8 Tips for Advertising Your Rental Property

Beth Davis

All County Editor

The real estate market has been hot for years now; what’s even hotter is the rental market. According to Forbes, renters occupy 34% of occupied housing units, accounting for over 45,000,000 units, a number that’s remained relatively steady for decades.

Thus, it’s no surprise that owning rental units can be an excellent source of income. However, it’s challenging to make an ROI if you don’t have quality tenants to keep your property occupied—meaning your approach to advertising a rental property is the difference between having a reliable passive income and not.

Learn how to market your rental property by reading this guide for property owners.

1. Identify Your Target Market

Identifying your target audience is the first and most crucial step in crafting your marketing strategy and rental advertisement. If you target the wrong group of prospective renters, your property will be vacant for months. While most would love to live in a luxurious property, if a potential tenant can’t afford the rent payments, there’s no use in advertising to them.

Marketing a high-end luxury apartment downtown requires a different strategy than marketing a student apartment near campus or a cottage in the countryside. Once you identify your target market, you can create an advertisement highlighting that group’s needs and desires.

2. Use Professional Photography and Videography

Eye-catching photos and videos are a must for any home or apartment listing. Great photos will highlight all the property’s best features and allow potential renters to dream about their new lives if they live there.

Hire a professional photographer to capture the property at its best. Their expertise will help you craft an online listing that creates a sense of exclusivity and desirability.

3. Take Advantage of Social Media Platforms

Advertising a rental property on social media is one of the best ways to get the word out about your rental, especially if you have high-quality photos and videos of the property. Most platforms like Facebook Marketplace and Instagram allow you to advertise your rental property for free. Take advantage of free listings!

In addition to social media, you can advertise your rental property listing on the following rental listing sites:

• Apartments.com
• Craigslist.com
• Hotpads.com
• PadMapper.com
• Realtor.com
• Trulia.com
• Zillow.com (which even offers Zillow Rental Manager, a paid service to find great tenants)
• Zumper.com

Regardless of where you post your rental listing, you must include the following details about the property in the listing:

• Price
• Number of bedrooms and bathrooms
• Square footage
• Location details (is it near a grocery store, park, or school?)
• Recent renovations (appliances, floors, etc.)
• Extras (fireplace, garden, pool, walk-in pantry)
• Unique characteristics (lakefront, scenic views, south-facing, etc.)

These days, including the property’s floor plan, is also a good idea. It allows potential tenants to visualize the property from a bird’s-eye view and imagine where their belongings would go in the allotted space.

4. Personalize Your Follow-Up Campaigns

The follow-up after a potential tenant shows interest is as essential as capturing interest.

Most importantly, when a lead reaches out, your response time matters. Act fast! The lead is likely also looking at other units, so waiting could mean losing them to another property.

Also, go beyond the templated responses. Provide a response that has personality and touches upon anything the potential renter mentioned in their message. Your attention to detail will go far as personalization creates a bond between the landlord (or property manager) and the tenant.

The bond can foster a positive landlord-tenant relationship for years to come.

5. Leverage Reviews

In the digital world, reviews mean everything. This gives tenants a lot of power regarding apartment marketing. Thus, encourage your past and current tenants to leave feedback.

Honest reviews paint a realistic picture for future tenants and allow you to make improvements.

When someone leaves a review, always comment in return. You can thank those for positive feedback and address concerns that arise in negative reviews. Tenants don’t expect things to be perfect, but they want a landlord who will listen to their complaints and improve the property when necessary.

6. Use Open House and Property Tours

Don’t forget about open houses and tours (including virtual tours) when marketing a rental property. Open houses allow potential tenants to walk through the property in a low-pressure environment, while private tours are great for serious prospects. Of course, virtual tours are ideal for those who live out of town and will be relocating.

Advertise open houses online and through traditional marketing means. Additionally, putting a ‘for rent’ sign in the yard can be an effective advertising method to draw interest in an open house.

7. Networking and Referrals

While traditional and social media marketing are powerful tools for finding potential renters, networking and referrals can go a long way. In fact, word-of-mouth is still a very effective property advertising strategy.

When you have relationships with other landlords, local businesses, and real estate professionals, you have access to more prospective tenants.

You may also consider offering incentives for referrals to current tenants, colleagues, or anyone else in your network.

8. Hire a Property Manager

The ultimate advertising tool? A property manager!

Property managers are pros when it comes to rental property marketing. Not only do they know how to write the perfect listing, but they also have access to advertising platforms property owners do not, such as multiple listing services (MLS). Plus, they will ensure all your advertising and marketing materials adhere to HUD regulations, such as the Fair Housing Act.

Not to mention, property managers offer plenty of other services from which you will also benefit. They can assist with the following:

• Finances and taxes
• Legal compliance
• Rent collection
• Reviewing rental applications
• Tenant screening and conducting background checks

Most also use property management software to streamline operations and maximize efficiency.

Let All County Help With Advertising Your Rental Property

When managing your real estate investments, advertising a rental property should be the least of your worries. Whether you own a single rental unit, have an extensive portfolio of investment properties, or are part of an apartment syndication group, a great property manager can create a rental ad for your property that draws potential tenants in and keeps your properties full and lucrative.

So enlist the help of a property manager from All County Property Management Company today, and let us do all the heavy lifting for you!