Did you know that there are more than 48 million rental property units in the real estate market now?
If you're trying to run a lucrative rental property business, then you have to face a lot of competition. Since vacancies drain your profits, you need to strive to fill up your available units as soon as possible.
The key to spreading the word is property marketing. Do you need help coming up with the best strategies for 2023? Keep reading our rental property marketing guide so you can take your business to new heights.
1. Create a Virtual Tour
One of the best marketing benefits is that you can attract the most interested renters by forming a strong campaign. A simple way you can achieve this is by creating a virtual tour that allows renters to get a feel for the space without investing time in driving over.
This means that the people who do come for in-person tours are the ones who are already familiar with the property and want to submit an application. This will save you lots of time since you won't need to go on tours with people who aren't too interested.
2. Start Marketing on Social Media
A crucial element of digital marketing is building your presence on social media. These platforms allow you to communicate with your target audience directly.
Instagram is always a great option for rental property owners since it's a visual platform.
3. Consider Using Drone Photography
A new trend that's been taking the real estate market by storm is drone photography. Now that drones have become much more affordable and higher quality, it's never been easier to take glamorous shots at a bird's-eye view.
The reason why drone photography is useful is that renters can see the surrounding area. You can show off cool amenities like a pool and showcase how close your rental property is to other top attractions.
4. Create a Business Blog
Even though the SEO landscape has evolved over the years, it's still worth keeping up with trends. Starting a blog for your rental property business can help your website land at the top of relevant Google searches.
This will allow you to stay ahead of your competitors.
5. Invest in Professional Property Marketing Services
Another one of the best property marketing tips is to team up with professionals if you don't have much experience with marketing. If you don't want to waste time and money on unsuccessful marketing campaigns, you should let the experts come up with a personalized strategy.
They'll use their tools to fill vacancies right away while keeping your expenses as low as possible.
Are You in Need of San Francisco Bay Property Management Services?
Property marketing isn't always easy. Following these tips will help you minimize vacancies.
Are you on the hunt for a stellar San Francisco Bay property management company that can help with your marketing efforts? Check out our services to learn more about us.
Evan has been in the real estate and property management field for 6+ years. He is experienced in working with first time home buyers, is an Accredited Buyer’s Representative (ABR®), Seller Representative Specialist® (SRS) and Seniors Real Estate Specialist®(SRES®). He also works closely with Kenny Realty owners, getting their rental properties rented as quickly as possible. Evan is responsible for monitoring rental market conditions and advising our owners on market rates. He has outstanding communication with all clients he works with, keeping everyone in the loop at all times. He is the third generation of the Kenny family to practice property management on the peninsula.