contact number. A visually appealing sign can grab the attention of potential tenants who are already looking for rental properties in the area.
Including a QR code linking to your online listing makes it easy for interested parties to instantly access more information.
This simple, cost-effective strategy can attract quality tenants who may prefer the community and seek properties nearby.
6. Provide incentives
Offering incentives can make your rental property more attractive. Consider incentives such as a reduced first month’s rent, a free month’s rent after a six-month lease, or including utilities in the rent. Incentives can motivate potential tenants to choose your property over others.
Additionally, offering small perks such as professional cleaning before move-in or flexible lease terms can be attractive. These incentives can help fill vacancies faster, making tenants feel valued and appreciated, thereby extending leases and improving landlord-tenant relationships.
7. Arrange a time for viewings
Arranging a showing of your property, whether one-on-one or through an open house, is a critical step in attracting potential tenants. One-on-one showings can provide a more personal experience, giving potential tenants the opportunity to ask specific questions and explore the property at their own pace. Open houses, on the other hand, can bring in multiple potential tenants at the same time, creating a sense of urgency and competition. Promote your showings through online listings, social media and local community boards. Before any showings, make sure the property is clean, well-lit, and staged to highlight its best features.
Provide a brochure or leaflet with detailed information about the property and the application process. Being able to answer questions and provide tours can help potential tenants feel more informed and confident about renting your property. Effective property presentations can increase interest, more applications, and a faster leasing process.
8. Network, network, network
The Internet can open doors to potential tenants and referrals. Connect with local real estate agents, property managers, and community organizations (BiggerPockets Community is a great place to start). Attend local events and join a landlord association to expand your network. Word-of-mouth recommendations can be a powerful tool in finding reliable tenants.
Encourage existing tenants to refer friends or family members by offering referral incentives. Engaging with the local community and building a network of contacts can provide a steady stream of potential tenants and valuable insights into the rental market. The Internet can enhance your real estate marketing efforts by helping you stay informed and connected.
final thoughts
These eight tips will help you market your rental property to the right tenants. As you implement this guide, take note of what works, what doesn’t, and what changes you can make to be more efficient.
Save time and money with this refreshing guide to managing your own property.
exist self-managed landlordAmelia McGee and Grace Gudenkauf share tips for efficient property management, tenant screening and onboarding, and scaling your business, all to help you escape the 9-to-5 drudgery and create lasting wealth through real estate.
Notes on BiggerPockets: These are the opinions written by the author and do not necessarily represent the views of BiggerPockets.
