When you have a new investment property, it is supposed to bring you money and pay off the investment. The best way to get your returns is to rent it out—it’s a great long-term investment strategy. Surely you’ve put a lot of time and money into buying and remodeling your rental, so you have to find the right tenants who will make it all worth the effort.
Unfortunately, finding quality and well-paying tenants is not easy. The key is to use marketing strategies and connect your property with the right people. Do you know how to do that? Do you know where to post your listings and how to attract renters? If you’re a new landlord, you’ll love this little guide that will help you get the most out of your rental listing.
Identify your target audience
Many new landlords get carried away and post their listings everywhere. But before you do that, ask yourself: “What is the audience I’m targeting?” When you know the target audience for your rental, it will be much easier to reach the right people with your marketing strategies. Who is moving into the neighborhood and who is moving away? What attracts people to the neighborhood? These are all important questions that will quickly tell you where to focus your marketing efforts. When you match the target audience with your listing, it will be like love at first sight where everyone wins—you’ll get perfect tenants and they will get a perfect home.
Use free websites
Most of the best ways to promote your rental are free. The most common websites for marketing real estate are Hotpads, Craigslist, Zillow and Oodle, but also many more, with new ones popping up every year. With so many places where people can browse apartments, it can’t hurt to post your listing in several spots. When you get interested parties, ask them how they came to your rental. This will allow you to track the best ways to advertise, which platforms need more attention and which methods to drop.
Use social media
One of the best things that can happen for your listing is for it to go viral on Facebook or Instagram. When used correctly, advertising on social media can pay off quickly. Besides paid advertising, you can also ask your friends to share and design ads to distribute to designated markets.
Invest in good photos
Like all people, online shoppers love to judge a book by its cover, so make sure to leave a good first impression on buyers by dazzling them with professional photos. If you look at the Rent.com website and check out Lubbock apartments for rent, you’ll be greeted with gorgeous, bright and strategic photos that represent their beautiful properties in an even better light. No matter how attractive your property is, if you don’t provide good photos, your listing will be overlooked. So do what Texans from Lubbock do and get HD, professional photos.
Add video to your listing
In addition to your photos, it can also be useful for buyers if you added videos. This feature will make your listing more appealing and save you a lot of time and effort on show. A short, but well-made walkthrough posted on YouTube or Instagram will help your listing gain more traction, especially on social media where people love visual content.
Advertise your features
The market needs to know all about the special features of your property. For instance, if you have a pool in your rental or features like a private backyard, updated appliances, energy-efficient fixtures, etc. make sure to include them in your listing. When the potential buyer comes across two similar listings, your amenities might rock them successfully to your side.
Lift up your curb appeal
Looking at properties online is popular today, but there’s nothing better than a good drive-by to solidify the first impressions. In that case, make sure to invest in yard maintenance and ensure your curb appeal impresses renters. An impressive curb appeal will spark interest and attract renters inside.
Offer something special
The rental market is tight and complicated, so make sure to stand out from the crowd. The best way to do so is to provide a deal that will catch peoples’ eye. For instance, you can include things like move-in specials, rent discounts or waived fees—these will definitely attract potential tenants.
When you manage to find the perfect tenants, you can move on to the next investment property and grow your lucrative business. This career choice pays off in more ways than one and your job will not let you down, especially if you fill your properties with the right people.