Marketing tips for your rental property
07 November 2019
Marketing your rental property is one of those times when you really need to ‘step up to the plate’ as a landlord and make sure you get the most out of your investment property. Just putting a ‘For Rent’ sign up won't cut it in today’s increasingly competitive market. So here are our suggestions to help you up your marketing game!
Invest in good photography.
We've said it before, but we will say it again… first impression count!
Professional photos highlight the best features of your property and make them the focus of your listing. Bedrooms, kitchens and bathrooms are areas that are of particular interest to tenants. Make sure you have an exterior shot as this could be a make or break decision to click through on a listing for a potential tenant.
This is one of those scenarios where it does pay to bring in a professional. The benefits of working with a photographer are they will know precisely how to present and frame-up photos to show a property in its best possible light.
Be strategic about the time to list your property.
It is essential to know which time of the year is optimal for obtaining a tenancy, especially if you are listing your rental for this first time.
January and February are, without a doubt, the most optimal time to advertise your rental property as demand significantly increases during this time of year. This is because of the ‘new year; new you’ vibe and people looking for a fresh start to the year.
If you miss out on listing your property earlier in the year, June to August is also a great time to get that property out in the market. Six-month tenancy leases expire, making this another peak period for advertising. It's a simple supply and demand situation.
Know your audience.
'The most important thing to remember is you must know your audience' - Lewis HowesMarketing 101; know your audience. Understand who you're appealing to and what do they want? What are they prepared to pay for it? How do you speak to them? Ask your agent about the type of tenants moving into the area to make sure you’re up to date with your target market. Attracting the right prospective tenant should be approached in much the same way you'd sell your property to a potential buyer.
Write a compelling and honest property description.
It's important to find the balance between too little and too much information.
Too little information frustrates prospective tenants and gives the impression that you have something to hide.
Excessively long property descriptions can be just as damaging. We've all read advertisements that are filled with pointless adjectives. Be concise and practical. Also, it is not necessary to describe in words things that can be seen in the photographs.
Tips for writing a property description;
- keep the length between 150 and 200 words
- use bullet points to list features over lengthy paragraphs
- use the title to give a clear summary of the property, e.g. 'Family home close to local primary school'
- make sure you include the address
- explain positive features about the locality, such as; proximity to shops, schools and public transport
- always make a clear statement about pets
Remember attracting the best tenants starts with getting their attention in the first place.
At FutureRent, we understand that marketing your rental property requires an investment of both time and money, that's why we have created a product exactly for this situation. With Future Rent's ForRent product (www.futurerent.com.au/forrent), you can give yourself (and your bank balance!) a little breathing space. Have the funds you need to find the best tenant and freshen up the place so you can get the most out of your investment property.