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Business owners have been taking advantage of the increased publicity that online platforms can offer, and rental property owners are missing out on its benefits. Between using top rental listing websites and social media platforms to showcase your property, you can effectively market your rental at a higher capacity.
1. Increased Visibility
Many of your potential renters are likely browsing through websites, social media, and online marketplaces to look for places to rent. You can leverage social media platforms to reach a vast audience. Pair rental site visibility with knowledge of the basics of online rental marketing, the visibility of your rental listing can grow exponentially.
2. Wider Tenant Pool
Unlike local property listings, online rental listings will not be limited to a certain geographical area. Other than prospective renters within the vicinity, you can market your rental property online to reach people from other cities and states who aim to relocate. With a wider tenant pool, you can fill vacancies faster, especially with multi-family rentals.
3. 24/7 Availability
Rental listing sites are available all day, every day, which means that it will be convenient for prospective tenants who are looking for rental properties. Your rental business will benefit not only from the accessibility but also from the features that come with automated responses in multiple top-tier sites such as:
- Zillow
- Trulia
- Rent.com
- Apartments.com
- Facebook Marketplace
- Property Management Company Websites
4. Detailed Property Descriptions
You can provide comprehensive details about the features of your property compared to what you can put on a rent sign, as well as utilize high-resolution photos to attract prospective tenants. Maximizing exposure on top rental sites will be more effective if potential tenants know what to expect. You should include information to gain an advantage in a competitive market such as:
- Square footage
- Rent price
- Included amenities
- Unique selling points
- Nearby amenities
5. Targeted Marketing
Many platforms allow you to target certain demographics for your rental listings, which lets you generate ample prospective tenant leads. This online strategy can let you harness the power of peak rental seasons, typically by increasing the visibility of your property listing to reach the tenants who are looking.
6. Data-Driven Insights
There are even features that led landlords to monitor prospective tenant leads efficiently to adjust their online marketing strategies. Once you enhance rental property marketing efforts for your property listing, you can expect more applicants inquiring about your rental business.
Ways You Can Attract and Retain Tenants
Creating compelling listings with high-quality photos is only the first step to a successful rental business. You must find a way to retain the tenants you find for steady income. Here are some tips you can follow to maximize the potential of your rental property.
Set a Competitive Rent Price
You can set the right rent price through market research while considering other factors like rent control laws. You can look into rental comps to determine competitive pricing points, as well as conduct thorough market research to learn other factors like rental demand and market trends, which helps you gain a competitive edge.
Offer Incentive and Perk
Offering incentives to attract potential tenants is a common online rental property marketing strategy. Some of the incentives you can provide are:
a. Flexible lease terms
b. Rent discount
c. Rent-free period
d. Free services
e. Community events
It won't just help you attract tenants and fill vacancies faster, but it also fosters a great landlord-tenant relationship for future communications and word-of-mouth referrals, making property management easier.
Conduct a Thorough Tenant Screening Process
It's much easier to maintain a positive landlord-tenant relationship when you find high-quality tenants who abide by the rental agreement. One of the best ways to ascertain that is by conducting a tenant screening process that considers criteria like credit score, criminal background, employment verification, eviction history, and more.
Post Positive Online Reviews
Some rental property websites include positive reviews in property listings, but other platforms don't. If not, then you can post them yourself to increase credibility. This can influence future tenant referrals and attract more potential renters.
Provide Tenant Needs
You can manage your rental property online through various tools and software to streamline operations. Certain tools allow you to offer conveniences like online rent payments, a 24/7 hotline for inquiries, and maintenance coordination. Some even allow you to draft custom lease agreements. Conduct thorough research to find the best tools for your business.
Online Property Listing FAQs
Do online listing platforms require payment?
Some platforms are, whether they are one-time payments or subscription-based. However, these options usually offer more features that can boost exposure.
Am I still required to market my rental property online?
Rental marketing is crucial whether you post your listings locally or online. It will be easier for potential renters to find your rental property, but you still have to expand the reach of your listing.
What should I put on my property listings?
Other than the basics like the address, number of bathrooms and bedrooms, square footage, rent price, and amenities, you should also conduct thorough housing market research to learn what would appeal to your target market.
When should I post property listings?
While you can do so anytime, it would be best to post listings during peak rental seasons. Your post will gain more traffic and it won't be buried under new posts. It would help if you used the appropriate keywords for search optimization.
How a Property Manager Can Help
Creating appealing online rental listings is one thing; marketing and managing them is another. It can feel overwhelming to handle all these at once, and it's common for landlords to opt for help from professionals like PMI Georgia.
Not only do we have an online rental listing platform for prospective tenants, but we also offer tools like tenant portals and property management services that can enhance your rental business operations.
Learn more about what we can offer! Schedule a free consultation now to determine whether we're the right fit for your rental business.
