The first step over 40% of people take when looking for properties is searching online. Without a property marketing strategy, your vacancy rates will increase. You won't generate revenue from your properties if people can't find them.
Use these digital marketing strategies to gain more online visibility. With these tips, you can find tenants and attract them to your online listings.
Use these proven marketing strategies to lower your vacancy rates today.
Adjust Prices
It doesn't matter how eye-catching your online listings appear. If your rental prices are set too high, potential renters won't look any further. Before using the rest of these marketing tips, research listings similar to yours.
Reviewing similar listings can help you determine which strategies work and which don't. It can also help you choose competitive prices. Look for listings that offer amenities you do.
While setting prices too high might scare away tenants, setting them too low will cost you money. Look for the sweet spot in the middle.
If you need help, work with an experienced property management company. They offer tools and resources to ensure you set ideal prices. Setting the right prices can help you better appeal to your target audience.
Request Reviews
Ask your current tenants to share their thoughts and reviews online. Positive reviews will encourage potential tenants to explore your property.
Consider leveraging word-of-mouth marketing. Give your tenants an incentive to reach potential tenants. For example, you can offer them a gift card or a small portion of rent relief.
Highlight Features
Update your online listings to better attract potential renters.
Hire a professional photographer to capture high-quality images of each unit. If necessary, make updates to the unit beforehand. Don't touch up aesthetic issues in the photos.
When touring the unit, potential renters might get annoyed if the online photos hid aesthetic issues. Making adjustments to the unit will help you maintain your property. Otherwise, potential renters might struggle to trust you.
Update your listings with descriptions. Highlight special features, including nearby stores, pet-friendly units, or your state-of-the-art gym.
Use Social Media
The average American has over seven social media accounts. Internet users spend 142 minutes on social media daily. Use that to your advantage!
Expand your reach online by sharing photos of your rental properties using social media. Start recording videos to give renters walk-through tours. Your content can help capture their attention, helping you find tenants.
Make sure to use relevant hashtags. Your posts will start appearing in front of renters as they search for local listings.
Hire a Property Manager
Developing an effective marketing strategy alone can steal time from your already busy day. Consider hiring a property manager who offers marketing services. You can leverage their expertise to make more informed and effective decisions.
With their help, your vacancy rates will drop.
Improve Your Property Marketing Strategy
A strong property marketing strategy can help you find tenants quickly. Use these tips to reach your target audience online. Otherwise, work with a property manager.
With our help, you can find tenants without wasting time or money.
Contact us at PMI Green Rock to discover how we'll fill your vacant rentals!
