Five Ways to Effectively Market Your Rental Property Business
By Space Coast Daily // May 5, 2020
Today we look at some easy to implement tips to help you find renters more efficiently for yourself and your customers. Whether you are looking to fill long term rentals or beach front vacation rentals, the below tips should help you do just that.
When it comes to marketing your business and filling your rental properties with tenants, it takes a little bit more than simply hammering down a “For Rent” sign in the front yard.
Even though you might catch a few eyes walking by, chances are that’s not going to attract people to line up at your front door.
Renting out property is a bit more stressful than other businesses. If you don’t have homes or units filled, you’re actively losing money.
You need those homes to be filled so you can bang on people’s doors the first of the month, demanding your rent check (maybe not just like that, but you get the idea).
How do you start marketing your rental property business? What are some of the most effective and best ways to start?
Unless you’re a proper real estate mogul with properties all over the country, it’s best to think as locally as you can. Instead of marketing your business with broad strokes, try to think of finer points you can hone in on when marketing, especially on the online side.
That means it’s vital that you register your business with Google My Business, which will help boost your online rankings. So when people search “rental properties X city”, they will be more likely to see your business at the top. Did we mention that a GMB account is free?
Think of GMB as an online digital card, that shows people your website, location, contact information and more. You shouldn’t rely on GMB to be your one and only tool, but consider it more like a complement to what you already have. It’s also a way to capitalize on organic search results, as most web users ignore paid advertisements.
You want to try and make your business as relevant and easy to find for your local community. That means adding plenty of geographical locations to your business’ description.
Once again, the theme of marketing your business is to dive into your community. That means heading to social media to market your business and properties.
Are there a bunch of college students preparing for a fall semester move? Try to join some of the local Facebook groups and post your business.
Look for rental property groups in your area or simply those Buy, Sell and Trade groups that are bursting at the seams with members.
Even though someone in that group may not want your property, they could always send it to someone that does.
While you’re at it, create a social media account (for free) and have a page where people can check out your properties, provide reviews, and ask plenty of questions.
You can also pay for boosted ads, which are much, much cheaper than traditional advertising. It’s another way to ensure your business or properties are seen by thousands of scrolling eyes.
Build a Professional Website
People want things that are easy for them. Driving and looking properties is great in itself, but it’s best to give them a small sampling before they decide to make a drive.
That means having a professional-looking website, filled with professional pictures and plenty of information on your respective properties.
This starts with the domain. Keep it professional. The professional-looking pictures can’t be stressed enough. Bad lighting or a bad angle is enough to turn even the most desperate potential tenants away.
Add in video tours, online payment options, simple navigation, and please please please make it mobile-friendly. No one wants to be zooming in and out with two fingers to try and click on a link.
In the digital world, this is going to be your first impression and we all know how much first impressions matter. As you can likely imagine, building your website is really just the first step.
A recent write-up by link building agency, Stellar SEO discussed the importance of link building and how it can benefit your business. “Some links are great to help you rank, while other types of links are a good source for referral traffic”. Rental listing sites are one good example of a link built for referral traffic.
Check Out Internet Listing Sites
As a rental property professional, you’re probably all too familiar with sites like Zillow, AirBnB, and Homes.com.
Having your business and properties listed on these sites is another way to market your business effectively, guaranteeing to draw plenty of visitors and different tenants your way.
Word of Mouth
It’s not always what you know, but who you know. Word of mouth Marketing is still the most effective marketing tool in the entire world. Even though it’s not going to move mountains and cause a flood of visitors to your website or business, it’s still the best way to advertise.
You never know someone who may know someone that’s looking for a property. This doesn’t mean you have to hand out your business card at every single social gathering, but it helps to let people know what business you’re in.
One way to encourage word of mouth is to other incentive programs. If Tenant #1 has his friend also rent with your business, both receive one month with half off their rent. You can be creative and find ways that will help others spread the word for you.
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