Reaching out to prospective tenants is essential if you are looking to rent out your property. To have your vacancy catch the attention of quality renters, you will need to put on your marketing hat and sell them on it. Investing the time to adequately promote your unit will bring in a bigger pool of candidates and increase your chances of finding the right fit for your property.
Create a compelling listing
First things first: research the real estate market to make sure your property is priced right. Once you’ve settled on a good value-profit equation, you can move on to advertising. An appealing listing starts with an eye-catching headline that highlights specifics about the rental, like location, number of bedrooms and bathrooms, and type of views. You should also include an honest, detailed description of your property with a full list of its features and amenities, backed up by a visual tour of the rental so that prospective tenants can get a better feel for their future home. Images can make or break a first impression, so consider hiring a professional photographer for better quality photos.
Advertise on Rental Websites
You want to concentrate your efforts on high-traffic sites such as Craigslist, Trulia, Rentals.com, Apartments.com, Zillow and Hotpads, which allow for you to post free rental listings, while prospective tenants can narrow their search criteria based on specific features on multiple devices, including computers, smartphone, and tablets.
Promote on Social Media
Social media allows you to make photos, videos, updates, and information about your rental accessible to millions of people. You can use your Facebook page, Instagram, and Twitter accounts to promote your property or create new ones that are specific to your listings.
Create your own website
Whether you have one or multiple rental properties, creating a website for your rentals conveys a sense of professionalism to prospective tenants. Be sure to reference your website URL in your other advertising platforms.
Market on Print Media
Placing an ad on your local newspaper, local free-press publications, and community newsletters can increase your exposure. Older generations still rely on those types of publications and some of them might also feature online classifieds.
Take Advantage of Local Bulletin Boards
Consider putting up flyers with tear-offs of your contact information at the bottom on post boards at local universities, grocery stores, churches, laundromats, and bus stops.
Use Your Social Network
Word of mouth can bring in good candidates, so let your acquaintances, friends, neighbors, and co-workers know of your vacancy. Consider offering a referral fee to give a greater incentive.
Hire a Licensed Realtor
Calling in a professional might be the most costly method of marketing your property because realtors normally charge the equivalent of a one month’s rent as a commission. But hiring an agent can save you a lot of time as they handle the advertisement, inquiries, showings, screenings and the signing of the lease.