When advertising vacancies in 2023, you should consider the best marketing strategy for your rental business. You should be prepared to market your listings on multiple online platforms, including the best rental listing sites, to generate more leads.
Gone are the days when word-of-mouth was the only way to draw attention to your listings, and offline advertising tools have become the most labor-intensive way to inform potential tenants about vacancies. There are more efficient strategies to find the right tenants for your rentals and avoid extra costs. In the era of SaaS, finding renters is simpler than ever. Landlords and property managers can quickly and easily get their rental property listing in front of thousands of potential tenants by combining conventional rental property promotion with contemporary online marketing.
We look at some of the most effective and efficient methods you may use to market your rental property and cut down on related expenses. Here are five steps you should take to fill a vacancy faster:
1. Get a personalized listing website.
If you’re a TenantCloud user, creating a personal listing website won’t take a lot of time but will bring you tons of perks. Setting up a free custom website allows you to show your vacant properties to potential renters at no cost. It’s possible to build a solid portfolio with all the properties available for rent, add property images to the gallery, and customize rental applications for the prospects to apply right from your website.
With the Leads Tracking Tool, you can view all prospective tenants, and premium leads via your TenantCloud account; thorough analysis and tenant screening choose the right candidate for your property.
2. Select the best websites for rental property advertising.
External listing websites are great services to increase traffic to your landlord's website. The option to syndicate listings from a single management platform some property management systems offer makes it possible to reach your target audience in a few clicks without spending half of your marketing budget on tenant hunting.
However, if you do not use any rental management tools, listing services such as Hotpads, Trulia, Craigslist, Rentler, Facebook Marketplace, and others can be viable options. Keep in mind that your listings must meet the platform's requirements, and you may be required to pay listing fees on a weekly or monthly basis.
3. Upload high-quality pictures and add accurate descriptions.
Regardless of your approach, there’s one rule even more relevant in the digital era: the better property images, the more likely you’ll fill the vacancy. That doesn’t necessarily mean that your rental has to be the best one in the neighborhood. It’s about the way to present it to your potential renters. You may even want to hire a professional photographer who can get the right angles and focus on the best parts of your property.
In addition, use a catchy description and add detailed information for your rental listing with the correct price. This will not only save you time but also help you create a positive and professional first impression.
4. Don't underestimate the power of social media.
In addition to the major rental listing websites, social media is an effective way to advertise your rental property to your community and potential tenants. Try posting a virtual tour of your home on YouTube, uploading a well-designed listing to Facebook Marketplace, or posting beautiful photos of your home on Instagram. Instagram, Twitter, and even TikTok provide unique ways to showcase a property.
5. Provide an outstanding tenant experience.
Providing a positive rental experience for your tenants is a long-term strategy for marketing your home — and even yourself as a landlord. When a renter vacates, they can refer you to other tenants in their network or recommend a new tenant.
Allowing tenants to pay their rent online, providing a simple method for submitting maintenance requests and promptly attending to all repairs, and being generally accessible, respectful, and communicative with all tenants are just a few examples of how to provide exceptional rental experiences.
Knowing how to advertise a rental property is the best way to fill it with trustworthy tenants while avoiding wasting money on ineffective marketing strategies. Analyzing your target market and recognizing the benefits your rental properties provide will assist you in focusing your marketing efforts on the right demographics, generating significant passive income, and extending the life of your investments.
We asked our users how they planned to change or improve their rental listing advertising strategies. Here's what we discovered: