Marketing Your Rental Property

Image Source: Canva

 

You’ve prepared the house or unit for new people to move in, now it’s time to tell them about it. The best place to market your rental these days is online. Keep these considerations in mind when posting to your preferred rental search site. 

 

Be fully aware of how to comply with all pertinent fair housing requirements.

Create a thorough description of the house and the amenities. Focus on the property and local area, do not focus on the type of people you want to attract.

Things to include on your listing:

  • Monthly Price (Do your market research. Be realistic.  Avoiding vacancy will benefit you more than hoping to get lucky and achieve an above-market price.)
  • # of bed & baths
  • Square Footage of the house and the yard
  • Your preferred length of the contract (typically 12+ months)
  • What upfront costs are required.
  • If pets are or aren’t allowed.
    • If they are allowed, how much is that deposit for pet damage?
    • Will you charge a pet rent?
  • Any utilities that are included in the rent
    • For full transparency explain what utilities the tenants will be paying
    • Don’t forget landscaping responsibilities
  • Local things
    • Where’s the nearest grocery store? What’s the nightlife and commute like? What school district is the home in?
    • What’s the walk score?
    • Again, don’t focus on the people in the neighborhood, focus on the places.

 

Photos

Take great photos of your property, inside and outside, to attract prospective tenants. There are loads of quick tutorials on YouTube on how to take great Real Estate Photos.

Make sure to show off the space. Use enough light to show off all the details in the room, especially if you plan to leave your home furnished. Take photos from different angles to best capture everything the unit has to offer. If one room leads to another, show off that layout. Make the prospective tenants feel like they’re walking around the unit with you.

A note on that:  Put your photos in order of how they will happen at a tour, or in an order that follows these basics:

  • Front Exterior
  • Living Spaces (Living Room, Dining Room, Kitchen)
  • Bedrooms
  • Bathrooms
  • Back Exterior

Try to make the order of photos orient the viewer, as opposed to disorient, as they first see your home online.

Photos and price are the first things to shake up and re-strategize if you notice you’re not getting enough traction.

 

Hire a Professional

All of the above topics deserve more space than a blog allows.  If you’re going to lease and manage your own properties, read up on it.  Or consider hiring a professional (like us) to assist you.

Posted on March 5, 2020 at 8:00 am
JMW Group | Category: Featured, Manage Like Michael

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