If you’re a landlord, the last thing that you want to have is a vacant property. Vacant properties hemorrhage money; you have to pay for utilities, maintenance, and repairs, even if you don’t have any renters living in the space!
There are several reasons why you may have one or more vacant properties. However, one of the main reasons that landlords fail to attract renters is because they don’t market their properties properly.
Sadly, most landlords don’t have the time or energy to educate themselves about rental property marketing. If you need a crash course on rental property marketing, continue reading.
1 – Network in Your Community
If you want to be successful as a landlord, you need to find unique and effective ways to connect with your community. Not only will this help you spread the word about your rental properties, but it will also help improve your reputation within the locale.
There are several ways that you can connect with your community. Some practical examples include:
- Sponsor local sports teams
- Host family-friendly events and activities
- Organize a charity for a local cause or group
However, it’s important to remember that the steps that you’ll need to take will be influenced by the demographic that you want to reach.
2 – Use Real Estate Technology
Every landlord needs to have real estate technology in their digital marketing tool belt. For a reasonable fee, landlords can use this technology to match with local renters that they can trust.
Landlords can also use this to obtain professional-level photos of their apartment rentals. Additionally, rental property owners can use this landlord marketing service to showcase their properties on the most popular rental channels in the area (including MLS and social media) without using a realtor.
These amazing features make it noticeably easier for landlords to reach a more significant number of prospective renters. Not to mention, the entire process is 100% digital. You’ll never have to deal with loose papers or pamphlets ever again.
If you’ve been having a hard time finding reliable rental technology, then you need to take a look at this!
3 – Get Prospective Renters Interested
You can’t merely put a condo or apartment up for rent and expect people to flock to your door. In reality, you need to get people interested before you make your properties available to the public. Doing this will create a buzz and inform prospective renters.
However, creating a buzz is much easier said than done. Most landlords rely on expensive schemes like billboards and radio ads. Although these methods are somewhat effective, they will set you back hundreds or thousands of dollars.
Instead of spending hundreds or thousands of dollars on advertisements, you should try using the following marketing tactics:
- Word of mouth
- Emails
- Create a Facebook page or group
You don’t need to have a master’s degree in marketing to become a successful landlord; you just need to take the time to do some research and try new marketing strategies.