Landlords don’t use marketing as much as they should. It’s easy to assume that your properties will be filled because people need somewhere to live. While this is partially true, a lack of marketing can mean you’re getting less out of your investment.
In this guide, we’ll explain why it’s important to market your properties and how to do it. The results will lead to much happier landlords with a greater return on your investments!
Why Do Landlords Need Property Marketing?
Without proper marketing, how will you drive potential tenants to your properties? Sticking a “for rent” sign outside your flat/house will only go so far. You need to drive as much attention to your property as possible because this creates more competition.
Competition for a tenancy is good as it gives you more bargaining power. You’re able to charge a bit more for rent if your home is a sought-after place to live. Therefore, you’re earning more money than you would’ve without a good marketing strategy.
Furthermore, a killer marketing strategy helps to reduce empty periods in your properties. When one tenant moves out, you can get another one in before the end of the month. It’ll mean you don’t go through long periods where the property is vacant and no money comes in.
To sum things up, a solid property marketing strategy will:
- Increase rental prices and make more money
- Attract more tenants and decrease vacant property times
6 Steps To Create A Winning Property Marketing Strategy
Considering everything we just touched upon, what can you do to give your property the edge? How do you create and improve a property marketing strategy?
Generally, these are the main things to focus on when marketing a rental property to tenants:
- List your property on popular sites
- Take out some online ads
- Upload the best photos and videos
- Use social media as a promotional tool
- Use eye-catching & interactive signage
- Work on exterior curb appeal
List your property on popular sites
The majority of renters will look for properties on the internet. This is the fastest and most convenient way of seeing what’s available in a certain area. As such, you need to ensure your properties are listed on as many popular websites as possible. This will mean your listings are seen by the widest audience imaginable, boosting the chances of getting enquiries.
As noted by Griffin Property Co, the top three UK property websites are:
It is well worth getting listings on all three of these sites. Others do exist, but the majority of the UK population will use either of these three to start their rental property search.
There is one caveat here – if you’re renting property to student tenants, you’ll benefit from also listing your assets on student-focused sites. A quick Google search will tell you where to go for this.
Take out some online ads
As mentioned above, search engines and the internet are the main way people find properties for rent. You’ve got a great opportunity to tap into this audience and display your property listings to even more people – including those that aren’t actively looking at property listing sites.
The secret is using online ads. They come in many forms, but you’re mainly interested in the following:
- Search engine ads
- Display ads
- Social media ads
Search engine ads are displayed via search engines when people are looking for things. They search for “properties to rent” in their area and your listing appears as one of the first things they see. It boosts the chances of clicks, driving traffic to your listings and creating more competition.
Display ads and social media ads are similar – they appear on other web pages. When someone is browsing a completely different website, but their search history suggests they’re interested in finding properties or they live near your area, they may see your ads. Display ads are shown all over the web while social media ads are only on specific social media channels.
Think of them as a digital version of the signpost outside the property, showing lots of people that it is up for rent.
Upload the best photos and videos
The ideas above are effective at making people aware that your property exists. However, they’re borderline pointless if it doesn’t look like a very attractive property to rent. You must focus on showcasing the beauty of your property through photos and videos.
Bring in a professional property photographer and work with a proper video production company. The photographer helps you frame every room in your property and take the best photos possible. It’ll make the space seem bigger and way more attractive, piquing people’s interest.
The production company helps you create amazing videos going through the property, showcasing every room in more detail. You can place them on your property listings or elsewhere and it delivers more insight into what renters are getting. The more visuals there are, the higher chance there is of people enquiring.
Use social media as a promotional tool
We touched on social media for advertising earlier, but you can also use it to promote your properties. Set up a page dedicated to your properties or work with an estate agency to post some of the photos and videos on socials.
The benefit of this is you tap into a wider audience and can use hashtags to find more potential tenants. Thus, competition rises up and you can afford to list the property for a higher rental price.
Use eye-catching & interactive signage
Towards the beginning of this post, we mentioned the concept of “for rent” signs. On their own, they’re not the best marketing tool. When combined with everything else, they will help you get a boost and gain more exposure.
But, you can take your signage one step further by making it more eye-catching and interactive. Of course, the sign design largely depends on who you’re renting the property through. If you’re using an estate agent, you may have to settle for their sign design.
That doesn’t matter too much – you can still go the extra mile with a QR code. Get the estate agent to make a QR code that links directly to the property listing. People will walk past, see the sign and notice the code. It intrigues them, so they might scan it to see what the property looks like. This simple idea may generate way more enquiries than you ever realised. Normally, you walk past a house/flat, see it’s up for rent and try to remember to Google it after. This way, you can instantly see what the interior looks like, which may encourage you to make an enquiry.
Work on exterior curb appeal
Finally, one of the best ways to drive interest in your property is by improving the exterior curb appeal. This is easier to do when you’re renting houses as you have full control over the outside of the building. Make it as attractive and clean as possible, so it stands out and grabs people’s interest. The same can be done with some flats – you have to make them look as nice as possible from the outside.
Why is this important? Because people are less likely to enquire about a property if it looks bad when they walk by. They see your sign, and they notice the QR code, but they’re not interested in scanning it because the house looks old or run down. If it looks modern, clean and impressive, you’re going to generate more leads.
Start Generating More Interest In Your Properties Today
The tips and tricks in the marketing guide above will help you generate more interest in your rental properties. As you’ve noticed, we tackled two types of tenants: ones that search for things online and ones that see properties in the real world. Targeting both options ensures that everyone who might be interested in renting your property will see it.
Consequently, you will see the benefits we mentioned before. Instead of struggling to find one person interested in your property, you get dozens of enquiries. It makes your place a hot property in the local area, so you can afford to ask for a higher rental price without feeling guilty. If the prospective tenants know there are loads of other interested parties, they might even submit bids for even higher rental prices just to secure the home.
Of course, there is one final thing to keep in mind throughout all of this. Your marketing strategy only works when the property itself is excellent. Things must be in perfect condition and you need to really sell the benefits of living in your home. You could have the best property marketing strategy in the world with amazing photos/videos, but if people visit it and it doesn’t live up to what’s promised, they won’t be interested in living there. Work on renovating or maintaining your property first, and then progress to developing a killer marketing strategy to increase enquiries and make more money.
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