Category: Sales & Marketing

10 Strategies for Marketing Your Rental Property

Owning investment properties can be an awesome way to increase your monthly cash flow and create passive income for your family. Getting the right renters into those properties is critical to your success. To do that, you need to have a solid marketing plan that will grab the attention of the renters that you’re looking for.

How do you find the right renters at the right time who are willing to pay the right price? We’re glad you asked.

Marketing your rental property is a combination of building your network, using established real estate platforms, leveraging social media, and asking current tenants for referrals. Here, we give you 10 specific strategies, categorized by type, for marketing your properties.

Social Media Marketing

In the realm of social media, there are a variety of things you can do to increase awareness of your properties and your business. Not all social platforms are created equally, so be sure to use the right strategy on the right platform for maximum results.

Strategy #1: Facebook

Using Facebook to market your properties is a smart decision because it is one of the most highly utilized social platforms among adults in the United States. It’s simple to setup a business account and you can do a lot with the platform. Once you have your business account setup, you can do a variety of things to boost awareness, engagement, and ultimately your bottom line. Here are some of the things you can do with Facebook:

  • Post your rental property listings with photos, videos, and descriptions of the property and the surrounding area.
  • Create Facebook events such as open houses and invite people to come. When you create an event, be sure to post regularly inside the event to keep people interested until the day it happens.
  • Purchase Facebook ads that specifically target the audience you’re looking for. Different rental properties and communities will attract different types of folks, whether they’re empty-nesters, young families, or singles with no children. The Facebook ads platform can help you target exactly who you’re looking for.

Strategy #2: Instagram

Instagram is a highly visual platform and will require excellent photos and videos to truly be effective. If you’re not handy with your smart phone, you should definitely consider hiring a professional to take photos of your rental properties. You should also consider small video vignettes that can connect with potential renters in a more intimate way.

  • Use the “stories” feature on Instagram to draw in people who are scrolling through the platform on a daily basis. Although they disappear after 24 hours, they are a great way to encourage people to follow your page.
  • Be sure to make your contact information easy to find, with a link in your bio that will take the viewer to your website. This is important on Instagram because you can’t post links in your posts until you have 10,000 or more followers.
  • Be consistent with your content. This will help keep you top-of-mind with potential tenants.
  • Use the right hash tags! Instagrammers are notorious for searching certain hashtags in order to find content that they’re interested in. Do a quick Google search about real estate rentals to find out what some of the most searched hashtags are. Use those hashtags in your posts to help get in front of more people.

Strategy #3: YouTube Videos

To really have a holistic approach to your real estate business, you’ll want to build a solid foundation of followers on multiple platforms. YouTube is a really popular platform for videos that are longer than 30-40 seconds. Contrary to popular belief, you don’t have to be a professional video editor to use this platform. You just need a good content strategy.

  • Create videos that tell viewers about the communities in which you own rental properties. Tell them why these are awesome communities to live in.
  • Talk about the amenities you offer as a landlord and what your specific rental properties have to offer.
  • Give your viewers additional information that is helpful to them. For example, if you want to target new people moving into your market, create content that educates them about their new city. Information about schools, shopping, local events, and more will be interesting to newbies.
Real Estate Platforms

You should also consider using the power of established real estate platforms like Realtor.com, Zillow and others. People are already accustomed to using these platforms when looking for a home, so it makes sense to list your properties here, as well. Here are some of the things you can do with these platforms:

Strategy #4: Realtor.com

This website is one of the most popular sites in the country for people looking to buy or rent a property. Listing your rental properties on this site will give you access to tons of potential tenants, and it has several tools available to help you.

  • Use the “avail” tool on Realtor.com to help you post to multiple real estate sites at one time. This is a quick, easy way to hit multiple platforms at once, which will expand your audience instantly.
  • Use a calendar feature that will allow potential tenants to schedule a showing right from the app or website. The easier you make it for people to connect with you, the more likely they are to do business with you.

Strategy #5: Zillow

If we’re being honest, most real estate platforms are fairly similar. They all offer the ability to post your listing with photos, information, etc. But Zillow has a full suite of rental management tools that you might find interesting. Here are some examples of what they offer:

  • Tenant screening features including online applications, background, and credit checks
  • A lease builder that allows you to build a lease template and have it reviewed by local lawyers who can help you cover all of your assets prior to signing
  • Payment processing features that allow you to collect deposits, rent and other fees from your tenants
Build Your Website

All of the different online platforms we’ve talked about so far are extremely important for the success of your rental business. However, as your business grows, you will likely need your own website, or at least a landing page for your tenants and potential tenants to refer to. Contrary to popular belief, it doesn’t have to be the most tech-savvy website on the planet. It needs to be simple, informative and easy to navigate.

Strategy #6: Choose the Right Platform

There are a variety of choices on the market when it comes to building a website. If you’re not a professional web developer, we recommend choosing a web builder that offers a variety of templates and themes that are easy to use. Web builders such as Wix and WordPress tend to be the easiest for a new business to build a nice website with minimal technical skills.

Look for a platform that is easy to maintain and gives you the option for various plugins. You want your customer journey to be seamless, so make sure your chosen platform can link with your social media, your email provider and any electronic calendars or scheduling features that you plan to use.

Strategy #7: Provide Plenty of Information

When building your website, you need to consider what the potential consumer is looking for. Whether they land on your site as a result of a Google search, a social media post, or a real estate platform listing, they are there for a reason. Be sure to offer the following information to make the process as easy as possible for them:

  • Locations, including addresses and maps, of available rentals
  • Transparent pricing information that includes security deposits, monthly rent, pet rent and any other fees associated with each property
  • Contact information so they can reach out to your directly and ask questions or schedule a showing
  • Information about the communities where your rentals are, including schools, shopping, gyms and rec centers, and other things that your specific target audience may be interested in
  • Tons of photos of each property so your potential tenants can see exactly what they’re getting
General Marketing Tips

We’ve discussed some pretty specific marketing strategies in this article, but there are others that are applicable in every single case. Here are some other things to consider when marketing your rental property, regardless of which medium you’re using.

Strategy #8: Write Great Copy

This may seem like a silly thing to point out, but it’s important that your listings are easy to read and interesting to the potential consumer. You’d be surprised at how much it can impact the success of your listing. You need to have a headline that gives the customer all the information they need and a subsequent description that is interesting and engaging.

When we talk about headlines, we’re talking about the most important part of the copy. You need to give them as much pertinent information as possible in order to get them to click on the listing and keep reading. We find that a simple formula will help stop your reader and get them to click. Here it is:

  • Price – # of bedrooms – # of bathrooms – type of property – location – unique selling point

This may seem like a lot of information for a headline, but these are some of the most important pieces of information that your potential renter is looking for. Here’s what it might look like:

  • $1500 3-bed 2-bath house in Dunedin with stunning views

This gives them all of the major pieces of information that they will use to make their decision, as well as one selling point that will entice them to click on the listing. If you use this formula, you will likely find a higher click through rate than with headlines that don’t offer this much info.

After the headline, be sure to create copy that is not too wordy, but gives the potential tenant all the information they want to know about the listing. Make it interesting and informative.

Strategy #9: Do Your Research

Before implementing any of the strategies we’ve discussed, you need to first do your research on the market. Depending on where your property is located, you may be able to charge more or less than if the property were in a different area of town. Doing a quick analysis of the area will help you determine the following information before creating your listing:

  • The type of renters who will be interested in your property – empty-nesters, young families, singles without children, etc.
  • The amount of rent you can charge for your property, based on comps in the area
  • The features of the community that are interesting to your potential renters such as restaurants, shopping, schools and more

Strategy #10: Ask for Referrals

This is a good business practice regardless of what you do for a living. In rental properties specifically, it’s a great idea to ask some of your best tenants for referrals. This works really well if you have multiple properties in the same community or area of town. If you have some great tenants who regularly pay on time, take good care of their rental and enjoy having you as a landlord, they are a great source of referrals for you!

Final Thoughts

Implementing one, five or all of these strategies will help you get your rental properties in front of more potential tenants than simply using the local newspaper. The world is becoming increasingly digital and consumers are looking for their next home on the internet. Most of these strategies can be implemented with minimal education about the platforms being used and the algorithms that support them.

The key to being successful in marketing your properties is figuring out who your target audience is and then marketing to them in a way that is convenient to them. Make sure that your listings are easy to find and that you are easy to contact. Combine all of these efforts together and watch your listings fill, along with your bank account!

Branding Your Real Estate Business With Thought Leadership

Every establishment needs to be in touch with potential customers; this is not an exception with real estate investments. Branding thought leadership is essential to real estate dealings. This compilation aims to highlight the benefits of branding considered guidance in navigating the murky waters of the real estate world. Every outlet for business wants to offer that service which is irresistible to those who desire optimum and quality service delivery. Thought leadership in relation with real estate businesses aims to allow real estate service providers related to the problems faced by potential customers; it will enable customers to think highly of your brand and its uniqueness, highlighting the different issues faced and in conclusion setting apart your brand from other players in the field.  Ideally, all dealings in the real estate world solely involve surpassing your well thought out goals, and it consists of producing the results that, in the long run, positively affect your brand.  However, if you want to be a decisive leader, one whose opinions are defining on its own, if you desire to position yourself as a leading voice, by having a distinct brand. One of the best decisions to take in becoming a commercial real estate thought leader is to be consistent and continuously find ways to position your brand as being influential and authoritative.

This involves taking well thought out steps, calculated steps to be a thought leader in the widely acclaimed real estate leader. This is not one status that is attained in a day; it involves deliberate efforts to learn more about the field, creating a credible notion among your peers that you are conscious about this and you are well aware of all the implications and what it takes to be a real estate thought leader. There are many assured ways of doing this; but the most credible forms of gaining a voice in an already stifling industry is to be intentional about the steps you take; growing you and your team’s presence through reliable means such as education, research and long-lasting investment in the industry coupled with assured commitment to your immediate community.  Let’s paint a scenario where you already have a successful real estate outlet, a thriving brokerage business. At all, you are on this page because this is one of the dreams you want to achieve in no distant time. You already know your industry, and you have, through consistent efforts, defined your niche, and you also intend to help others grow in that geometric growth you have experienced. Now how would you go about this? How would go from just a business start-up owner, from one random innovative individual who has an outlet for the buying and selling of assets in the real estate world to the assured and proven expert on real estate matters; a trusted and assured source for consultations on issues of interest, one oozing stream of knowledge for those who dare to tap from this knowledge you possess.

How do you become a unifying voice of inspiration, a defining voice who is passionate about transforming ideas into reality and shapes the way others think about their industry? One particular way to go about this is simple; you work on it and with consistent efforts channeled in the right direction, you are really on your way to becoming what you so much desire. In line with the common saying that Rome was not built in a day, becoming a thought leader, a branding-thought leader in the real estate world is not a day’s job, and it merely does not happen overnight.  It is always the endpoint of determination, consistency, intention and diligence. But with a fast-developing global world, there are many routes you can take to get to that point; depending on you, these routes may even be faster than others. Here are some tested and assured ways you can attain your goal. There are three (3) critical steps to follow in your way to becoming an opinion leader in branding thought leadership. Some of these are:

  1. Take consistent and calculated steps to grow your audience:

Expanding the reach and increasing target audiences is one of the ways emerging businesses expand and drive home their influence. This is not one strange way for you, too, also become a leader in your chosen niche. This is seen as a natural extension of associating with similar industry experts and thought leaders. In linking with individuals or brands with similar aims and objectives, the same goals as yourself, then you are on your way to continue making your voice heard. In doing this, the audience of those you relate with would also become your audience. This is not one difficult thing to do, and it is not one rocket science. It is a typical move in the business world. Take for example, relating to a marketing firm committed to expanding the frontiers of the real estate world. By doing this, you can develop a reliable, loop-hole free strategy to aid your goal of becoming a voice to reckon with in the real estate world. Coupled with this, the use of website blogs, periodic newsletters, and in recent times the use of email marketing, will also further deepen your influence and expand your reach. This is even easier if you have a niche and drive conversion, and each time an individual or a prospective client reads any of the articles or clicks a related link, you have ultimately grown your audience even if it is by that one person.

One guaranteed way of expanding your influence is to be ready to participate in related speaking engagements. Do not turn down any chance to physically speak to like-minded people, to share your dreams with other participants in the industry. Such audiences will want to talk to you, they will want to interact with you and know more about the plans you have, they will ask questions, interactions will be done and in doing this, you will learn more and become an expert in your niche. When doing this, do not forget to record your meetings, these interactions, even take pictures and share on popular social media sites such as YouTube, Facebook and Instagram. By doing this, you can still interact with individuals who are not privy to these physical engagements but are also in the same real estate industry as yourself. Through these mediums, you can even answer other questions thrown at you. This way, you have killed two birds with one stone and you have succeeded in participating in both online and offline interactions. In all, the earlier mentioned mediums if well utilized, have the potential to build your image to the desired level in the industry.

  1. Endeavor to associate with the right people:

As with the common saying, like minds attract. Within professional settings, you should only interact with the right people. Those with which you share the same ideology; building a following among the groups you intend to serve is that which takes time but will yield the needed dividends in the long run. Forming valuable relationships like this is sure to help you with lead generation and drive conversion through the power of attraction rather than promotion, in line with industry experts. In your association with proven opinion leaders in the real estate, you have the opportunity of tapping into their reputation and the needed influence while also expanding your audience by association. In the long run, you will find it that these top opinion shakers will become your peer group within the industry. As it also the norm with other human associations, the people you relate with will tend to help you with your dreams as they would have found out that you share the same ideas and goals for the industry. They are more likely to recommend you to their contacts, their circle of influence as one trusted authority. Hence creating invaluable awareness for your establishment. You also do not have to be concerned if you are increasingly thinking that you are doing too much leaning. It is more like a symbiotic relationship as they also have much to gain by their association with you. As you are indirectly helping to further drive down their influence as a loud voice in the industry.

  1. Network, Network, and never stop Networking:

As it is often mentioned in public circles, the world is one global village. The internet and social networking apps and facilities have made linking of the chief director to that influential individual deep in the tropics of Africa possible. To become a leading voice in the real estate industry, deploying the use of social media should never escape your thoughts. Platforms such as LinkedIn, Twitter, Facebook, Instagram, and other similar social media applications have been known to help in further providing exposure for your startup. Platforms that have been implicated in the times past to be capable of influencing something as crucial as an election. Think about the possibilities and numerous advantages it can provide for your emerging firm. In the use of these platforms, the timing and placement of your links, observing the current trends and latching onto them can help to launch your brand into the public eye, further elevating your position as an emerging thought leader. Learn how to make use of search engine optimization, be on the lookout for rare opportunities than can help to grow your brand. Join reputable and assured platforms where you can list your properties. Platforms that show current market growth, which highlights your reach, shows its relevance and overall helps to position you as a business leader. In another guise, learn that becoming a voice to be reckoned with in the real estate industry is not a day job, its not something that happens suddenly, it is painstakingly done through consistent efforts; it is more like a marathon other than a brisk sprint. There is no reason to do all the above highlighted within a short time. Take your time to learn the ropes and work at your pace to achieve the lofty goal of becoming a branding thought leader in the real estate industry. You want others to acknowledge you as one with the experience, an expert, one that is worthy of listening to and solving related complex issues. This requires time; put the right effort and watch your circle of influence gradually increase.

Thought leadership is considered a very vital part of brand building. It is not an activity that can be done in a rush. Every business owner wants the brand to grow; we all want to achieve the geometric increase that has been panned out for our brand. According to industry experts, becoming a leading voice in the real estate industry requires you sampling the thought leadership template of established brands and think about how it can be applied to your establishment. What most of these top companies do is take ownership of the main issues that are responsible for driving forward the company. By owning these issues, they can effectively respond to dynamic marketplaces, and in doing this, they can redefine and lead in their respective industries. Thought leadership campaigns had been known to align with how world-class firms in the industry make use of marketing, build lasting influence and go through the extra work of delivering value to their numerous clients irrespective. Other tips by which you can become a thought leader in the real estate industry include; let it be known that these tips should be applied based on that which fully applies to your establishment. These tips are;

  • Creating a business blog: make use of a properly designed blog while offering trendy and valuable content to drive home your opinion. Gone are the days where blogs are dismissed as trivial and insignificant. Check the statistics of the proportion of the world’s population with an internet-enabled phone; then, you will get a grip on what we are trying to pass across.
  • Contribute guest blogs to other proven sites: This is also in line with you trying to grow your influence in the industry.
  • Write a column for your local newspaper
  • Create a vlog or podcast
  • Be internet savvy- answer questions on social media

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