Are you starting a property marketing strategy from scratch?
First, step into the shoes of a prospective renter. What's the first step you would take?
You would likely go online to find properties for rent. Choose a rental listing site and browse through your options. What properties stand out to you and why?
Next, look at the listings of properties that were recently rented out. What qualities stand out about these rental units?
Pricing strategy, real estate photos, amenities, and location are just a few factors that come to mind.
Discover more marketing ideas for landlords.
1. Market to Your Ideal Tenant With Property Marketing
Earlier, you stepped into the shoes of a prospective tenant. Expound on this concept by creating an ideal tenant profile. Include a list of data points in this profile to flesh out your ideal tenant.
Points include:
- Annual income
- Occupation
- A clean criminal background check
- Past rental history
- Rent payment history
- Long-term living goals
You will need an application process that allows prospective renters to fill out all necessary information. At this stage, you should hire a property manager if you haven't done so already. They can distribute and process applications, ensuring those that match your "ideal tenant" profile are at the top of the pile.
2. Reaching Your Ideal Tenant With Real Estate Marketing
Your ideal tenant won't apply if they don't know your property exists. You need a combination of techniques to boost property visibility.
Along with creating a tenant profile, you need to conduct market research to see what your target base wants in a rental unit. You would then stage your home and add any necessary upgrades to meet those demands. This part also speaks to the importance of purchasing rental properties in desirable locations for your ideal tenant.
A property manager can inspect your property for any needed repairs, upgrades, or replacements. You would likely need a fresh coat of paint for the interior, including new flooring, windows, and kitchen appliances. Check to see if the HVAC system needs an update or if any electrical rewiring is required.
Your interior must look presentable for real estate photos, but your front and backyard landscaping must also be on point.
Invest in the following services if required:
- Dead tree removal
- Local landscaping
- Pool installation
- Porch redesign
- Driveway repair
A property manager will hire a photographer who will take stunning photos of the property. These photos must stand out in real estate listings. Next to pricing, photos compel prospective renters to click and inquire.
3. Property Listing Tips
Property managers are skilled in writing rental listing copy that inspires interest in ideal tenants.
It's important to make your expectations clear as a landlord while also showcasing a safe, clean, and appealing space for leads.
Highlight amenities most important to your demographic, like available parking, on-site laundry, or proximity to stores and public transportation.
Create a Rental Property Promotion Plan
These three tips are a strong start to any property marketing strategy. Talk to your property manager about your goals so that you can get more bang for your buck.
Dickson Realty wants to help you every step of the way. We're a family-owned business. We've been in operation for 25 years and counting, specializing in everything from real estate sales to property management.
Book an appointment to get to know us better and learn more about your options.
