After all the research, negotiations, paperwork, and renovations, your rental property is finally ready to go on the market. If you’re going to get your vacancy filled quickly, you’ll need to create an advertisement for local newspapers, social media, and rental databases.
The competition right now is fierce and what you say matters!
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Although your rental property might be a tenant’s dream, a poorly crafted ad could deter interested parties. Therefore, your ads should be well thought out and targeted to attract your ideal tenant.
I have lived in more than a dozen apartments and a few rental homes and have friends that rent their beach and mountain homes here in North Carolina so I used my own experience and that of others to curate these suggestions on what to include in your rental property ad.
Rental Property Type
You should first point out the type of rental property you own. Is it a single or multi-family residence, a condominium, or a complex?
Room Count And Dimensions
List the number and types of rooms in the rental unit along with measurements so renters know how much space is available. Be honest!
If you want to attract new tenants, you must highlight the renovations you’ve done on the rental property. Whether you’ve installed hardwood floors and carpets or renovated the kitchen and bathroom, these features will stand out to tenants that want a safe and modernized place to live.
Community And In-Unit Amenities
This is where the rubber meets the road and has made my decisions for me in the past!
What are some of the perks that might attract tenants to your rental property? You want to ensure that you include these in your advertisement. Some community amenities might consist of recreational areas, laundry facilities, swimming pools, fitness centers, media rooms, dog parks, secured parking, and a parcel room for mail and oversized packages (so important these days especially if you get a lot of Amazon packages! If there isn't one you risk theft).
In-unit amenities might include a washer, dryer, air conditioning, energy-efficient appliances, high-speed internet, balconies, patios, fireplaces, and whirlpool tubs.
Rental Rates And Policies
While you don’t want your advertisement to drag on, it’s important to include certain details like the rental rate, security deposit, and the application process. You should also include strict policies like no pets as this could be an essential determining factor for renters.
Where a person decides to live is about more than just the rental property. They want a place that encompasses everything they need to sustain a decent life. You can help paint a picture of what it might be like to live in the area. Provide details about crime rates, school systems, job availability, public transportation, and nearby businesses and entertainment sources.
For example, suppose you’re trying to attract families. In that case, you could point out that the neighborhood is safe, the school system ranking, and family-friendly activities held in the community like fairs, festivals, outdoor concerts, and more.
Conversely, I know it is hard, but be honest about what people might not like and let them decide for themselves. It will head off problems that you will likely have if you don't! For example, when we lived in Berkeley, there was a brand new (and beautiful) apartment complex one street over and built next to railroad tracks. The building owners told potential renters that the train didn't run between 10 pm and 6 am which wasn't true!
Also recently in downtown Raleigh where there are plenty of apartment buildings I actually stayed in a hotel in the area. One night there was a concert at the amphitheater the next block over and I could hear it in my room until very late that night! Some renters might love the access to the concert park, others, no thank you!
Pictures Are Worth A Thousand Words
Your rental property advertisement should include pictures to attract new tenants. You can use your smartphone or a digital camera to take photographs of the rooms, outdoor living spaces, and common areas. Ensure you get images from various angles so tenants can visualize the rental property before scheduling a tour. It will ultimately save you and the tenant a lot of time.
Speaking of tours, recording and uploading a virtual tour of your rental property can increase your chances of attracting tenants. As you walk through each room, describe the space as if you were showing the property to a tenant in person.
If you have a higher-end property invest in a photographer to have professional photos or videos taken!
Incorporating tenant reviews can go a long way when placing rental property ads on social media or rent databases. If you have a multi-unit property or apartment complex, ask your existing tenants to provide a review of what it’s like to live in the unit and the relationship between tenants and property managers.
There’s a lot of money to be made with rental properties. However, it doesn’t come without hard work and dedication. Once you’ve handled things on the back end, you’ll need to present your rental property to the market.
If you’re going to beat out the competition and attract the right tenants, it’s imperative that you draft a compelling advertisement. The tips above can help you increase your chances of filling your vacancy quickly.
How about you? Do you have a rental property and have additional tips? Are you a renter and have your own tips? Do share!
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