Rental Property Marketing Mistakes
As a landlord, it's important to avoid making marketing mistakes that could discourage potential tenants from considering your rental property. In this blog post, we'll outline six common property marketing mistakes and explain how to avoid them.
Here Are the 6 Biggest Rental Property Marketing Mistakes to Avoid
To prevent your property from sitting vacant for extended periods of time, it’s important to market your rental property correctly. You need to understand who your target tenant is and what they’re looking for. You also need to use the right mix of marketing channels.
Mistake #1: Not Enough Photos
When potential tenants browse through listings, they look for properties that meet their needs and fit their budget. If your listing doesn't have any photos, they might assume it’s not the right fit for them.
As such, a lack of photos could significantly affect the amount of attention a property gets, as listings with photos receive twice as many inquiries as listings without photos.
Make sure to include high-quality photos that accurately represent the property. If necessary, hire a professional photographer to take pictures of exteriors, common areas, and individual units. In addition to increasing the number of inquiries you receive, high-quality photos will help you attract higher-quality tenants.
Mistake #2: Poorly Written Ads
Some landlords might neglect to proofread their advertisements before posting them. This could discourage potential renters, as they might assume the owner isn’t detail-oriented. To impress and attract renters, take the time to proofread your descriptions carefully before posting them.
All ads should be clear, concise, and free of errors. They should highlight the unique selling points of your rental property, and include a
strong call to action. The ad copy should be persuasive, yet not too pushy.
Mistake #3: Not Enough Online Exposure
Many rental properties don't have enough online exposure, which could prove troublesome, as potential tenants are increasingly using the internet to find rental properties.
In fact, a recent study by the National Association of Realtors found that 43% of all renters begin their search for a new home on the internet. This number has been steadily increasing in recent years, as more and more people rely on the internet for information about homes and apartments for rent.
To avoid missing out on potential renters, landlords should ensure their website is mobile-friendly and has SEO-friendly content. They should also use social media and online advertising to market their properties. An effective website is key for any business in the 21st century, but this is especially true for landlords.
Mistake #4: Not Catering To Potential Tenants’ Interests
Many landlords make the mistake of not catering to their potential tenants’ interests, which can lead to a loss of potential renters and income.
It’s important to take the time to figure out what renters are looking for, whether it’s a certain price-range or specific amenities. Only then can you make sure your marketing materials reflect their interests and will attract potential tenants.
For example, if you’re marketing a luxury apartment complex, you’ll want to highlight the aspects of it that justify the higher price, such as additional conveniences or recent renovations. If you’re marketing a budget-friendly apartment complex, your approach should reflect that.
Mistake #5: Not Using Social Media
When it comes to marketing your rental property, social media shouldn’t be ignored. It is a very powerful tool that can help you reach a large audience quickly and easily.
Most people
have some kind of social media account, be it Facebook, Twitter, Instagram, or LinkedIn. With so many people using social media on a daily basis, it’s the perfect avenue to market your rental property.
When creating a social media post about your rental property, make sure to include clear and concise information about the property, as well as several high-quality photos.
Make sure to highlight any amenities tenants may be looking for. If your rental property has a pool or a gym, be sure to mention that in your
listing. Tenants will be interested in these types of amenities and will be more likely to choose your rental over one that doesn't have them.
Mistake #6: Not Offering Incentives
One of the biggest mistakes landlords make when marketing their rental property is not offering incentives. Discounts, freebies, or special offers can make your rental property more attractive to potential tenants.
Some examples of incentives include:
- Discounts – Offering a discount on the security deposit or the first month’s rent can help attract potential tenants.
- Freebies – Offering a freebie, such as a TV or a gift card, can also draw the attention of potential renters.
- Special Offers – You can also offer special deals, such as waiving the application fee or a rent-to-own option.
By offering these types of incentives, you can make your rental property more attractive to potential renters and lease your property faster.
How MTD Property Management Can Help
MTD Property Management offers a wide range of services to help landlords with rental property marketing.
The team of experienced professionals at MTD Property Management is dedicated to the success of their clients. We have a deep understanding of the rental market and know what it takes to market a property effectively. We’re accustomed to working with landlords to develop customised marketing plans that meet their unique needs.
Our experienced professionals can help you create a custom marketing plan, develop targeted advertising campaigns, and provide ongoing support and guidance. You can get a free consultation to learn more about the services offered.
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