Property marketing can cost you up to 10% of your rental income. If you're spending hard-earned cash on marketing, you want to be sure you'll see a good return on investment.
Learning how to be effective at property marketing will lead to more real estate leads. Plus, you will also enjoy fewer vacancies and greater profits.
This blog provides you with effective marketing tips to boost your bookings. Whether you want to find tenants for the long or short term, this advice will work for you!
Know Your Ideal Tenant
Before starting your property marketing campaign, you need to define your perfect tenant. Consider different factors when making your decision, such as income, lifestyle, and age.
By having this target audience in mind, you can tailor your marketing more closely. You will be able to improve SEO to help get more clicks through search engines.
Do this by integrating relevant keywords into your property listing or website. You can even add them to social media captions.
The keywords will vary depending on your target demographic. So do some research to see the trends and topics that your audience is searching for.
If you need support figuring out your ideal tenant, working with a property manager is a great option. They are experts in the local real estate market, so can advise you on trends and demographics.
Grow an Appealing Online Presence
Having an online presence has now become essential if you want to succeed in the rental business. This may be through social media or other online housing platforms.
But, due to the high volume of online listings, you need to stand out if you want to reach your target market.
Giving your property listing a facelift is key to getting noticed. This involves investing in high-quality property photography or videography.
Virtual tours are becoming more popular for those who are moving long distances. They offer a chance to view the property and get a feel for the atmosphere without the hassle of traveling.
Update the property's description to cater to your ideal tenant. Highlight interesting characteristics of the property that might be important to them.
These could be things like a high-spec kitchen or quirky architecture. You can also include useful information about the local area.
Competitive Pricing Strategy
Research local housing prices so that you can set your prices in line with the local market. Look at the features and amenities that your property offers, which may bolster the price you can ask for.
If you set the bar too low, then you won't meet the property's investment potential and will lose money over time. But, if you ask too much, then this will blunt a lot of potential interest.
Master Property Marketing
Attracting tenants is a combination of strong advertising, and understanding your target audience. Try and be analytical of your results when doing property marketing. This allows you to develop a flexible strategy over time if things don't work.
At PMI Best Assets we are experts in real estate marketing, as well as property and tenant management. We are proud that our portfolio shows a range of successful real estate projects.
Contact us today to schedule a free consultation with one of our friendly team members. We look forward to helping you grow your rental business income!