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As a real estate investor, marketing your rental properties is an important step of the process. However, it has become far too common that rental property listings that are being posted cannot grab the attention of potential renters.
So how do you get people to actually read your listing instead of scrolling past them?
While it can be discouraging to find that the time and money you have spent creating your rental property listings is going to waste, so you need to find a way to make them stand out. Fortunately for you, we have provided a list of four things you can do to create rental property listings that actually stand out.
Before you start writing you property listings, take the time to conduct a cash flow analysis and assess how much you can expect to make from the property. Remember, turnover periods are not subject to rent control, which means you have the ability to increase your profits and returns during this time. To learn how to run a full cash flow analysis, click the link below for a free strategy call today.
Be Clear and Concise in Your Property Listings
First things first, do not make your property listings difficult to read. While investors and experienced renters may easily understand the jargon and abbreviations you are using in your listing, that does not mean they are going to be understood by everyone.
While it can be easy to write out 3+1BR and 2B, there are plenty of people who will not know what you are talking about. Instead take the extra time to write 3+1 bedrooms and 2 bathrooms so that you know everyone can comprehend what you are trying to say. You may even wish to consider explaining what +1 bedrooms means. For many seeing 3+1 bedrooms on a listing makes them think there are simply four bedrooms. However, you know that means there is a den or basement room that can be used as a bedroom but is not technically considered a bedroom.
Keep it Simple
Do not get carried away with writing long essay-like property listings. People will not read them. For the majority of renters there are three things that matter when reading a listing: the price, the size and additional expenses. While you absolutely can and should provide a description of the home and the neighbourhood it is located in, you should make sure you do not go and over-complicate things.
Try to limit yourself to a maximum of 100-150 words when marketing a property. Often you will find that is more than enough to get your point across and attract serious tenants to apply.
Include Professional Photos
Photos are one of the easiest ways to grab someone’s attention. Well-composed and colourful shots draw the eye and make people want to ask questions. So, be sure to use them.
In fact, one of the biggest mistakes that people make when marketing their investment properties is forgetting to include professional photos. People want to see the apartments they are moving into. If someone cannot see themselves in a home, they will almost never apply. If your photos are poorly lit, shot or edited, potential tenants will walk away and refuse to look at the property. Worse yet, if you do not have any photos at all, you may as well not list the property at all because interest will plummet down to virtually zero.
If you cannot provide a good look at the rental property prior to tenants doing a walk through or renting it out, you will look like you are trying to hide something. Regardless of how well you describe the home in the property listings, without a photo you will struggle to make anyone look at the ad.
Instead, try going out and hiring a photographer to walk through and capture photos of the property from its best angles in order to show interested parties the entire home straight away. Make sure these are professionally edited and appealing to the eye. If you cannot afford a photographer, you can take the photos yourself, but try to shoot from wide angles to properly show the size of the property and avoid letting things like furniture overcrowd the shots.
Discover How To Stage A Home With This Step By Step Guide
Do Not Hide the Price
One of the first things that a potential renter is going to look at on your property listings is the price. If someone does not know if they can afford to live somewhere, why would they bother wasting their time looking at the price.
Some people try to make their property listings more visible by writing a lower price on the listing and hiding the real one in the description. This deceptive tactic is typically unsuccessful in making a listing more appealing, but it does successfully make you look untrustworthy and dishonest, two traits that will help turn tenants away from your property.
Keep Your Property Listings Up to Date
Outdated photos are one of the fastest ways to sour the interest someone may have in your investment properties. If it is the middle of June, nobody wants to see photos where your property is covered in ice and snow. Even if the photos are well composed, mistakes like these can make your property look unattractive.
Imagine looking at pictures of a snow-covered rental property across town when it has not snowed in months. Even if those photos are simply from an old vacancy, it makes it look like you have spent half the year struggling to find tenants. This makes it appear that there are problems with the property that has kept people from moving in.
Similarly, if a property has undergone changes that are not reflected in the description it will confuse and deter potential tenants.
If you market a 3-bedroom house, but one of the walls were knocked down between rooms to create a larger room, people will call you out on being incorrect. After all, this property would now have two bedrooms instead of three.
Begin Investing Today
If you are ready to start investing in the world of residential real estate, let us help you. Regardless of whether you are buying new properties or looking to replace an existing mortgage, our team here at LendCity is ready to help you find the best option available for you.