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What is the Best Way to Market Your Rental?

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When it comes to marketing your rental there will not be a one-size-fits-all approach. Different markets will look for different highlighted amenities, and your techniques and marketing strategies will need to be adjusted for that. Take a look below at a few articles and tips that LandlordStation has gathered to help you through that process.

 

  • Make Your Rental More Valuable – If you’re still in the research phase of looking for a rental property to buy, you’ll want to make sure that you keep its marketability in mind. Little things can make a big difference.
  • Compete Against Corporate Landlords – When your competition has the ability to hire a team of marketers and professional stagers to present their properties to potential applicants, it can feel a bit overwhelming. As a private landlord, there are certain things you can offer that your corporate counterparts might not be able to.
  • Marketing Without Social Media – Each market will be a little different, and you will want to carefully gauge the audience that you’re attempting to reach as potential tenants for your property. Make sure that you are aware of all of your options and don’t limit yourself.
  • Marketing With Social Media – Just as you shouldn’t overlook traditional marketing, you certainly shouldn’t overlook using social media to your advantage. If you do it properly, it can help you bring in new applicants.
  • Get Creative – When it comes to marketing your rental, you’ll want to make sure that you don’t fall into a rut that could eventually cost you renters. Get creative with your marketing plan and reach as many people as you can.
  • Make it Stand Out – There is something that drew you to the rental property when you bought it. When it comes time to market it to potential renters, you will want to make sure that they see what you see in the property.
  • Online Tools – Many potential tenants will look for their next rental online. One of the best ways to stand out against your competition is to provide them with a detailed view of the rental property. Online tools help you set up virtual tours, online floor plans, etc etc… Take advantage of every marketing tool so that you can to find your best tenant.
  • Determining the Fair Market Value – One of the many things that potential applicants will look for in your rental is how much you are charging for rent and how that matches up to other rentals in the area. Make sure that you understand how to determine the fair market value of your property and price it accordingly.
  • Streamline – Learning to streamline your process will help to free up some of your time as a landlord and property manager. Handling the process online can be a very helpful step in streamlining your rental process.
  • Minimizing Turnover Rates – Finding the best way to market your rental will help you find the best tenant. Once you do find that fantastic tenant, you’ll want to make sure that you keep them as long as they’re willing to stay.

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