Most property owners want to enjoy consistent rental income from their property. This means that your rental unit should always be occupied by a tenant.
Such a scenario can only be achievable when you have comprehensive property marketing and advertising solutions that keep the tenant pool up to date on any vacancies.
While most property owners mean well, they may make some mistakes that might cost them a tenant or two.
In this article, the team from East Bay Property Management addresses some of these mistakes and advises landlords on how to advertise your property successfully.
What’s Your Marketing Strategy?
If you don’t plan at all, you plan to fail. This adage applies also to the marketing of your property. What tactics or strategies are you using to get a tenant? Are you going to leverage the property’s unique amenities? Where are you going to distribute the ads? Online? Or using physical print-outs?
Sit down and think about how you’re going to land a tenant within the shortest time possible. Consider what your property has to offer, what the property needs, and the percentage of the demographic who would be interested in the property.
Not Knowing Your Audience
One marketing rule that applies to all fields is that you should research and know your audience well. Most property owners apply a general and broad approach to marketing that only wastes their effort, time, and finances.
Before you create that ad, research who your target demographic is. Study what they’re looking for in a property and strategize accordingly. Your target market will determine the type of ad and the distribution channel you’ll use for your marketing.
As a solo property manager, you’re used to running the whole show alone. You’re the one collecting rent, maintaining the property, and also reading up on new laws to make sure the property is compliant with county, state, and federal statutes.
Marketing your rental property on your own is challenging. It’s difficult to fulfill so many roles as one person. Marketing your property isn’t solely about creating a good property listing. It will require you to hire designers, photographers, SEO writers, and possibly a campaign manager.
Poor Quality Photos and Videos
Don’t underestimate the power of a quality photo. Since the tenant can’t see the property physically, they’ll be relying on your photos to judge whether they can picture themselves in your rental or if they’ll pass on it.
The quality of your photos will speak volumes about your rental property. The same goes for filming a video tour of your rental. Make the right impression by only using high-resolution photos for the marketing and advertising of your rentals.
Overusing Marketing Tools
It’s easy to be bombarded by several marketing tools. Many of these tools are digital, sleek, and efficient in how they reach out to potential renters. In addition, they have automation features reducing the amount of work you have to put in.
The use of marketing tools comes at a cost. We understand that you have a limited marketing budget. Choose one tool that’s most promising and has been known to deliver. Maximize your efforts here and you can then await a good return on investment.
No Call to Action
The renter has fallen in love with your rental property. The photos are of great quality and display the property at its best. You’ve been able to describe the property’s features and neighborhood well, attracting the tenant.
A strong call to action for your property ad should encourage the prospective tenant to get in touch with you. Provide your email or phone number within the description or as part of the visual ads.
Reusing the Same One-Liners
You might have been able to land a tenant thanks to a quirky phrase you used one time. That doesn’t mean that you should now use the same line in every ad that you create.
Many property owners have been found guilty of using phrases out of context. Trust us when we say that your potential renters can see it.
For every property ad that you create, you’ll have to put on your thinking cap. You have to be original with every line. After creating a few ads, it’s only natural that you’ll run out of ideas and lack the material for writing new and original content.
Hiring an experienced property management team will remedy this. When you work with a team of experienced property managers, it’s much easier to navigate around this issue and create a good property listing that will attract tenants.
Feeling overwhelmed with your tasks as an independent property manager? We can assure you that you’re not the only one. To manage rental properties requires the necessary expertise, experience, and skills.
If you’ve reached the end of your tether, consider hiring a reputable and experienced property manager for the job. For property owners in East Bay, there’s no better company to rely on than East Bay Property Management!
We’re a leading service provider known for our comprehensive management solutions. To ensure that our clients only receive the best service possible, we hire the best of the best. All our property managers are licensed, trained, and experienced.
East Bay Property Management is also a member of the National Association of Residential Property Managers and Bay East Association of Realtors. For a feel of what we have to offer, give us a call to receive a FREE quote for our management services!