As a landlord, you may have numerous properties that you manage or only one room that you rent out. Regardless of the number of spaces you need to fill, every landlord can agree that an empty space does not pay the bills and wears on their minds until occupied once again. Exactly how can you ensure that your properties remain filled with happy tenants? Here you will find four helpful tips to market your rental listings to prospective customers that will ensure you make the most of your properties.
Never underestimate the power of spreading ideas via word of mouth. Letting your own tenants advertise for you to their friends and family is not only a free method, it is often times the most effective for finding quality renters who will get along with other tenants you already have. This is especially true for landlords who keep their customers happy and renewing for long periods of time as their recommendations can work far more powerfully than any paid listings to the right people. You may also consider a bonus program for referrals such as discounts or gift cards as incentives.
Continuing on from word of mouth, one of the first places you should build a presence on social media. Accounts on Twitter and Facebook create a lasting impression that fosters trust and lets prospective tenants know the status of your properties’ availabilities year-round. Free listings can also ensure that the right renters are viewing your listings to fill those empty spaces as quickly as possible.
While it may seem like a no-brainer, it is worth mentioning that a “For Rent” sign in your property’s window can draw in foot traffic. It may not be as far-reaching as the other methods in this list, but it has the added benefit of drawing in the people who are already in the area who may be looking to stay local. If that isn’t enough, don’t forget that this method is also free!
Property Management Offices
Larger real estate companies often times encourage rental referrals for a fee that can get your space noticed by those looking into larger, more advertised places. Not only that, property management specialists can help get you listings in the appropriate areas. Sites such as KeyrenterSalt Lake.com are excellent resources for new landlords to get advice and ensure their properties are not vacant for long.
If you can implement these marketing strategies into your own unique ideas, you are guaranteed to fill any empty slots you have in your rental spaces. Remember, none of these is a sure-fire way on their own. Each is most effective in combination with the others. Find a set of methods that works best for you, and let the profits begging to flow steadily in.