Reducing rental rates is a great way to attract more tenants if you are experiencing vacancies. However, finding quality tenants to occupy your property rental is not always easy.
Luckily, there are some ways to streamline this process and gain new tenants quickly. One of the easiest ways to do this is to maximize your social media.
Using social media to promote your renal property is a fast way to reach a larger audience, creating more attraction from potential tenants.
Social media is abundant on the world wide web, so finding platforms to promote your social media on is quite simple as well. Facebook, Instagram, and Twitter are used by millions of Americans daily.
Each of these platforms, especially Facebook Marketplace, is especially useful for promoting things for sale or for rent.
Listing your home for rent on Facebook Marketplace or other common sites like LinkedIn, Craigslist, Zillow, or Hotpads are a few quick ways to get more eyes on your property.
The more people interested in your property, the more you can adjust your rates to competitive levels.
Post Quality Photos
One of the biggest parts of using social media for your rental property is making it look presentable through photos.
The pictures that you use for your social media posts should represent your home in the best way possible. You wouldn’t want to post pictures of your home that make it look cluttered, messy, or outdated.
It’s important to start with a clean, up-to-date space that people will want to live in. Along with that, you’ll want to make sure the photos that you post are of good quality and have good lighting.
If the photos don’t look good, people will think that the property does not look good.
Since the pandemic, a lot of property owners have resorted to the internet to show off their properties.
Similarly, a lot of people are relying on photos, videos, and virtual property tours to find their homes these days.
Specialized platforms like Craigslist, Zillow, or Hotpads can be great places to post your rental unit, along with a few photos or videos that represent the home best.
People typically come here to specifically look for a home, so making sure that yours looks good is essential.
Use Social Media Advertising
While anyone can post anything on social media, it’s not guaranteed that it will reach the eyes of potential customers, or in this case, tenants.
Using social media ads to promote your rental home may speed up this process, by using advertising that will reach specific target audiences.
Unfortuantely, traditional advertising is becoming a tactic of the past. Putting up flyers around town, placing a “for rent” sign in the yard, and local newspaper ads are used much less these days since nearly everything is going digital.
You’re more likely to run across a social media ad rather than a physical ad in the paper or at your local grocery store. Although both can be beneficial, focusing on social media advertising might attract more eyes.
With social media advertisements, you can reach large audiences and even target specific people.
For example, if you want to advertise to college students, use platforms that you know they will use to find homes, like Facebook Marketplace.
You can use advertising in many different ways and on nearly any platform, but it’s vital to know what audience you are aiming towards.
Include Meaningful Descriptions
No matter where you are posting your property for rent, you’re going to want to include a meaningful description of the home that accurately portrays the bedrooms, bathroom, amenities, and outdoor features.
You should also be transparent in your description, including if utilities are covered in the monthly rental rate, or if they are separate and paid by the tenant.
This is probably one of the easiest, and most important, rental property marketing strategies.
Within this small description, you’ll want to highlight the features that make your property stand out against others, enticing potential tenants to want to live there.
Don’t forget to also include your contact information and when the property will be available.
If you are someone who is skilled in writing, that’s great! You should be able to highlight the features of your rental property in an excellent manner.
However, if you lack the skill of description writing, you may want to hire an expert to do this for you. Whatever method you opt for, make sure that your property description is free of errors and has excellent grammar throughout.
Setting Rental Rates
By utilizing social media and advertising, property owners are able to target to a more competitive market. With more people in line for rental properties, there’s room for adjusting the monthly rates.
Lowering rental rates will obviously result in more tenants wanting to occupy the space, especially if prices are typically higher in the local area. Therefore, social media advertising is crucial to marketing a rental property.
Nichole Shahverdi is the Director of Marketing for Bay Property Management Group. Prior to taking over the marketing division, Nichole served as the Director of Leasing, working closely with investors and property owners to effectively lease properties and maximize ROI.
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