Managing an investment property starts with finding quality tenants. That requires effective marketing of your unit. Before you advertise your rental, check out these tips:
1. Screen Listing Boards Carefully
There are lots of websites that charge property owners a fee to list their rentals. Before investing any money, take some time to investigate the site. For instance, find out how many visitors the site gets, and if possible, gather demographics on those visitors. Ideally, you want to focus on listing sites that attract potential renters in the right location with adequate income levels to afford your rental.
2. Don't Forget Social Media
Also, remember to post the listing on your personal social media account. That way, your friends and family can spread the word. If a renter comes well recommended by someone you know, that can remove some of the pressure of screening tenants. Make sure to set the post to "public" so that it can be shared.
3. Remember Local Paper-Based Advertising
Although the digital age is here, you may still want to rely on old-fashioned, paper-based advertising in your neighbourhood. If there is a small food market or a coffee shop nearby, put an ad for the rental on the bulletin board.
That helps you reach people in the community who are committed to the neighbourhood but looking for a new address. Also, consider putting ads in community newspapers.
Finally, if the unit is in a complex, make sure to advertise in the building. Your tenants may have friends or relatives that may be interested.
4. Be Honest
It can be tempting to oversell a rental in the ads, but that just ratchets up the expectations of potential renters and ultimately leads to disappointments all around. To prevent that, be as honest and clear in the advertisement as possible.
For instance, don't oversell a windowless storage room as an extra bedroom. Don't overstate the number of toilets or include other inaccuracies in the ad.
5. Consider Professional Photos
Quality photos help to make your ad more alluring, and you may want to hire a professional photographer to help you. In lieu of that, make sure to take photos during the day when the light is the brightest.
6. Work With a Property Manager
To make advertising your rental easier, consider hiring a property manager. These professionals know the best spots to advertise, and they can take care of other aspects of running your rental as well. To learn more, contact a property management company today.