More than 114 million people rent in the United States, comprising about 35% of the population. With so many renters, it's still often difficult to attract tenants for your property.
How can you find tenants for your Orlando property? The secret most often lies within perfecting your property marketing. Understanding how to advertise property is critical for drawing in numerous high-quality tenants.
If you're curious about how to attract tenants, we're here to help guide you. Read on for four crucial property marketing tips on how to fill your properties. We'll also look into some ways to improve the value of your home as you attract tenants.
1. Update the Home
The best way to attract tenants is to update your home.
Newer properties are more likely to attract renters. Older properties (or those needing renovations) are more prone to issues. While renters won't need to pay for these, they won't enjoy the hassle of having to call the landlord out.
Instead, consider renovating the inside of the home. Newer restrooms, kitchens, and better appliances are a great place to start.
Improving the aesthetic of the exterior is also a good way to attract tenants. Renters are more likely to show interest in a freshly-finished home rather than a worn-down property.
2. Strong Rental Listing
Another important factor is to begin your marketing on the rental listing.
Using "boilerplate" language in your rental listing can cause it to fall by the wayside. There are hundreds of other listings competing with yours at any given moment. Standing out is paramount to attracting tenants.
Additionally, make sure you're leaving clear contact information for tenants to follow up with. Tenants are more likely to inquire if the pathway to do so is provided.
3. Virtual Tours
While not mandatory, one great way to improve interest is to set up a virtual tour.
Virtual tours use 360-degree images in your property to allow tenants to "walk through" the home online. Doing so gives them an exact idea of what the home looks like more than traditional photos can do.
However, the cost to invest in the equipment to make a virtual tour can be steep. Consider how often you'll create virtual tours before making such a large financial investment.
4. Network With Tenants
Finally, you shouldn't hesitate to discuss future tenants with current or past tenants.
Renters are happy to discuss their experience renting your property. Word of mouth and social media are two of the greatest ways to draw new eyes to your property.
You can also create a rewards program for tenants to refer future tenants. However, be wary of unreliable tenants referring bad clients to earn rewards quickly.
Mastering Your Property Marketing
Making the most of your property marketing begins at your home. Do your best to update and renovate the home so that more renters are interested in the property. Craft an intriguing listing and let tenants refer others to you.
Interested in learning more about marketing your home in Orlando? Consider booking an appointment to discuss getting the most out of your rental property.