When marketing a home for rent you want your home to stand out from the crowd and to attract the right amount of activity in order to get the home rented quickly.
- Use of Online Resources
As a landlord, your biggest platform and audience is on the internet. There has never been a more direct approach for Landlord and Tenants to find one another than the internet. There are many sites that are dedicated to listing rentals nationally and others that are more regional.
Referrals today whether from existing clients, Tenants, friends, family, or associations are still one of the most successful ways of generating opportunities. Don’t be afraid to offer an incentive when state law allows you to do so.
- Unique Offers and Incentives
Sometimes offering a unique bonus such as a free TV, ½ off first month’s rent, a gift card, or upgrade are all great ways to differentiate yourself in the marketplace. Don’t be afraid to spend a little money to move a home quickly.
- Is the Home Rent Ready?
Having the home in rent ready condition is key. Is the home clean, clutter free, have great curb appeal, and inviting to potential new Tenants? Tenants are looking at many homes and simple things like broken blinds, loose handles, and/or dirty or worn out appliances make a big impact.
- Present the Amenities of the Home
Does the home have ceiling fans, updated appliances, granite, a fenced backyard, washer/dryer, finished basement, etc. Understanding the amenities of a home helps set your home apart from others in the area.
- Be Known for Quality
Be sure you have a reputation of providing a quality home, providing exceptional service, and maintaining both the maintenance and relationships that are needed with the home. No one wants to have to work with a Landlord that doesn’t respond or maintain the property properly or is hard to deal with when there are general questions, concerns, etc.
- Signs Matter
A professional yard sign still attracts Tenants today. In fact, research shows that behind internet marketing that yard signs are the second largest driver of renting homes. Many times, signs will attract referrals from neighbors, and other residents that may have not known the property was available.
Having great quality pictures help attract quality Tenants. Using a wide-angle lens, proper lighting, getting the right angles to show the flow of the home and each room is important.
Tips 1-7 tell the story of your home and why someone would like to rent. Step 8 with the pictures shows a prospective Tenant what they will be renting. Finally, with step 9 with video the potential resident can validate with a virtual walk through of the property that it is the right fit for them. Videos today are easy to produce, upload, and to present to potential renters who are looking for a reason to choose your home vs. another.
Tip 9.5 Use a Professional
Using a professional Property Manager not only reduces your time but also allows you the opportunity to reach a broader audience of Realtors, Relocation Experts, referrals, 50+ websites, refined listings with pictures, and videos all creating a larger audience of qualified applicants.
Daniel Madison is the Property Manager and Owner of 4M Property Management which exclusively manages rental property for individual investors and Owners in Upstate SC.