Whether you as a rental property investor choose to hire a property manager or self-manage your rental investment portfolio, it’s essential that your vacant property is being marketed for maximum exposure to find the quality tenants you desire, or to check that your property manager is doing these marketing actions of your behalf.
- Do pre-advertise but don’t show the unit until its rent ready
Pre-advertising is a great idea because you can start to generate traction before your property is ready or available to rent. Put an online ad up and get your video tour up. However, it’s ill-advised to show the property before it is fully ready to rent out. It can turn into more problems after move in. You want to be able to say, what you see is what you get. Another important aspect to keep in mind is that the quality of the property is directly proportional to the quality of tenant you will attract.
- Do video tours
Video is the future! Virtual tours are the future of the leasing industry. The millennial generation is much more apt to use technology to obtain the convenience of seeing the available rental inventory rather than picking up the pone and scheduling a showing. Online tours are much more convenient to applicants and are a great way to increase the exposure of your rental property. By offering 24/7 access, you will generate more traffic to your available investment property.
Take your videos a step further and syndicate them to other online rental platforms. Sites like Zillow, Trulia, Craigslist, Homes.com, Hot Pads, Vast, and Trovit are all great rental search engines. These can change so be sure to stay up on top rental sites that could attract your next tenant.
- Make sure the syndicated partner sites are responsive
Most people at least begin their search on their mobile phone. If the sites you are leveraging to syndicate your listing are not responsive, the pages will take longer to load, the user experience quality will suffer and people will bounce off the site to a more mobile-friendly one. Avoid losing your traffic and only syndicate to sites that are optimized for both desktop and mobile.
- Allow online applications
Like making videos available to prospective applicants for round-the-clock viewing, allowing online applications caters to your customer’s desire for convenience an broadens your chances of getting more quality applicants on your rental property.
If you are using a third-party property manager to handle the marketing and screening of your investment property, be sure to communicate with them to ensure they are already following in these marketing best practices. As always, our team is here to serve as an additional resource to help you effectively market best practices. As always, our team is her to serve as an additional resource to help you effectively market and manage your investment portfolio. Contact us today at 469-731-5200 with any questions.