The real estate market is hot right now with prices soaring and homes selling quickly. For many Americans, that means stepping back from the buying process and focusing on renting for the next few years, until things stabilize.
So, if you own a rental property, there's never been a better time to focus more on rental property marketing efforts. However, it can be overwhelming knowing how to begin.
We can help.
Keep reading to learn how to advertise your rental property by using these key real estate marketing tips. As a result, you'll find a renter in no time.
Make Sure It's Ready
In Salt Lake City, in particular, the rental market is booming. Before you start to advertise your rental, you need to make sure it can stand up to the competition in the area.
Make sure it's ready for showings by having it cleaned and touched up as needed. Once it looks great, take the time to take professional, well-lit photos to help it appeal to more people. By taking these steps upfront, you'll be able to get it rented out faster.
Take Advantage of Social Media
Once your property is ready, use those high-quality photos to advertise it on social media platforms like Facebook and Instagram. These sites make it easy for people to organically share content with their friends and followers, so that word can spread about your rental.
You can also use targeted Facebook Ads to help you reach specific target markets and demographics so your posts are in front of the right eyes.
Advertise More Than Just Your Property
Yes, people are looking for a rental home, but they're also looking for more than that. Appeal to a renter's personal side by highlighting other amenities like safe neighborhoods, community events, good school districts, and the other aspects of Salt Lake City that people love.
You want potential tenants to be able to imagine themselves living in your property, so make it easier for them to do so.
Once a prospective renter finds a property they love, they'll want to move quickly on the process. This means that you need to be able to respond quickly to requests. If you don't reply within 24 to 48 hours, you can expect potential tenants to move on to another property.
Make sure that you have proper notifications set up so that you see any requests. Then, in your response, include other pertinent information like an online rental application to help keep the momentum going.
If you have too much on your plate already, consider using our Tenant Placement services to help you screen and place applicants.
Real Estate Marketing Is Essential for Rental Properties
After reading through these real estate marketing tips for rental properties, it's time to get to work! Focus on property marketing and watch the leads start to roll in.
Feeling overwhelmed with property management? You're not alone. Contact our team at Wolfnest today to learn more about how we can help make your life easier as a property owner in Salt Lake City.