Marketing has always been a crucial component in the rental industry, as it creates exposure for your listings. The right strategies can help attract tenants and increase rental income, leading to a successful rental business. Many property owners hire professionals for their marketing efforts, and there's a very good reason for that.
Provide Insight in the Rental Market
Property managers or rental property marketing experts know every important aspect of the rental market, which is needed to make informed decisions and effectively market rental property listings both locally and online.
While you can do your own research, hiring a property manager or marketing expert saves you a lot of time conducting marketing efforts yourself. You can instead use that time to focus on more important aspects of your business.
Understand Your Target Market
Certain rental properties have ideal tenants they should target to maximize profitability. For instance, one-bedroom apartment units close to colleges should be marketed to students or young professionals, while single-family homes can be marketed to families.
Property managers will consider key demographics for potential tenants, such as age, income, lifestyle, occupation, preferred amenities, the property's unique features, and more. They can develop a comprehensive target tenant profile to find the right audience for both the local market and beyond.
Optimize Your Rental Property Listings
A property management company will know how to optimize your listings for online platforms like Zillow or social media platforms like Facebook Marketplace by using relevant keywords. Professionals who know how to market your property effectively even in a competitive rental market can showcase your investment property's best features.
Advanced strategies for rental marketing include utilizing search engine optimization (SEO) principles. Optimizing through SEO will help your rental property stand out in search engines like Google when prospective tenants look for rentals they can consider.
Generate Professionally-Taken Photos
Professional property management companies such as Blue Line Property Management include taking professional photos and videos in their rental property marketing efforts, which can significantly help boost the appeal of your rental property listings.
Potential tenants are more likely to click on your listings if they are presented well. Property owners tend to pay for property marketing for virtual tours as well, which allows prospective tenants to view the property remotely.
Track Marketing Efforts
It's important to monitor the performance of your marketing campaign in a competitive real estate market. If you’re not reaching your target audience, you’ll need to adjust your tactics. Marketing your rental to attract tenants is a continuous task even after you fill all your vacancies.
A professional property manager tracks key performance indicators (KPIs) such as web traffic, social media engagement, and lead generation to measure the effectiveness of their property marketing. This influences data-driven decisions to attract high-quality tenants.
How You Can Find the Right Rental Property Marketing Expert
Research Their Services
Check the marketing services professional property management companies offer to determine whether they can conduct property marketing for your rentals. Some only provide basic marketing, while others also perform rental market analysis, take professional photos and videos, and boost online advertising exposure.
Read Reviews
What a company says it can do for you is a different story from how well it can execute its services. You can identify reputable property management companies by reading client reviews, which reveal how they find potential tenants, determine rental income, and handle day-to-day operations.
Ask for Referrals
Ask fellow landlords and property owners about their experience with hiring rental marketing services and whether they have recommendations. There are about 130 property management companies in Brentwood, CA alone, and referrals can help narrow your search down.
Compare Prices
Property marketing prices vary for every company. You can compare which services are worth it by weighing whether the price is worth what they can offer. Always consider your rental property type as a factor. For instance, you might need to pay more to market multi-family properties.
Professional Rental Property Marketing FAQs
- How much is the average professional marketing fee for rental properties?
Property management fees range from around 7% to 12% of the monthly rent in California, although some offer fixed rates and even separate marketing services only.
- Can I market my own rental listings?
Yes, you can find potential tenants by yourself by implementing your own marketing strategies, but professionals are called professionals for a reason. They are more likely to do a better job, which can benefit your business more.
- Are marketing strategies always effective?
Unfortunately, no. Even the best marketing efforts are rendered useless if the rental demand in your location is few to none, which is why it's important to perform a rental market analysis first before investing in such services.
- What do I do after finding applicants?
The next step after marketing is screening your potential tenants. Finding qualified tenants will ensure that you won't encounter any problems with rental management. Most professional property management companies also offer tenant screening services to find the right tenants.
- How can I stay updated on the latest rental marketing trends?
If you hire a marketing professional, you won't have to. If you do decide to find potential tenants yourself, you can start by reading blogs specific to your area, attending industry events, and communicating with other landlords.
- What rental property marketing costs should I know about?
Some of the costs include listing fees on rental real estate websites, professional photography, paid advertising, website development, virtual tour creation, property staging, professional consultations, and more.
Blue Line Property Management At Your Service
You can add us to the list of professionals who can perform effective property marketing as we conduct rental market analysis, boost online advertising exposure, and take professional photos and video tours for your listings to attract prospective renters.
Blue Line Property Management can help not only with targeted marketing campaigns to find qualified tenants but also with maximizing the potential of your rental property by ensuring tenant satisfaction and smooth operations.
Ask us anything! You can schedule a free consultation now and take the next step to improve your rental business.