Good exposure increases the number of prospective tenants, which increases the chance of securing the best tenant in the shortest possible time. Whilst it may seem obvious at first, the BEST place to advertise any rental property is to put it where most tenants search.
Therefore, it is not surprising that over the past 20 years, internet marketing has become the number one source of tenants (by a country mile)! When I started in Property Management, no one ever advertised rental properties, tenants literally walked in the door.
How different the situation is today, with more people discovering the benefits of investing in property, along with the impact of the world changing internet. It is worth noting that whilst virtually every landlord in the 21st century knows that their rental property should be listed on the internet, some landlords fail to make the most of this medium and use it to their advantage. This can occur when they fail to use the best and brightest images possible, or through the use of poorly written text which doesn’t highlight the most attractive features.
Landlords can also fall into the trap of not utilising ‘stand out’ advertising products. The small investment in ‘bumping’ ads to the top will pay dividends by reducing vacancy. Page 1 is always the page you want to be on. In a sea of advertised properties, the strongest ads on the first pages will be viewed by more potential tenants. It is important to have great photos and text positioned as close to the top as possible in order to grab the attention and interest of browsers quickly, so that they click through for further information. Another factor that is overlooked by some landlords is the power of good signboard exposure. This marketing tool can be a great way to capture the attention of people who are already living, working or commuting in the area – a very cost effective way of making the most of a good location 24 hours a day.
Some tenants don’t even feel the urge to move until their attention is drawn to a property with a better location…it can start them thinking and end up in a new tenancy!
Perhaps the most vital ingredient in a marketing tool kit is the advice of someone who knows the market, what (and how) tenants are searching, and what they want in a rental property, so if you'd like advice about your investment property or portfolio, talk to Barry Plant today.