One of the most frustrating things as a property investor is having a great property sitting empty and costing you money the whole time. You have a fantastic home for a good tenant ready and waiting, but why is there no interest?
Unfortunately, you can’t just stick up a “For rent” sign and hope for the best in today’s competitive rental market.
Don’t worry. With the property marketing tips in this blog, the right timing, and a few simple improvements like taking good photos, you can attract quality tenants to your investment property and increase ROI in no time.
1. List your property in January or February
A lot of landlords scratch their heads, asking when it’s the best time to advertise a rental property.
The answer is pretty simple: January and February, without a doubt. Why? This is when tenants make their big life changes, and very often that comes with a change of house.
It might be young families relocating for schools, a young professional moving for work, or someone just looking for a fresh start. Nothing says “New Year, new me” quite like a new home.
Listing your property in January and February helps you benefit from this demand. It’s also a handy way to get ahead of the competition, with other landlords still getting their ducks in a row after Christmas.
But if you’ve missed out on January and February? June to August is your next best bet, with six-month tenancies expiring.
Once you’ve done that, play it smart. Align your lease terms so that they expire in these peak periods, giving you a recurring advantage every year.
2. Present your property well
First impressions count. It should be obvious, but not enough landlords remember to put the effort in when it comes to how their property is presented.
How do you make your rental property more attractive? Follow these simple steps:
- Make sure it’s clean, with no repairs needed, and rooms decluttered.
- Focus on landscaping: mow the lawns, trim the hedges, and tidy the garden.
- Carry out planned renovations or upgrades before you list, whether that’s painting, light fixtures, updated flooring, or a new bathroom.
The benefits of maintaining and renovating your property to a high standard go beyond a good first impression. They also increase the appeal and the rental value of your property in the long term.
3. Invest in good photography
Do professional photos help rent a property faster? In a word, yes.
Tenants start their search online and they’re prepared to be picky. High-quality photos highlight your property’s key features, driving clicks and inquiries.
Where do tenants look first? The kitchen, bathroom, and bedrooms. An appealing exterior shot also makes a big difference. It’s usually the first photo on the listing, so it can be a make-or-break moment when tenants glance over and decide whether to click through.
Don’t be put off by the cost of bringing in a professional. The tools, skills, and experience of a full-time photographer can pay you back several times over by presenting your property in the best light and attracting high-quality tenants.
Struggling for budget? It’s not the same as hiring a professional, but consider using a smartphone photography guide, with a modern smartphone and good lighting to capture well-lit, staged images.
4. Know your market inside out
If you’re asking yourself how to get the right tenants for your rental property, the first thing is to know your market and to identify who the right tenants actually are.
Yes, you want a tenant who will look after your property with the same care and attention as they would their own. But how do you reach them?
Next, speak to your leasing agent. The background, profession, and age-profile of your ideal tenant will vary by area and by property type. It’s no use trying to rent your 4-bedroom family home out to a young professional. Ask your agent about the local market, the trends, and the demand. These are your key questions:
- Who are you appealing to and what do they want?
- What are they prepared to pay for it?
- How do you speak to them?
Depending on who they are, you might need to target different websites or social media apps to promote your property. In the same way, you might want to highlight different features. If your target market is young families, that might mean schools. If it’s commuters, it might be local transport links.
But whether it’s nightclubs or after-school clubs, it all starts with doing your research.
Common Marketing Mistakes Property Investors Should Avoid
We’ve covered the things you need to get right. But where can it all go wrong? Here are some common mistakes to avoid:
- Overpricing your property: Overinflated prices lead to longer vacancy periods and tenant disinterest. Remember, they’re often filtering their search results by price, so your ideal tenant may never even look at your listing.
- Poor presentation: Still got those paint pots out? Using the spare bedroom to store your Halloween decorations? A cluttered, unclean property can deter quality tenants. Get tidying.
- Inadequate photos or descriptions: Blurry photos and vague descriptions like “close to amenities” don’t give prospective tenants the specific information they need, leaving them disengaged and looking elsewhere.
- Ignoring the target market: Descriptions showing off how close your one-bedroom, bachelor pad apartment is to the local school aren’t going to help. Mismatched messaging or pricing give you mismatched tenants.
In short, show the right property in the best light to the best tenants in the right way.
Benefits of Partnering with a Property Manager or Leasing Agent
If property investing is something that you do on the side, if you have a large portfolio, or if you just find marketing your property difficult, partnering with a property manager or leasing agent could be the best way forward.
Professional managers or agents will have a good notion of what your property can achieve in rental income. They understand the market and they know exactly where and how to advertise to your target tenants. They can help with managing and analysing:
- Online property listings
- Professional photography
- Organic and paid social media advertising
- Video walkthroughs
- SEO-friendly descriptions to ensure higher rankings
The benefits go beyond marketing as well. Managers and agents can screen your tenants, helping you reduce risk to your property and income. They can also advise you on how to draw up policies and agreements that attract more tenants, like pet-friendly policies.
All this adds up to more interest and reduced vacancy rates.
How to Measure the Success of Your Rental Marketing Efforts
It’s one thing to feel as though you’ve been doing the right thing, it’s another thing entirely to know that it’s working. Where should you start?
- Track metrics: Use the analytics on property listing sites and social media to monitor clicks, inquiries, and applications for your listings.
- Benchmark vacancy rates: Compare how long your property takes to rent versus local averages. Consult your leasing agent for help if needed.
- Adjust strategies: If your listing underperforms, use the data to understand why and tweak pricing, photos, or descriptions to optimize results.
Remember to be discerning with your data. If you change everything whenever a listing underperforms, you might inadvertently change the things that were working. If you don’t show up in search results, that’s a different problem to having lots of views and no inquiries. Ultimately, you’ll probably need to experiment to find a formula that works.
Marketing your property might feel like a drag, but in today’s competitive market it’s a necessity. With the right planning and a proactive approach, you can make sure your property achieves its maximum potential.
FAQs
What does it mean to market a rental property effectively?
Effective marketing for a rental property involves attracting quality tenants quickly and minimising vacancy periods. This includes showcasing your property through compelling listings, professional photos, and detailed descriptions, as well as using the right platforms to reach your target audience.
What are the key features tenants look for in rental property listings?
Tenants typically look for clear details about rent, property size, location, and included amenities. High-quality photos, virtual tours, and descriptions highlighting unique features—like updated appliances or proximity to transportation—can make your listing stand out. It's important to include details about pet policies and lease terms.
Where should I advertise my rental property to reach Australian tenants?
Popular platforms like realestate.com.au and Domain are widely used by Australian renters. Social media groups and local community networks can also help reach a broader audience. For areas with a strong student population, advertising on university noticeboards or websites can be effective.
How important is pricing in marketing a rental property?
Pricing is critical. Set a competitive price by researching similar properties in your area. Overpricing can drive away prospective tenants, while underpricing may hurt your returns. Highlight any features or benefits that justify your rate, such as included utilities or recent renovations, to add perceived value.
