Did you know that there are over 6,000 digital advertising agency businesses in the United States this year? The need to market a company will always exist which is why so many agencies make money.
If you are a real estate investor who doesn't budget for marketing, you could be missing out on some of the best tenants available. Like any other business, you need to invest in marketing to make money from your rentals.
Not sure where to start? Keep reading to learn some investment property marketing tips.
Create a Rental Listing
Having a rental listing is the best property marketing technique to follow. The listing should highlight the property's best features and include details that every tenant wants to know.
While you should have a short description of the property, you'll also want to include high-quality photos. Tenants looking for a home want to see what they are getting themselves into before they go a step further in the process.
When you market your rentals, you don't have to put the rent price in your listing. However, setting an effective rental price that makes sense for the market is a huge factor when you market your rental property.
Some property owners choose to omit the price in a listing in hopes that tenants will call asking for more information. Don't bet on this technique. It's better to give the tenants what they are looking for if you want to attract them.
Post Your Listing
You have the perfect listings for your real estate investment properties but that means nothing if no one can find them.
You'll need to get your listing in front of as many prospective tenants as you can by posting on the most popular rental listing sites.
You can decide which sites you want to post on or work with a property management firm that can complete this task for you.
Time the rental market if you can. During peak rental season, you might be able to list your units on these sites for higher rent prices.
Use Social Media
Using social media is a great marketing tool for anything these days, including rental units. You can share a rental listing with communities through Instagram, Facebook, Twitter, and YouTube.
Social media offers a unique way to showcase property. Virtual tours on YouTube are a great way to attract prospective tenants. You can also post property pictures on various platforms.
Social media is helpful for word-of-mouth marketing too. The more people you share your units with online, the better your chances of them talking about it offline are.
Another offline method of marketing you can try is using "For Rent" signs for those walking or driving by your property.
Investment Property Marketing Tips to Follow
Investment property marketing is key to finding great tenants who can decrease your vacancy rate. If you know you have great units, utilize real estate advertising to bring tenants in and increase your cash flow.
Start by creating a rental listing and finding the right sites to post the listing on. You can also use social media to market your property as a desirable place to live.
Hiring a property management company provides you with the tools you need for successful marketing. Contact us today to learn about the services we offer property owners.