There are now over 20 million rental properties in the US, but if your rental listing doesn't stand out, the property could sit vacant for months. You'll start losing money if you don't develop a property marketing strategy. Instead of losing renters, use these tips to gain visibility in a saturated rental market.
Choosing the "for rent by owner" route can feel daunting if you're not attracting applicants. Use these tips to attract long-term tenants you can trust today!
Create an Eye-Catching Rental Listing
A lackluster, outdated rental listing won't attract anyone to the property. Start by researching other San Diego rental properties. Make a note of the details that help each listing stand out.
For example, you may notice:
- A compelling header
- A detailed description
- Information about local venues
- Amenities
- Special features
- Utilities
Consider offering amenities like state-of-the-art appliances or off-street parking. Choose offerings to gain a competitive edge in the industry.
Before you start receiving applications, clean and tidy up the property to prepare for showings. Consider creating a virtual tour. Potential renters can explore the property before scheduling a tour in person.
You'll attract applicants who have a serious interest in the property. This strategy can help you save time on in-person tours.
Invest in Property Photography
Hire a professional photographer before updating your rental listing. Professional photos will help the listing stand out. You can use the video footage and photos you gather for other property marketing strategies.
Attract Long-Term Tenants
Develop an applicant screening process before choosing renters. Screening applicants will ensure you attract long-term tenants you can trust. Retaining tenants will boost your ROI and occupancy rates.
Review each applicant's credit score, criminal background, and rental history. Make sure they're not behind on rent (five million households already are).
Leverage Social Media Marketing
Social media marketing can help your rental listing stand out in a saturated rental market. Start sharing photos and videos of your rental properties. Use relevant, location-specific hashtags to appear in front of ideal renters.
As people comment on your posts, respond! Answer their questions to encourage them to learn more about the property.
Hire a Property Manager
Hire a property management company. They can take care of your investment properties and provide renters with better living experiences. For example, your property managers can gather competitive bids from local vendors for maintenance projects.
Completing maintenance projects on time will ensure you're providing renters with great places to live. It can help you avoid more costly repairs in the future.
Choose a property management company that offers property marketing services. Their professional strategies can help you avoid long vacancy periods.
For Rent by Owner: Attract Great Tenants Today
Choosing the for rent by owner route can become stressful, especially if you're struggling to find renters. Use these tips to attract long-term tenants. Increasing your retention rate will boost your ROI!
You don't have to develop your property marketing strategy alone. Consider hiring an experienced property management company instead.
You can depend on Income Property Advisors and our extensive experience in San Diego property management. We can stabilize your tenant occupancy rate and help you achieve superlative returns.
We customize our services to help you accomplish your real estate investing goals. Contact us today to start attracting new tenants!
