Finding the right tenant for your rental property can be a challenge. These 6 tips can help you understand how to advertise your property to attract a great selection of renters.
1. Take awesome photos. Good photos can help bring your property to life, finding the best angles and showing off its best features. Try to make sure there are at least eight photos of your property, including a few exterior shots. It may be worth looking into hiring a professional.
2. Include a floor plan. Understanding the layout of your rental property will allow potential renters to visualize the space as their own.
3. Include details about local amenities. If your property is conveniently located near to schools, hospitals or shops, then say so. Features like quick access to public transit and shops can massively increase a property’s appeal.
4. Know your audience. Look at what types of property appeal to which kinds of people. For example, If your property is located in a student area, then tailor your message to emphasize the requirements you believe they will prioritize.
5. Be realistic about rent. Charging too much for rent can result in extended vacancies, leading to a loss of profit. Conversely, charging too little for rent can make you miss out on your max ROI.
6. Hire a management company. When you work with a property management company like Simply Residential, they handle the advertising from strategy through execution, leaving you with more free time to enjoy your earnings.
Advertising is key to the success of your property investment — make sure you’re doing it right! If you have questions about how to market your property, or want some help getting all the steps right, let’s talk: 952-831-5300!