Of all the tasks you manage with your rental property, one of the most elusive and ever-changing might just be your marketing. Rental property marketing can be a tough nut to crack, considering there’s no one-size-fits-all strategy. But the most successful rental property investors and veteran property owners will tell you that there are a few marketing secrets that help demystify your way to marketing success. Check out these best-kept rental property marketing secrets that you should be using to improve your brand awareness and fill vacancies quickly.
1. Shhh… Yard Signs Still Work
With every resource and so-called expert out there telling you to advertise your rental property vacancy online, it’s important to know that there is still value with the “For Rent” yard sign. Yes, you need a digital marketing strategy to be effective. However, most veterans will tell you they still get tenant applications from those who “saw the sign.” Moreover, renters will still drive around the area and look for these signs. So, don’t forget to keep a well-designed, branded “For Rent” sign at every vacant property.
2. Shhh… Referral Programs Are King in Marketing
Don’t underestimate the marketing power of your current tenant roster. Create a referral program with cash or discounted rent incentives and ask your best renters to help attract applicants. You can also create a public-facing referral incentive program for real estate agents, colleagues, and other professionals who also send lease-signing tenants your way. Work those existing relationships to your advantage, and you’ll always have a steady flow of candidates.
3. Shhh… Tap Into Human Resources Departments
Here’s an additional marketing secret novice rental property owners won’t think to consider. Create a brochure or series of digital campaigns to connect with local businesses and companies. Subsequently, Human Resources contacts are best, and they can refer your properties to new hires who might be relocating to the area and in need of a home to rent. Other resources include your local economic development centers, workforce development centers, and chambers of commerce, where welcome packs are sent out to new residents, and rental postings are welcome.
4. Shhh… Don’t Just List It; FOMO It!
Here’s another rental property marketing secret with regard to how you craft your listings. Yes, you’ll want to highlight the few key features of your property that are most impressive. You’ll need brilliant photos and video walkthroughs, too. But don’t just “list” it with a generic property address title or “For Rent” heading. Create that fear of missing out (FOMO) and incentivize the listing with something special. Put a time-sensitive deadline on a free parking option, extra storage space option, or discounted first month’s rent option. Dangle those carrots and use enthusiastic content to really emphasize how exciting those incentives are.
5. Shhh… Outsource Your Marketing
If you’re a marketing savant and enjoy creating content, recording walkthrough videos, and managing social media campaigns, by all means, have at it. However, with so many responsibilities on your to-do list, even the best marketers miss opportunities or forget something. The veteran rental property investors will tell you that marketing is one of those complex tasks that doesn’t need to be on your radar. Instead, outsource the marketing to a professional who can be diligent with your efforts ongoing and in generating results.
Therefore, if you’re struggling with your rental property marketing strategy, keep these best-kept secrets in mind. And for best results, outsource those efforts to a professional, like PMI JCM Realty Group. Our property management services include a full suite of task management efforts, including marketing and advertising your property. Let us handle the details and start building a flow of steady rental candidates for you!
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