Dealing with low occupancy and high turnover on your rental units is always a hassle. You probably have done almost everything to market your rental property but still not getting the desired results. The most plausible explanation is inefficient marketing and to make matter clear, No!, placing a â€śFor Rentâ€ť sign just wonâ€™t do it.
Hereâ€™s what you need to do,
1- Recognize Your Target Audience
Understanding your targeted audience is the fundamental element in marketing your rental property. You need to have a thorough knowledge of your neighborhood, including its value in the market, its selling points, and how to leverage those points to your advantage. Once you have known all the specifics of your real estate, you would be able to rent out your property in no time.
2- List Your Property on the Internet
Internet and social media play a significant part in the lives of everyone nowadays. So, you have to create a social media account (if you donâ€™t have one), such as Instagram and Pinterest, for displaying your property to the prospective tenants.
Furthermore, you need to put ads on classifieds websites such as Craigslist to reach a wider audience.
3- Word of Mouth
Spreading word of mouth is a conventional yet essential tool of marketing your rental property. You can ask your existing customers to write testimonials and recommendations about your property. The other way is to make your renters happy, which will eventually bring new renters for your property.
4- Ignite interest
While your prime focus may probably be on renting properties, but you should also proactively make plans for tomorrow. You need to make an email list of your prospective renters and create an enticing community content to make them aware of amazing parts of the neighborhood. Also, inform them about the available properties.
5- Become an Active Member of the Community
When you have to market multiple properties, you have to really connect with everyone in the community. You can sponsor a charity event or hold a festival where you can hand out brochures to market your properties. You have to become an active member of the local community as it will create an integrity of your brand, and the locals will find you a reliable source for rental properties and refer their friends and family to contact you.
6- Market the Community
Everyone has their own unique values; therefore, instead of just a property, you need to market the entire neighborhood. There are various aspects of the community, depending on the demographics. For instance, for families, it could include top-tier schools and colleges and daycare services, family parks and outdoor activities, and of course, safe neighborhoods. For senior citizens, it should consist of recreational facilities, walking trails, and libraries. When you have to market the rental property, you have to focus on marketing the community as a whole rather than just a building or apartment. The prospective renters always consider the property with the neighborhood.
PMI Marietta is a top-tier Property Management and Real Estate Brokerage company, providing its exceptional services in the cities of Marietta, Kennesaw, Smyrna, Roswell, and all the surrounding areas.
Get in touch with our expert advisors and learn how you could make your investments profitable.