Being a landlord comes with many benefits, especially when you have responsible tenants. It is ideal to lease to someone who consistently pays rent on-time, takes care of the property and follows the rules of the neighborhood. But, how do you find this person?
While traditional advertising methods, such as placing an ad in the newspaper, can still be effective in getting the word out about your rental property, utilizing digital marketing strategies can be a great way to attract additional potential tenants. According to a 2012 joint study from The National Association of Realtors and Google, 100 percent of real estate consumers use the Internet to search for homes and the benefit of digital is that you can reach this larger market faster.
Whether you manage a large apartment complex or are just an accidental landlord looking to lease out a house, here are a few tactics that can help you get your information out to the right kind of renter.
A common way to advertise a rental property is to take out ads on rental websites. According to Inman News, millions of people search sites like Apartments.com and ApartmentRatings.com to find places to rent, so putting up a listing on one of these websites is an easy way to reach those who might already be looking for a rental property like yours.
Having an online home that ties together all of your marketing efforts can simplify the process of finding a tenant. It’s fairly easy to create a small website nowadays with tools like Zillow’s RentalPro or other content management systems. By having a landlord website, or even a few web pages with all of your property information and leasing requirements, you give potential tenants a quick and convenient way to check out your offerings and see if they would qualify to rent from you.
Consider including the following information on a basic landlord website:
Once you have a website, you need to find ways to tell people about it. If you don’t create a website, you need to find other ways to get the information out there and promote your listing. Social media platforms – such as Facebook, Twitter, Pinterest and LinkedIn – can be a great tool for both situations.
For example, you can create a Facebook page that includes all of the property information, pictures and a way to contact you. This can link back to your website or be your main online presence. Send out the link for your website or Facebook page to all of your followers and friends on each of your social media accounts and ask them to share with anyone they know who might be looking for a place to rent.
Another great way to get people to your website is by using digital ads. Google ads, for example, display when people perform certain searches, allowing you to target users who are relevant to your renter needs. For example, if a user searches for “rental home in Phoenix” and you have your campaign set to target those words, your ad could appear on the search results page. While paid media does come with a cost, you can set a daily budget so you are in control of how much you spend.
By using these simple digital tactics, you can effectively market your rental property for little-to-no cost. But keep in mind – once you have a variety of applicants to choose from, screen them appropriately to make sure you are getting tenants you are comfortable renting to.