Is your beautiful investment property currently sitting vacant? The rental vacancy rate in the US is already over 6%. Your property could remain vacant if you don't develop a property marketing plan.
Here are five effective marketing strategies you can use to attract tenants to your online listing. With these tips, your property will stand out. Start generating more applications today.
1. Upgrade the Technology
You won't attract people to your rental property if it's old and outdated. Invest in a few upgrades to make the property more attractive. For example:
- High-speed internet
- New dishwashers
- In-house washers and dryers
- Virtual assistance (Alexa, Google, etc.)
- Programmable thermostats
- Programmable lighting
These updates can help your property stand out from other rentals in the area. You'll give your online listing a competitive edge.
Before updating your online listing, complete a few aesthetic upgrades. Improve the curb appeal to make sure the property makes a strong first impression on and offline.
You can compensate for these upgrades by increasing your rental rates. Use property marketing tools to complete a rental analysis first. You can ask your property management company for help.
2. Enhance Rental Descriptions
Most renters skim past cookie-cutter rental descriptions. Write a thorough, detailed description to stand out online. Your online listing should include:
- The rental rate
- Additional fees
- Lease duration
- Recent upgrades
- Special features/amenities
- Important policies
- Pet restrictions
When writing your description, imagine the life your renters can enjoy if they choose your property. Mention nearby venues, restaurants, and attractions. Appeal to the renter's needs and interests.
A detailed description should evoke an emotional response. Triggering emotions can make your listing more memorable. If updating your listing feels stressful, hire a property management service.
3. Share Virtual Tours
After updating the property, hire a professional photographer. Their services will ensure you share high-quality attractive property photos. Make sure they take photos from all angles of the property.
Choose a photographer who can create virtual tours. Renters can explore the property from the comfort of their own homes.
You won't have to waste time on people who only want a cursory glance at the listing. Instead, you can determine which renters have a serious interest in the property.
4. Request Tenant Referrals
Your existing renters can help you find new ones. Before your next open house, ask if they can provide tenant referrals.
Reward your renters for the people they send your way. An incentive could encourage them to take action.
5. Leverage Social Media Marketing
Share stunning images of your rental property using social media. Add location-specific hashtags to the caption to reach local renters. Encourage social sharing to expand your reach to new audiences.
Use social media to direct more people to your property website. Add a strong call to action to the caption and encourage them to reach out!
Update Your Property Marketing Strategy
A thorough property marketing strategy will help your online listing stand out from other rentals. Use these five effective tips to direct people to your East Brunswick properties. Otherwise, consider working with a property management company.
CMS Property Management provides exceptional management services across New Jersey. We're committed to ensuring every property is managed with the utmost care.
We can eliminate the stress of property ownership. Contact us now for help with your marketing strategy.