As a landlord, the biggest threat to your well-being is a revolving door of tenants. Not only do you have to invest time into marketing a free unit, but you also have to spend time vetting potential renters and signing them on.
While there are things you can do to improve your tenant turnover rate, another is to market your property better. That way, you won't be overlooked in favor of your competitors.
In this article, we'll give you the top property marketing tips so you can thrive in Bountiful's tough market.
Understand Your Target Audience
Not every property is right for every person, and that's ok and normal. So instead of casting a wide net, make your marketing efforts narrower.
Identify your ideal tenant profile, considering factors such as demographics, lifestyle, and preferences. Then, tailor your marketing messages to resonate with this specific audience.
Use Professional Photography and Virtual Tours
Even if you have a fantastic smartphone, forget about snapping pictures yourself. While the image quality will certainly be good, the photos probably won't display your property in the best ways possible.
Invest in high-quality and professional photographs and virtual tours of your property. Clear and appealing visuals can significantly enhance the online presence of your property, and it'll attract more attention.
Optimize Your Online Listings
First of all, ensure that your property is listed on popular rental websites. This will already give you an outstanding head start.
Secondly, craft compelling property descriptions. They should highlight key features, amenities, and benefits. Use keywords relevant to your target audience to improve search visibility.
Utilize Social Media
90% of Americans actively use social media, meaning there's no better place to reach your target audience than on these platforms.
Leverage them to showcase your property by creating visually appealing posts. Share relevant content to engage with potential tenants. In addition, paid advertising on platforms like Facebook and Instagram can be effective.
Work With a Property Management Company
If you aren't already doing so, then you should work with a property management company. They can address your vacancy rate head-on by putting their years of experience and knowledge to work.
Even better is that they have comprehensive services. You won't have to worry about showing your property anymore, nor will you have to collect rent, handle maintenance requests, and evict bad tenants. For an affordable fee, these experts will do it all for you.
Improve Your Property Marketing Today
Property marketing is vital if you want to fill your property. While word of mouth is still an important way of gaining tenants nowadays, you must have an online presence. Without it, no one will know about what you're offering.
It does take a fair bit of work though, so you're likely better off getting assistance from a professional. Not only can you get more tenants, but you can relax more, too.
Contact us today if you want help with your marketing strategies and more. We at PMI Mountain West use state-of-the-art technology to help our clients.
