It can be annoying to know something could bring income, but it doesn’t. A place just sitting there without tenants can ruin your mood as you’re trying to rent it. Having an unrented property can quickly become a financial burden for the landlord. Not only does it mean lost income, but it also requires maintenance and upkeeping without bringing any money to the house.A property being empty and unused for too long can deteriorate, which leads to a decrease in its value, making it more difficult to find a tenant without investing even more in reparations.
A good marketing strategy is crucial for finding new tenants in an attempt of avoiding the negative consequences of having a house unoccupied for too long. There are a few simple things to remember when planning the advertising campaign that will set you up for success. Here are a few tips!
Having a property unrented for an extended period of time can leave you with headaches.The most obvious disadvantageous outcome is the income you are losing month by month. If the property is not generating income, it can backfire and become a financial burden for the landlord. Maintenance costs are to be paid even if the property is not rented. Keeping an unoccupied home in good condition can be costly, especially if you don’t have the time or the possibility to check on it frequently. The longer it stays unrented, the harder it becomes to find a tenant, which also decreases the property's value.
Another disadvantage of having a property without a tenant is that it can lead to legal issues. If a home is not properly insured and becomes the victim of an accident, natural catastrophe, or unforeseeable damage, there’s nothing you can do. There might also be local housing and zoning laws to respect.
If you want to rent a property as soon as possible, there are many ways you can attract your audience’s attention. Here are a few well-tried tactics:
There’s nothing without social media nowadays. And when it comes to renting out a property, there’s nothing handier than that. Word spreads really fast on social media platforms, and it’s definitely a must to take advantage of that. Create a post and share it with your friends and followers, or, if you’re willing to invest, you might even want to run a paid ad to reach more people.
There are many websites that can help you reach potential renters. Real estate sites like Zillow or Redfin and rental listing sites like Craigslist can give you a great advantage. Use them!
Be careful to provide all the details when creating a professional listing for the property. Include a detailed description of all the features and amenities it offers. High-quality photos count a lot, too; read about this further in the article.
Organizing an open house is one of the best “analog” ways to quickly find tenants for your property. A lovely welcoming party vibe with a few refreshments and snacks can do wonders. People passing by might drop in to check the property out. People seeing the place might be looking for a new place to stay, or they might know someone else who does. Word of mouth spreads very fast.
This is the most long-lasting marketing strategy, after all. If you plan to easily find reliable tenants fast, simple kindness and a professional attitude can go a long way. Your moving-out tenants might recommend the home to their friends if you part with a smile on your face. You might not even need to do anything to market your place because new tenants will find you first, thanks to your good reputation.
Looks are everything nowadays, and their importance shouldn’t be underestimated in marketing. There’s a vital psychological factor in why people choose one thing over another, and it’s not that difficult to do it right. Good gear will definitely make things easier for you, but you don’t need the most expensive high-tech stuff to get good results. There are a few tricks worth learning to take attractive photos of your place:
Dark photos with curtains pulled will less likely look attractive to potential tenants. Natural light and a little sunshine make everything look better. It’s psychological. Tip: plants work really well in photos, too.
To market your place at its best, it’s recommended to use a little bit of editing on the photos you take. Countless applications are available for editing your photos to look better. You can lighten the images, work on color hues, and blur backgrounds if necessary. You don’t need to be a Photoshop wizard to create effects on your photos. Also, don’t forget to look for inspiration. Open a page with listings, and pick a few offers where you think the photos are attractive. Take a good look at them and find the characteristics that make them work.
When you take a picture of something, take a second and think about how you could show it from the most advantageous angle. Clean everything from the way, so the photo only contains what you want to show. Don’t take photos of disorganized stuff, better clean up a bit before taking the shots.
Marketing your place the right way will make you get results really fast. The quality of your advertisements, like your photos and descriptions, counts a lot, as well as your good reputation when looking for new tenants for your house. But what counts the most is your perseverance in finding renters as soon as possible. As renting is also making part of the American dream nowadays, the tricks presented in this article will help you market your place to rent it immediately!