Rental properties can be a solid financial investment, with between 30-40% of Americans living in rented homes. However, if you have a rental property, you’ll know that marketing to the ideal tenants can be challenging.
If you’re wondering how to advertise a property for rent, and you’re not sure where to begin, fear not. Read on for 5 successful ways to advertise a property for rent.
1. Classic Signage
Sometimes the old ways are the best, and this applies to property marking too. Before the digital era, one of the main ways to alert the public to a rental opportunity was to affix a sign outside. This method is still a powerful tool today.
Putting a sign outside a property makes it clear to anyone who passes by that there is a rental opportunity. It also means that you’re reaching a much more diverse market, as anyone who is in the area has the possibility of being receptive to your marketing.
Not everyone uses social media or reads a newspaper, but everyone has to look where they’re going when walking down the street. If you’re utilizing this technique, make sure the property's exterior looks appealing to potential renters from the moment the sign goes up.
2. Email Marketing
One of the powerhouses of digital marketing, the efficacy of email marketing isn’t declining any time soon. Email marketing for property rentals requires careful market segmentation, which in turn offers up to a 760% increase in revenue.
Build your email contact list through sign-up forms, and make sure you get explicit consent to contact them. This can be achieved through landing pages or property listings on your website. You can also grow your email marketing list through content marketing with blog posts and social media.
3. Advertise Property for Rent On Social Media
Social media marketing reaches a much wider audience today than in its infancy. If you’re wondering how to advertise a property on social networks, remember that different platforms tend to attract different demographics. All you need to do is consider who you’re marketing to.
If you’re renting a small studio apartment in a vibrant student area, then Instagram and TikTok may be the social platforms of choice for your target market. Meanwhile, if your rental property is a large family home on a suburban street, it’s more likely that your renters will use Facebook and Twitter.
4. Trust The Professionals
If you’re a very busy person, or if marketing jargon goes right over your head - leave property marketing to the professionals. Professional property management companies have all the necessary advertising and marketing knowledge to make sure you find the perfect tenant for your property.
They will delve into their toolkit of property marketing tips and put together a custom strategy for your property. They already have a strong network of interested renters to market to, and it takes all the stress off of you.
The Key To Success
The key to successfully advertise property for rent is creating a custom approach each time. Try out these rental advertising techniques, and you’ll be handing over the keys to new tenants in no time!
For more information on how to market and get the most out of your rental property, contact us today.