A Strategy for Improved Rental Property Advertising
A new year is just ahead and plenty of landlords are planning their budgets for the coming year. Some are even considering outsourcing administration, leasing, maintenance and even marketing to a property management company.
Given portfolio growth, material and labor shortage and costs due to the pandemic, it’s understandable. Yet, landlords can do more and there’s no guarantee you can find a property management company you’ll feel confident of.
To get the best tenant, you have to do rental property marketing and advertising well.
Tenant Marketing is Your Business’s Lifeblood
The average landlord and property manager still uses classified ads and for rent signs in windows. But how you carry out advertising and marketing determines revenue potential, costs, tenant loyalty, and more. It pays to learn how to do it and keep improving using digital tools and techniques.
We discussed how it important tenant marketing is in previous posts. From writing excellent rental ads to online marketing and visibility to helping property management companies find landlord leads, we all connect online today.
The final word is that the quality of the tenant you attract will determine the profitability of your rental properties. When this doesn’t go well, it’s difficult to undo the damage. Consider landlords who bring on tenants who can’t pay the rent through job loss, or wreck your property, and then must hire a lawyer to correct the situation.
Let’s Talk Rental Marketing
Yes, this is a Pep Talk to encourage you to take all aspects of rental property marketing more seriously. If you haven’t set a rental property marketing budget, then tackle that after you read this post.
Advertising isn’t marketing. Marketing is a system of strategy to bring the best value offer to tenants, and create a smooth path to signing a lease. It’s based on knowing your target customer and presenting your value proposition to them well. It’s a full process and you can develop a system with ManageCasa’s platform.
ManageCasa’s platform offers a client marketing website where prospects will land. On those pages, you impact, engage and inform prospects about your units for rent, showcase the compelling features, and generate a lead. The platform also provides a powerful rental ad syndication service that connects you with the major house and apartment rental sites online.
What Will Your Marketing Process Look Like?
You use property inspection checklists, so why not do the same to ensure you’ve got your marketing message covered too?
Here’s a Simple 4 Step Marketing workflow to follow:
- On a spreadsheet, list your properties. In columns, list the most important features to tenants. These are the features that attract good leads. Don’t list too many because it’s just clutter. The top 5 or 6 are the ones renters pay attention to. How you word your listing and the rental price will determine which viewers respond. The point is to filter in good renters (based on where you advertise) and cite just those features that will generate the lead. Don’t clutter it with details, because that invites fussy, analytical, and demanding tenants. Big picture renters are often confident of their finances and are easier to serve.
- Write several compelling advertisements for each property which nicely describe these key features. You can test different ad descriptions to see which provides the most and best leads.
- Next, within your ManageCasa customer marketing site, you can layout the photos, blueprints, videos, 3D tours, photos and text descriptions of the neighborhood, rooms, and rental building, etc. and then write your ads by filling in the appropriate boxes in the form. So easy!
- Within your ManageCasa account rental advertising tab, you can manage your ads, rewrite, publish to the best performing rental listing sites and have your inquiries sent to your business email.
When you’re fielding inquiries from prospective tenants, ask them whether they liked the ads they saw, pictures they viewed, and of course, what they’re looking for. This marketing information is vital to your future band and listing advertising strategy.
The Quest for Better Tenants through Good Marketing
With vacancy rates so low these days, you’re going to get the unit rented. It’s smart to use the situation to learn more about your audience and how you can groom a better relationship with any tenant. Collecting feedback on what they want and about how they view and experience your unique value proposition is important. Knowledge will turn into profit.
I’d encourage you to become more refined and effective in writing your rental ads and discovering which rental listing websites are the best. These are key property marketing skills that will improve leasing rates and help you charge higher rents.
You want the best for your rental property business, and ManageCasa will help you become successful.
Find out more about ManageCasa’s impressive unique value proposition to clients and take a Demo of the Rental Listing Service. We’re looking forward to serving you.
See also: Hire Property Management Company | Hire Rental Property Maintenance Company | Property Management Software | Property Management Performance | Apartment Rentals Ads | Apartments for Rent | Rental Listing Websites | Rental Listings