Sometimes listing your rental property online isn’t enough to find a suitable tenant. Most successful Realtors will tell you that going beyond the bare minimum and putting forth a solid marketing effort is essential to finding prosperity in the real estate industry.
But that doesn’t mean marketing has to be hard work. Something as simple as advertising that you use online rental applications may make renters more eager to apply to your properties.
Here are some easy and effective ways to get your property seen by the perfect renter.
Effective Marketing Tool No. 1: Show Renters How Easy it Is to Apply
Most renters know how dreadful and lengthy the traditional renting process can be. Filling out applications by hand and having to wait for a screening report make people reluctant to apply for rental properties. However, Online rental applications with built-in screening reports have made renting easier than it’s ever been.
On your property listing, you should specify that potential tenants can quickly and easily apply for your property online. If you don’t use online rental applications, you should definitely make the switch as soon as possible.
Online rental applications make renting faster and eliminate the large amounts of paperwork required to apply to a property.
Effective Marketing Tool No. 2: Social Media
In addition to online rental applications, having a strong social media presence can get your property seen by a large audience. Twitter is more than just a platform where you can complain about your Barista spelling your name wrong and Instagram is for more than showing your friends your vacation pics from last summer. These two specific social media outlets, when used properly, can be highly valuable to all Realtors.
With Instagram’s new album feature, you can share multiple pictures of your open house or property in one post. With the proper hashtags such as #OpenHouse and #[your market]RealEstate, you can vastly increase the reach of your post.
You can even talk about the online rental applications and easy sign up process on your posts to try and get the attention of a prospective applicant. Additionally, you can talk about your comprehensive screening report, which will discourage bad applicants from applying, saving you more time.
On Twitter, you can also utilize hashtags to increase your reach in addition to networking with agents in your area and nationwide. These connections can be a source for leads as well as insight and advice regarding the real estate business.
Constantly interacting with other agents and providing interesting content are two ways that you can amass a strong following on social media sites. A large base of followers will make it even easier for you to market your rental property.
Effective Marketing Tool No. 3: Word-of-Mouth Referrals
Without a doubt, the best type of lead is a referral. Whether it be a satisfied customer, a landlord who you’ve sent excellent tenants to, or an agent you’ve networked with, being referred a client is an easy way to get your rental property filled.
However, in order to get these referrals, many times you will have to reach out to your network. For example, if you know that you have a good relationship with a landlord because you use a comprehensive screening report to refer him or her tenants, you can reach out to that landlord and ask if they have any tenants that are looking to move out.
From there, you can either show them your rental property, or even try and convert them into a first-time buyer. You can use the first two tools here as well, whether you follow these referrals on social media or tell them about the easy online rental applications that you use.
This is where an extensive network comes in handy. Don’t be afraid to reach out to people you haven’t talked to in a while, as they will probably reach back out to you for a referral in the future as well. The cycle of business is a beautiful thing.