Gone are the days where the only option to advertise your property was in the newspaper and with a FOR RENT sign plunked in front of your building.
Now, in 2016, there are three things that are certain: death, taxes, and smartphones.
It’s time to be realistic. Who is renting your property, and where are they finding information? Online. This is why it’s such a good time to invest in real estate. Not only is the market finally improving after a long stint of poor returns, but also because it’s the age of internet and digital connectivity. As a direct result, marketing has never been easier for rental properties than today, and a strong marketing strategy for your investment is an absolutely must.
Millennials are your prime target audience. They’re the crowd of young adults who are still young and working on becoming established. As a whole, they’re more interested in renting than any other group of individuals, which makes them the primary focus when marketing your property.
So listen up, this will help guide you through the digital world to properly market your property to the people that you’re trying to track down.
Keep Up With A Relevant Blog
Before you start to blast Facebook with hundreds of ads of each unit you’re looking to fill, start a solid foundation for potential readers and followers to fall back on once they hear about your property. Use relevant images, graphs, articles, videos and other forms of media to interest potential tenants and share knowledge.
As a landlord or property manager of a rental community, you’re at the forefront of all the going’s on in your community, in the neighbourhood, and with tenants, and you can share all of that on your blog. New articles and videos (that are current and topical) are a great way to stay up-to-date and gives new readers a place to go to dive further into your posts.
Now You’re Ready For Facebook
Here’s the social media rule: Facebook is king. It’s by far the most lucrative network for marketing your rental property. 71% of adults have a Facebook account, which is approximately three times as many people as those who use any of the other social media networks.
Your page can have a standing photo album showcasing the grounds, the neighbourhood, amenities. Also, you can share articles from the community. Maybe the local coffee shop has a Facebook account, you can share their posts and create a real community bond.
Facebook can also allow you to include client testimonials, advertisements and specials, and other information that will help show prospective tenants about your rental.
Flex Your Social Media Muscles
Just because Facebook is king, that doesn’t mean you should overlook alternative social media outlets. Twitter is an excellent platform for asking and answering questions. The setup is perfect for maintaining conversations and building audience reach through information sharing.
Google Plus can also be a great choice for boosting search engine rankings if you have a website or blog. Sharing news, photos, and promotions on there will bring more attention to your blog or website, leading to a more lucrative return later on.
Pinterest and Instagram are both photo and video hubs that let you share high quality images of apartments, amenities, rental community, neighbourhood and happy tenants. You can also use these networks to share relevant information about blog articles.
Images Are Key
High quality photos are an absolute must for marketing your rental property. Not only is adding images to your social posts a failsafe way to catch a reader’s eye, but it’s also the best way to show off the potential of a property. Though you would never want to give the wrong impression of a place through your photos, it doesn’t hurt to show the best parts and to minimize the flaws in your imagery. High-quality, well-edited images can make even the dingiest of places look great, and it’ll at least get people to come back to the property rather than being influenced by a bad image.
Communicate! Or Hire Someone Who Will
Keep your social profiles current by staying engaged in the existing conversations with your tenants. When they ask questions, answer them in a timely manner. When they comment about something they liked or didn’t like about your property or services, don’t ignore them. Take the time to let your followers know that you’re interested in their well-being.
This gives your tenants a glimpse into what it’s like to live under your management. If you’re not willing to take the time to engage with current tenants and prospects on social media, it’ll give the impression that you’re not willing to do so in real life either.
Social media is also a great catalyst for getting people to set foot on your property. One of the bets ways to fill vacancies is to host local events at the rental unit, and social media can make that happen. Advertise the event, and encourage your current and past tenants to spread the word. As long as they event is well publicized and has a great theme and organization to it, you won’t have any problem getting people to attend, and such events are great for your image as a landlord. Plus it gives you content to add throughout your social media channels afterward to further promote your property.
Encourage Tenant Interaction
Make a Facebook page for your current tenants to organize your interactions with them, to send out announcements and reminders, to appear more personable, and to encourage feedback. You can also post photos from recent events — with the tenant’s permission, of course — and build a sense of community among your renters.
This is a great way to keep up constant and steady communication with tenants, and, more importantly, to build up your reputation. When you can keep track of what tenants are saying about you, you can make the necessary changes to improve the problems, and encourage them to spread the word that you’re a great landlord.
Be Tech Savvy
Allowing your tenants to have alternative options to paying their rent is an extremely attractive quality to prospective renters. For example, posting to a public forum that [your building] accepts rent payments online lets prospective renters know how current you are with rising trends.