Are you struggling to attract a wide pool of potential tenants? You’ve created online rental listings, but just don’t seem to be getting a lot of hits. You may be making marketing mistakes without even realizing it.
The way you craft your advertisement and the images you choose to use in your property advertisement can say a lot to your prospective renters about who you are as a landlord. Keep reading to learn about common errors people make when leasing rental properties and how to avoid them.
Mistake #1: Following the Crowd
Repeating what other people are doing might be tempting but it can actually be a bad idea. You are unlikely to reach your business goals by copy-pasting and sending out a few boilerplate emails.
No two audiences or marketing strategies are alike. Following the trends and advertising your properties in the same ways as everyone else can be a waste of time and money. You want to make sure you’re focusing your efforts on platforms and tactics that match up with your target customers.
Consider the types of properties you’re advertising, the demographics you want to impress, and the city and neighborhood your properties are located in.
You'll have a more successful approach if you spend some time considering where you should devote your work and attention, as well as what kinds of information and promotional items are required to connect with your target market.
Mistake #2: Using Too Many Tools
It can be easy for the number of tools or marketing solutions you’re using to get out of hand. This not only makes your life more difficult and time-consuming, but it also results in numerous isolated data silos.
Instead of trying to use every option on the market, focus on using a comprehensive real estate marketing tool. One of the major advantages of a full-service marketing platform is that it provides a variety of tools under one roof to simplify and improve your processes.
Mistake #3: Having a Weak Marketing Strategy
It's possible that you've taken some great photos and placed your rental property on a few real estate listing websites. However, you won't get amazing results if you don't put an efficient promotion strategy in place.
You must come up with a consistent, multi-channel marketing strategy if you want to increase visibility and generate quality traffic for your property listing. Effective campaigns leverage various mediums, including property portals, emails, social media platforms, SEO, sponsored ads, and one-on-one engagement.
You need a strategy that fully captures your objectives. Without goals, marketing is similar to making a capital investment where the likelihood is that you will lose money.
Your strategy must contain the following crucial components:
- A thorough comprehension of your intended audience.
- A list of the precise strategic objectives you want to pursue.
- The justifications for your plan and the anticipated return on investment.
- The precise figures you'll use as scorecards.
Your marketing efforts might fail if you’re forgetting about one of these factors. When you put a lot of time into marketing a property, you want to make sure your strategies work.
Mistake #4: Having Weak Content
As a starting point, you need to make sure that you have great images of your rental, a strong property description, and overall high-quality content when it comes to marketing a rental property. Interest can be diminished by weak content that does a poor job of portraying the property and its amenities.
For various reasons, written content significantly affects conversion rates. Just consider how much information even a brief description of your property conveys. At the very least, include:
- The property’s location and distance from local points of interest.
- An accurate depiction of available space.
- The advantages that specific amenities give the property.
- A clear breakdown of the cost of rent and any additional charges.
Mistake #5: Lacking Teamwork
It takes a team to successfully advertise a property. Individual marketers rarely have as much success as groups that are all actively advertising the listing together. The priority is to ensure that the people working on marketing are coordinated and that there are protocols in place to make it simple for team members to contribute.
Mistake #6: Using Bad Photos
One of the most important parts of marketing your rental property is using high-quality photos.
A good photo can accomplish a lot of things. It involves your audience, highlights the property, draws attention to key amenities, and allows your potential tenants to imagine themselves living in the property.
You don’t have to hire a professional to get quality images of your property (although it’s never a bad idea). With some nice lighting and a decent smartphone camera, you can capture your rental property well enough to generate some interest.
Mistake #7: Overlooking Calls-to-Action
You want to make sure your property listing has powerful, strategic, and effective calls to action. People must clearly understand where to go next in order to take advantage of your offer.
Make sure you clearly provide contact information, details about in-person showings, and any other information that would make it easy for a prospective applicant to get ahold of you if they’re interested in the property.
Make the Smart Marketing Decision: Hire a Property Management Company
Make sure your home is ready for viewings before posting your ad and make sure your ad emphasizes how well you know the area. Update your advertisement frequently with fresh content and images. A marketing synopsis and title may be useful. Consider putting up flyers around the area.
If you’re struggling to get the results you want from your marketing efforts, it’s not because of a lack of drive or ambition. You might be overlooking a few key steps in the planning process or overextending yourself and trying to manage it all on your own.
That is why it is so crucial to carefully invest your time and money in order to develop an actionable plan based on the particular demographic you are aiming for.
Self-management is difficult! And advertising your property is just one piece of the puzzle. Rather than stressing, get help from a professional property management company.
You can rely on Evolve Nevada to effectively market your rental and fill vacancies quickly. We are familiar with Reno real estate and rental markets, and we’ll use that knowledge to your advantage.