Rental property advertising and marketing is one of the best ways to reach ideal tenants, reduce vacancy time, and earn the most return on a rental investment. It’s one thing to invest in a piece of property and it’s another to have the right tenant occupy it.
In order to general passive income, you need to have reliable tenants staying in your rentals. The best way to find these tenants is by having a property marketing plan in place. Rollingwood Management Inc. looks into the top ideas to implement when advertising your Austin rental property.
Importance of Effective Rental Property Advertisement
There are several reasons to implement a solid marketing campaign:
Attract Ideal Tenants
As a rental property investor, you do not want to have an unqualified tenant on your property. This is someone who will not pay rent on time, causes an issue with neighbors, and potentially causes harm to the property. Ideal tenants are found only through accurate advertising and marketing.
Investor needs to identify the best media to reach their ideal tenant and use the most effective language to connect with them. The type of marketing you perform will depend on your target tenant demographics.
For instance, if you want to reach younger tenants, social media and online listings work best. Local renters on the other hand may rely on word-of-mouth recommendations or local flyers and for rent signs.
Reduce Vacancy Time
A property only generates income by being occupied by a paying tenant. The sooner you start the marketing process, the less time your property will stay vacant. So take swift action when you receive notice from a tenant.
When a vacancy comes up, correct advertising and marketing will ensure that it’s promptly filled and rental income is sustained. With the pool of interested tenants created from marketing, the perfect tenant can then be onboarded into the property.
Minimize Investor Financial Loss
Investors lose money in cases where their property is not occupied and they have to carry out maintenance routines and pay bills. This financial loss can be avoided by efficiently advertising the property and with that getting the ideal tenant.
Tip 1: Take Good Quality Photos
Online presence is very important for every individual, business, and company. For rental property owners, setting up a solid online presence will ensure that they reach the ideal tenant. Professional photography and videos of the property are great marketing tools.
It’s critical for investors to implement new techniques such as virtual tours to be displayed on various online channels. These include company websites, social media platforms, and listing sites. Listings that provide visuals receive more responses and attract more tenants than those that don’t.
Invest in Equipment
Invest time and resources in taking photos and videos for marketing and ad placement. Source the right equipment such as quality cameras, lighting kits, and tripods, or hire a professional photographer to carry out the project.
Photography Staging and Preparation
When undertaking these projects, ensure that the property is in excellent shape and ready for marketing. Clean the spaces, put away any personal items, have the lights on, and stage the unit.
The goal is to showcase an appealing space that potential tenants can envision themselves living in long-term .
Photography Lighting
Lighting makes a big difference in the quality of photos and videos delivered in your advertisement or marketing project. It’s ideal to take photos and videos during the day when the natural light can flow into the space. If it’s not possible to shoot during the day, ensure that the lights are on and areas are well-lit with minimal shadows.
Photography Angles
Explore the best angles that showcase the property. The goal of this is to capture natural and appealing shots that give viewers the best possible look at the property.
Photography Shot List
A shot list will ensure your project captures all the rooms to be showcased to potential tenants. This will include all the bedrooms, bathrooms, kitchen and appliances, living area, outdoor areas, dining spaces, and any other special amenities .
Tip 2: Write Great Copy
Write a great copy that will describe the property to the potential tenants. To develop great copy, capitalize on these two sections for advertisement purposes:
The Headline
The headline is what will determine if a prospect will be captivated enough to keep reading and actually see the rest of your advertisement. When writing the heading for a rental property ad, consider the following formula:
Rent Price + Number of Bedrooms + Number of Bathrooms + Property Type + Location + Great Selling Point
These are the most relevant pieces of information potential renters would want to know more about in your advertisement.
The Description/Summary
After the headline comes the summary that will give more details on what has been introduced in the headline. Connect it to the photos and videos as well. Hone in on amenities, unique features, and valuable information such as a map showcasing the property’s location.
Give important details and communicate in a language that will be in line with the target tenant demographic. Transparency and detailed information will do better in selling the property.
Tip 3: Distribute Your Ad
Once all the pieces are put together, distribute your ad to all the relevant platforms where your potential tenants will access the information. Utilize property listing websites, print media, and social media platforms that will reach potential tenants. It’s also important to make use of traditional media like “for rent” signs and place flyers on local bulletin boards.
Bottom Line
Rental property owners in Austin, Texas can implement these strategies in marketing their properties to the right people. As an investor, these might be challenging steps especially if you lack the time.
As a seasoned property management firm , we at Rollingwood Management Inc. will not only market your property accurately, but also cover all of your other property management needs such as tenant screening, maintenance and repairs, and preparing detailed financial reports. Reach us today to get started!