Finding quality tenants who would ideally lease for longer terms is challenging for property owners and landlords. Fortunately, property managers come in and take over the burdens of this nerve-racking task, and thanks to their expertise, they can attract tenants and put them through a thorough tenant screening process that will eventually come up with theoretically excellent occupants of the rental property.
However, property managers must use different approaches and turn marketing ideas into action steps to make the property visible to target tenants. In this article, we will explain seven of these marketing approaches that have been proven successful.
We are starting with the most prominent and logical marketing idea on this list - the website. It is a 24/7 working advertiser of the rental property business that shouldn’t be taken for granted. A fully optimized and functional website will communicate the whole message of your business so that tenants can connect to it in the process of looking for and choosing an ad home for them. The website will create an excellent first impression for people searching for listings online and keep them in the loop until they decide to check out the rental property in person.
In addition, the website offers space for showcasing the rental property with imagery, even in 3D, which is an excellent way to hook the potential tenants while they are still beginning their journey to finding a new home.
The SEO optimization of the website is closely related to item no.1 on the list since a good website, if not SEO-optimized, will remain in the shadow of its competitors online. SEO stands for search engine optimization, and it boosts the website’s online visibility by ranking it in high positions on the Google search results page. A rental property website must rank on the first page of Google because when people search for information on the net, they usually click on the first few organic results that Google shows. The first three ranking positions receive more than ⅔ (circa 69%) clicks.
To optimize an SEO rental property website, you should talk to an SEO specialist specialized in the real estate and property management niche and implement the suggestions and recommendations they will give. The optimization has several sections like technical SEO, which makes sure the website is fully technically operational to be crawled by Google bots; on-page content SEO, which makes sure the content on the site is enriched with the keyword phrases that people use to search for rental properties and off-page SEO which is raising awareness of the site by building backlinks to it on other authoritative websites which publish content liked by the target audience of the business.
Regardless of who runs the rental property business, be it the property owner, landlord, or property manager, posting on social media from business and private profiles is an excellent way to put the word out there. People find out the news about everything mainly through social media, and you should use this to your advantage. Post frequently about the vacant property units available for renting or announce open house tours regularly. Expand the followers and have your friends engage with the posts (like, share, comment, and put the listing on their stories) so it gets a broader reach. Even though that might be a costly idea, you can even work with influencers to do virtual walkthroughs of the rental property unit.
We are still talking about online marketing ideas - and the next one is creating business listings and Google My Business Profile. This is good for your local SEO efforts because it will help the rental property be seen by the people in your area who are searching for information about renting a house online. Also, previous tenants can leave a review of the rental property so other people can learn more about the place and make an informed decision based on first-hand experiences.
Next is networking. You must develop and establish good relationships with local real estate agents and have them on your side. Contacts are essential in this business because people trust people when they recommend a place to live. You can also establish good relationships with property managers and local companies dealing with rental property maintenance, such as contractors, cleaners, and HVAC professionals.
Reputation is a crucial factor that adds to the credibility of your rental property businesses. We are talking about both types - online and offline reputation. People are most likely to choose to rent a place if they know that your business is well-spoken and some satisfied tenants are currently living or have lived in the past in your rental housing units.
To build a reputation, you must focus on providing excellent customer service, keeping your properties well-maintained at all times, and promptly addressing any issues. Also, it would help if you encouraged tenants to leave positive reviews and even consider implementing a referral program to motivate them to recommend the property to others.
Last but not least, paid marketing is a great idea to boost the visibility of the rental property. It is the most expensive option but is a very focused approach to advertising and attracting tenants, so ROI is soon achievable. By doing paid marketing, you will get lots of views from the targeted audience. Depending on their expertise in executing paid ad campaigns, these quality leads will likely become renters.
By optimizing your website, leveraging social media, networking with local professionals, and prioritizing customer satisfaction, you can attract more property owners and tenants to your rental business. Building a solid reputation and investing in paid marketing boost your visibility and credibility, ultimately leading to tremendous success in the rental market.
