In 2022, the national average vacancy rate was 5.6%. Although there are plenty of potential tenants out there, many properties stay empty for longer than necessary.
To ensure that your rental properties stay full, you need to understand property marketing. Using marketing techniques and strategies can help you find tenants more easily and ensure that properties aren't vacant for long.
Here are five property marketing tips you need to use as a real estate investor.
1. Build a Web Presence
When marketing a property, you need to be sure to start with a solid web presence.
Creating social media pages and launching a professional website for your business can be useful. Doing so can help you find tenants and ensure that your properties can get discovered by those who are looking for them.
Also, use digital marketing techniques such as search engine optimization (SEO) and pay-per-click (PPC) advertising as well. This will help your website get even more traction online.
2. Use Referral Marketing
One of the best sources of new tenants will be your current tenants. Be sure to put some effort into referral marketing and word-of-mouth marketing if you want to find quality tenants in an effective way.
Communicate with your tenants and let them know when you're looking for more tenants. You may want to boost your efforts by offering an incentive such as a small discount on rent or another bonus when they refer someone to you.
3. Upgrade Your Rental Sign
Remember that although much of real estate marketing is done online these days, offline methods can still work well.
Be sure to put up signs around your rental home or property if you want to find tenants for it. Posting a basic "For Rent" sign can be helpful but don't be afraid to take things a bit further either. Posting a sign that's a bit larger or flashier than a typical rental sign can be well worth it.
4. Optimize Your Listings
If you want to find tenants for your property, you should make sure to pay special attention to any online listings you create. Be sure to include all of the information that a tenant would be interested in.
On top of this, be sure to add professional photos as well. Media such as photos, videos, and virtual tours can do a great job of getting more attention and can help make it easier to find a tenant.
5. Hire a Property Management Company
To have the easiest time of marketing your property, getting tenants, and managing the ins and outs of your rental property, you should hire a property management company. A property manager can help find and screen tenants, market the property, handle property maintenance and collect rent.
Hiring a property management company allows you to take a hands-free approach and will make real estate investment much easier overall.
Making the Most of These Property Marketing Tips
To make money on your real estate investments, be sure to keep these property marketing tips in mind. Building a web presence, using referral marketing, and improving your listings can help you find great tenants.
Need help with property management in Atlanta, GA? Contact us today to learn more about what we can do for you.
