Over 30% of Americans rented property in the United States in 2019. Marketing your property the right way is a big part of owning property for rentals, but it's not always that easy.
So what are some effective ways to market your property? What do most people do and what are the benefits of each marketing strategy?
That's what we're here to look at today. Read on to learn more about the different types of marketing and why you should consider them.
For Rent Advertisements
One of the most well-known ways to advertise rental properties is through a "for rent" sign that gets posted outside of the property itself.
While this may seem antiquated, it still works to some extent. It'll catch the eyes of those passing by, and could turn some heads for people who are familiar with the area.
That said, it might not be viable for every property. Only properties with grass lawns will be able to post up signs, and there might not be space to put up a sign at all. It's still a cheaper way of getting people's attention.
With the advent of online listings, property owners are finding it easier to get prospective tenants through internet posting sites. There are plenty of free sites that'll get the word out without having to spend a dime.
This would be sites like Facebook Marketplace and Craigslist. If you want to save money while finding good ways to market your property, these are great options.
You can also advertise your property through paid sites. Zillow and Trulia have great tools for getting your property on the map, and thousands of people use those sites to look for rentals every day.
Word of Mouth
If you already have a few tenants in your current property, a good way to entice more rentals is through word of mouth. Let your current tenants know that spaces are opening up and that referrals are available.
There's also social media to get the word out. You aren't constrained to just listing sites, as engaging with followers or hitting people up is just as effective in getting people to look at your property.
Other Alternative Methods
Things like flyers, open houses, and building your own website are also viable options if you want to look at alternative ways to market your property.
Rental property marketing comes with a sense of professionalism, and building your own website is a good way to boost your credibility. Get a functional and good-looking site to entice people to rent your property!
Flyers and open houses are also great for both getting people's attention and letting them see the lay of the land. If people see the property itself and are intrigued, you increase your chances of potential tenants.
Property Management Companies
Another option is a property management company for marketing services. They know the ins and outs of marketing people's property and will use different strategies to get the right type of eyes on your rental property.
This is huge if you want a team of professionals engaging the kind of tenants you're looking for. If this sounds like a viable option, consider investing in property management companies.
Understanding Ways to Market Your Property
There are many different ways to market your property, but finding the right strategy is what counts the most. Use this guide to help you understand the different methods and incorporate them into your strategy today!
Are you looking for reliable property management services in Gresham and Portland? Contact us today and we'll get you started on a solution right away!