Landlords inevitably have vacancies, and it’s these times that rental advertising is a top priority. However, marketing your properties to the appropriate population and actually securing new tenants can quickly consume time and energy.
To attract potential renters, you need compelling listings, widely-distributed widely distributed advertisements, and a credible business reputation. Each of these entails carefully planned writing and marketing.
Filling your vacant units may seem overwhelming, but tools like property management software make the process feasible.
If you’re ready to start accumulating applicants, follow these five steps for advertising and listing your rental properties.
1. Write Your Listing
Step one: you need a competitive property listing. If you want to be noticed by renters who are quickly scrolling through properties online, you need at minimum four components.
An attention-grabbing headline draws clicks on your listing. Headlines are short, but they carry almost all of a listing’s weight.
Here’s a formula for writing an inviting headline every time. Start with the price (as cost is the determining factor for most renters), then list beds and baths, type of building, and the neighborhood. Finally, end your headline by listing the property’s best feature.
According to the National Association of Realtors, 85% of renters or more make final housing decisions based on photos. This means you should take extra care that your photos are high-resolution and flattering. Some tips for photos include using natural light, emphasizing important rooms, and including floor plans.
In your description, you should include all the relevant details of your property. These may vary for each unit, but most listings feature amenities, specs, pet policy, location, and lease terms. Don’t forget to include your contact information so renters can get in touch.
Finally, dedicate some time to determining your price. Be sure to analyze comparable properties and do your market research before deciding whether your properties are fair and appropriate while still being competitive.
2. Share Your Listing
Now that you’ve written the perfect listing, it’s time to share it! Popular listing sites to note include Craigslist, Apartments.com, Zillow rental manager, Zumper, Airbnb, and HomeAway.
Some of these sites will include rental listing syndication services, but not all do. If you want to ensure that your listings have the farthest reach, use your property management software. Many property management software platforms have built-in listing syndication features which allow you to upload one listing and post it to multiple sites simultaneously.
3. Post on Social Media
You’ve covered the bases with listing sites. What’s next? One place you are sure to garner attention is social network sites. As most renters (especially younger ones) have at least one social media account, advertising your properties on major social networks can quickly attract applicants.
When advertising on social media, try to create engaging, location-based content. Pictures are essential no matter which platform you’re on, but keep in mind that social media sites like Facebook, Twitter, Instagram, and YouTube are each designed for different types of content. Be sure that your posts meet the conventions of the site you’re on.
4. Use Audience Targeting
Also known as passive screening, audience targeting is a marketing strategy for narrowing the target population of a product or service. For your purposes, audience targeting means advertising your properties toward the kind of tenants you would ideally like to rent your units.
There are two approaches to audience targeting. You can either start with key features of your properties and target the renters who most value them, or you can determine your ideal tenant first and then play up the features most appealing to them.
In either case, decide on your target population’s age, income level, and appropriate demographics. Remember that according to fair housing policies, demographics like race, gender, or disability status are not valid screening guidelines and could land you a fair housing lawsuit.
5. Update Your Company Website
With your listings out on the web generating interest, take a step back to ensure your own company website is up-to-date. Your website will probably get less traffic than a social networking site, but interested renters will ultimately land there.
Make sure potential renters viewing your website can learn about you and your business and contact you with questions. Your company website is also an excellent place to build credibility, develop your brand, and link all your listings and social media profiles.
Online Marketing for Rental Success
By perfecting and circulating your listings online, you are already one step ahead of competitors who haven’t. Welcoming photos and engaging descriptions are sure to capture the allure of your properties. With these tips for online marketing, you are certain to acquire new tenants in no time.