How to Market Your Rental Property Online
By Robert Greenberg, VP Marketing, B2R Finance
In a hyper-connected and mobile world, many prospective tenants begin their rental search online. As a result, a strong marketing plan is essential to reaching the right tenant and minimizing the amount of time your single-family rental properties are vacant.
The goal of marketing your property online is to reach as many potential tenants as possible in an efficient manner. Online methods – including listing services and video tours – are great for quickly getting the word out that you have a house or apartment unit available for rent.
Be sure to consider national sites, such as realtor.com, Craigslist, Postlets, Trulia and Zillow. You may need to have your property listed with a real estate agent or broker via a local multiple listing service in order to participate in some of these national sites.
Make sure your listing provides vital information a potential renter will be seeking such as the monthly rent, the security deposit, availability date, number of bedrooms and bathrooms, the pet policy and the square footage, as well as any amenities your property offers that may help it stand out in a sea of listings. Including a link to the property’s location is also helpful to prospective renters.
Upload photos of both the interior and exterior of the property that show the property in its best light. Hiring a professional photographer and/or videographer is often well worth the extra cost. Take time to describe special attributes that might interest a potential renter. For example, does it have a fenced yard that would be ideal for families with young children or pets? Is there an outdoor entertaining space, covered parking or a washer/dryer in the unit? Have there been recent upgrades that would appeal to renters seeking a hip or luxurious space? What are some points of interest in the neighborhood?
In addition to the national online listing sites, consider regional and local listing sites as well, including the online classifieds of your local newspaper. Some of these sites will cost a nominal fee.
If you are savvy with social media, you may also want to consider marketing your properties on sites such as Facebook, Twitter, Instagram, Pinterest or YouTube. This is an excellent way to leverage your personal network to help you promote your rental properties. Even if your property is rented, consider maintaining your social posts on the property in order to sustain continued interest and minimize the amount of time the property is empty should your tenant decide not to renew the lease.
Online marketing sites can help residential real estate investors get the word out quickly and cost effectively that they have properties to rent — and turn their vacant properties into occupied ones.
B2R Finance offers rental investors innovative lending products to help unlock equity from existing portfolios and provide the cash needed to build rental portfolios nationwide. For more information about how B2R can help you obtain rental property financing, just call 800-227-8107 or visit www.b2rfinance.com/borrowers and follow us on Twitter @B2RFinance.
The information on this page is provided for informational purposes only and does not constitute investment, real estate, or legal advice. This information should not be regarded as a recommendation or an offer to buy or sell any product or service to which this information may relate. No representations or warranties whatsoever, express or implied, are given as to the accuracy or applicability of the information contained herein. The information may be modified or rendered incorrect by changes in the marketplace or developments in the law, or for any other reason, and may not be applicable to any individual reader’s facts and circumstances.