The average resident of a single-family rental home tends to stay for around three years. Yet, a tenant staying for up to six years is not uncommon.
In contrast, the length of time a resident stays in a rented apartment is much shorter.
No matter what type of home your rental property is, you may find it difficult to get tenants to sign. After all, the tenant before probably stayed for a good amount of time.
So, how can you market your property to attract tenants? Read on to find out.
1. Take Great Photographs
Before reading the description of your rental property, most prospects are going to look at the photographs first. If they like what they see, they'll move onto the description and other aspects of the property.
Without quality photographs, you can't expect to get a tenant quickly. However, they don't just need to be quality photos, they have to be the right photos.
For example, you should always have pictures of the best pieces of the property. This could be an updated kitchen, master bedroom, or outdoor space.
Although every room on the property should be photographed, focus most on the best selling points.
2. Use Advertising Platforms
Nowadays, renters are looking for properties by shopping online. There are plenty of online advertising platforms to choose from.
Rental management companies can help you find the right listing sites for your property. In fact, one of the major benefits of working with a rental management company is that they have the tools to market your place.
3. Placing Signs
Even though many renters look for listings online, there is still use for placing "For Rent" signs outside of your property. If you expect to capture local traffic, this is the way to go.
Those that aren't looking for a place may remember the sign and refer your rental property to someone who is looking. This generates word of mouth which is another effective marketing strategy.
4. Update Appliances
Those searching for 'rental properties near me' want to live in a place that isn't outdated. It's hard to compete in the real estate market when you don't have up-to-date appliances.
As the private owner of rental properties, you have a duty to make them more attractive to prospects. If you are having trouble finding tenants, new appliances can go a long way and make your property value rise.
5. Offer Move-In Specials
Your rental property may sell much faster if you offer a move-in special for those that sign a lease. One of the most common deals for tenants is the first month of rent for free.
You can also offer to waive deposit or application fees. Offering a lower price or some kind of deal shouldn't break your bank. The truth is, it may earn you more money in the long run.
Hire a Rental Property Management Service
Above are five great tips to help rental property owners find a new tenant as quickly as possible. However, the best tip we can provide is to hire a full-service property management company.
At Homeriver Group, we strive to help our clients find the best tenants through marketing tactics and so much more. We can take difficult problems and always find the best solutions for a rental property.
Contact us today if you are serious about getting your property rented.
