Real estate investing is a great way to generate passive income, but not if your properties sit vacant for too long. Marketing your rental properties is easier said than done, and if done incorrectly, you can end up losing a lot of money.
If you are looking to have a fully booked rental, and a waitlist, it might be time to update your marketing. Here are some easy tips on marketing your rental property.
3 Tips to Marketing Your Rental Properties
Upgrading Your Rental
Tenants want the best rentals for the money. If you have a rental that is sitting empty or doesn’t quite compete with the other rentals, it is time to upgrade.
Upgrading your rental is easier than you think. Small updates can go a long way, and sell the value of your rental to potential tenants.
Painting is a great way to freshen up your rental. White and gray paints are trendy for just about any room, and pairing it with bright white bulbs will spruce up any rental.
Real estate investors using hard money loans in Phoenix, always suggest updating a kitchen. This can be as easy as replacing cabinet hardware, a fresh coat of paint for walls and cupboards, and replacing your countertop. It may be worth updating appliances to have a sleeker, more modern feel.
Some other great features to consider offering to your rental are free or easy parking solutions, gym memberships, coworking spaces, parks, or events to meet other tenants.
The more updates you make to the rental the more appealing it will be to tenants. Once you are done upgrading your rental, you can make a killer listing.
Hack Your Listing
A great listing comes down to these key elements: good copywriting, great photographs, and attention to detail.
Once you have a beautiful listing, staging and photographing your rental is a must. Most tenants will find your listing online and will want to see photos. Staging your listing will make it seem more attractive to potential tenants, and give them an idea of just how your space could be laid out. When you go to stage your listing, clean, clear, and bright photographs are a must! You should make sure to have a dining area, bed, and living area to stage your photographs.
Hard Money lenders in Arizona suggest having at least 10 photographs of your rental. This will help tenants envision your complete space. Photograph every room, and feature of your rental, so tenants can know exactly what they are getting.
Once you Photograph your rental, having good copywriting is key. Make sure you include location, price, and all the new features that make your listing special. Do a quick search online and see what other rental are including, so you can make sure you hit all the basics.
Make sure that your listing is as detailed as possible. This will make sure that potential clients know everything that is included in your post.
Marketing Your Listing
Once You have the perfect rental and listing in mind, marketing your rental is easy.
Marketing your listing is quite easy once you have the right photographs, and copy in place. Make sure all your listings are as detailed as possible and include the locations of popular business hubs, restaurants and their distance to them.
You should also make sure to place your rental on popular listing sites, such as Zillow and of course, Apartments.com.
When you post on Facebook and the listing sites having a great copy that wonderfully describes your property. You can also make social posts for your rental on Facebook marketplace, Instagram and more!
You can reach out to business by your rentals, and ask to place flyers in. Coffee shops, bakeries, laundromats, grocery stores, and daycares are all great places to market your rental.
Following these tips, you should be able to find a tenant for your listing in no time.
About the Author:
Catherine Way graduated from Michigan State University with her Bachelor of Advertising, with a specialization in Graphic Design. She is a content marketer for business, mortgage, and real estate industries. She currently writes and reports for Prime Plus Mortgages – Hard Money Lenders Phoenix.