Are you planning to rent out your property? To generate tenant interest, it is essential that you curate an effective marketing strategy to market your property which will allow you to generate consistent income and make the most of your investment.
If you’re unsure how to market your property, you should consider these top tips which will help you advertise and engage potential renters.
Target specific tenants
Choosing target tenants should be the first decision you make when constructing your marketing plan. To establish who your target market is, you should consider the type of property you own and where it is located. This will help you determine the type of tenant who would live there. For example, if you have a modern apartment in the city centre, you’re best targeting young professionals who are looking to be close to work and leisure activities. You could also convert your property into student accommodation, especially if it is in proximity to local universities, where you will gain significant interest.
If you own a home in a suburban area, you’re best targeting families, who will be looking for a quiet and safe area to rent, close to good schools. If you have a garden in your property, this will also be attractive to families, as will a nearby park. You need to make sure you consider all these elements before marketing your property because if you don’t target the right audience, you will not receive the financial benefits you hoped for.
Once you’ve established your target market, you will then need to show off your property. The best way to do this is by taking good-quality pictures of both the exterior and interior of your property. You should also make sure that you get as many images as possible, as tenants are more attracted to properties if they can see everything they have to offer.
To ensure your images are high-quality, you could consider hiring a professional photographer. If this is not within your budget, you can get great images yourself by trying out different lighting to enhance the rooms in the property. To do this, you could take inspiration from luxury listings which use outdoor lighting to illuminate their outdoor space – making the property more appealing.
Another great way to showcase your property is by using virtual reality, which is a form of technology that enables the simulation of images or video. In the property sector, it is used for virtual home tours, which offers potential tenants the opportunity to take a look around the property without going out of their way to visit the actual location.
While this may be a more costly solution, it is one of the most effective ways to market your property. This is proven with property companies like RW Invest, who utilize virtual reality to offer a unique experience to investors that are looking for reassurance regarding the purchase of off-plan developments.
Spread the word
Once you have chosen the best images or videos to advertise your property, you need to get the word out. There are numerous ways to do this, especially with the rise of the internet, which enables you to spread the word on social media, and also create listings on established property websites. You could even create an engaging email campaign, which should be sent to target tenants, although you should make sure that you receive their consent before sending anything out.
More traditional methods include posting an advert in the newspaper or even creating flyers. If you want a more personal approach, you could simply use word of mouth, which is especially effective if you have previous tenants vouch for you, as this will offer reassurances to prospective tenants.