Vacancies don’t fill themselves, and that means as a landlord, effectively advertising your rental property is key! If this is an aspect of being a landlord that you struggle with, we can help! Check out these tips and advice for marketing your rental property:
Key Tips to Effectively Advertise Your Chester County Rental Property
Timing is Key: Timing is essential. Never wait until a unit is sitting vacant to start marketing it. Start marketing when you get the notice of non-renewal from your tenants. If your lease clause states 60 days (which is standard), you now have the right to start marketing the unit as vacant post-notice. However, for showings, the tenant will still need to provide permission to enter.
Multi-Channel Marketing: Marketing across multiple platforms is vital to get the word spread about your rental property. This means, consider a mix of signage, digital marketing platforms, referrals, community forums, and any other method you might find to be useful in your area.
Visual Appeal: Keep the copy short and to the point. In addition to text, you should have vivid imagery or video content to go along with it. The average attention span is about four seconds, so catching someone’s attention as they quickly scroll is so essential.
Digital Marketing: Always include some digital marketing strategies in your marketing plan. This can consist of Google Ads, and Social Media paid ads as well as organic digital tactics. Organic marketing includes a well-written and optimized website, active social media accounts, and blogging. If you aren’t well-versed in digital marketing, it may be useful to hire some help and maximize search engine rankings for your properties.
Online Listing Sites: This takes some time but is necessary for both optimization and the best chance to catch as many people as possible. List your property on all listing sites included but not limited to; Trulia, Zillow, Zumper, Hot Pads, and Rent.com.
Budgeting: Have a marketing budget, stick to the budget, and spend it wisely. Whether the budget is high or low, investing in social media ads is always a good option as you only pay for clicks, and they get a lot of impressions. For marketing, you need a budget, and it shouldn’t be $0. The more you advertise, the higher chance of renting.
Respond to Leads: Always respond to potential leads, questions, or comments within a timely fashion. During the workday, try to respond within a couple of hours. If after hours, be sure to answer the next day. Don’t ignore leads or questions on weekends. This industry is not standard business hours, and you need to be available (or have staff available). The quicker the response time, the better you look to a prospect.
Words to Avoid in Your Rental Property Ads
There are some words to avoid when marketing your rental property. Avoid specific phrasing (discussed below), have a budget, and spend it and be quick to respond to leads. There are words to avoid when marketing a rental property. Using the verbiage can cheapen your brand, make the property look less appealing, etc. These words/phrase include:
- Quality – Quality is highly subjective and should not be used as an adjective in your marketing.
- Clean – Prospective tenants expect that any rental unit is clean! Specifying it is clean makes it sound like perhaps it wasn’t before.
- Needs Work or Needs Repair – A well-run property should have repairs done before renting, renters will be turned off by seeing these phrases in an ad.
- Cheap – No one wants cheap! Plain and simple. Use affordable as opposed to cheap if you need to market low prices.
- Abbreviations: There are a lot of abbreviations and acronyms in the property management world, but most tenants won’t know those. Spell things out and be transparent.
- Fair Housing Violations: Avoid using any terms that could be considered discriminatory or words that could potentially violate Fair Housing laws.
Hire Help to Effectively Advertise Your Rental Property
Still uneasy or unsure about marketing your properties? That is common! Most landlords have a real estate background, not a marketing background. Do your research and consider either a marketing agency, freelance worker, or property management company to assist you. Each of these options has pros and cons. Learn more below.
- Marketing Agency – A marketing agency is great because they know what they are doing to get the most conversions. Marketing agencies also generally have staff to help you with every aspect of marketing from copywriting to web design graphic design and everything in between. The downfall of choosing an agency is the team may not be well versed in the industry, and also agencies can tend to be a pricier option.
- Freelance Marketer – If the job(s) you have are small, consider hiring a freelance marketing specialist for help. This will be your most affordable option, and if you screen for the write freelancer, you can find one that is well versed in the industry and many aspects of marketing.
- Property Management Company – A property management company is a good idea for a new or inexperienced landlord or even just a landlord that is in over their head. A property management company will know the industry best and have marketing professionals dedicated to getting your listing marketed, and unit rented quickly. Also, hiring an agency opens you up to help in so many other aspects of the management world, including; finances and budgeting, leasing, collecting rent, and evictions.
Contact the experts at Bay Property Management Group Chester County and let our experts effectively advertise your rental property. Our team offers aggressive marketing strategies to increase leads and minimize vacancy, thereby maximizing profits and ROI.