74.4% of rental properties are owned by individual investors, and not by companies or property rental agencies.
When it comes to being a property owner who operates in the rental space though there's nothing quite as important as your property marketing.
A landlord's success or failure is largely determined by his or her ability to effectively market and advertise their rental property. If no one finds your property or decides to move in, you won't be making a great investment.
Here are a few quick marketing tips to help you stand out from the crowd, promote your rental, and find quality tenants.
1. Advertise on Rental Sites
No matter how good the ad is, if no one can find it, there's no point. Getting your listing in front of as many people as possible who might be looking for a place to rent in Salt Lake City UT is vital.
You need to make sure that your rental unit is listed on the most popular rental listings websites in order to attract tenants. Alternatively, you can syndicate your rental listing to more than a dozen of the most popular rental sites on the market by using special software specifically for landlords.
2. Use Social Media
Social media marketing is used by businesses with no limit to the industry they operate in so there is no reason why landlords should not be using it to market their property.
Social media is the perfect place for you to show off the perfection of your property through images and video content. You can create a page and amass a following or use the Facebook marketplace to advertise your rental.
3. Go Old School With Signage
There's no doubt that old-school real estate boards that say for sale or for rent still work. If your rental in Salt Lake City UT is in a high foot or vehicle traffic area, then well-designed, eye-catching signage could get you the leads that you're looking for.
Consider designing signs that help highlight your rental to those passing by and having professional boards made and put up.
4. Work on Your Wording
Imagine being a tenant and searching for your perfect property, you would scour listing upon listing and always read the same tiresome words. "Great location!", "Communal swimming pool!"
Instead of just describing your property, which obviously we know you have to, why not tell potential tenants how the property feels? Consider selling the story of the property as opposed to the double-glazed windows.
Property Marketing With Perfection
There is no complete way for a landlord to go about property marketing. Much of the efforts you perform will be trial and error and you'll slowly figure out what works for you and what doesn't.
It is through this trial and error that you will be able to build the perfect marketing plan for your property.
If you're feeling overwhelmed with all this, it might be time for you to figure out if you need to hire a property manager, find out here!