Can you believe that around 36% of people in America rent instead of own their homes?
Real estate investing will always be a brilliant venture since the market will always grow. Buying your own home can lead to long-term gains once you sell your home, but the beauty of buying a rental property is that you can earn a steady stream of income while you wait to sell.
If you want to maximize your income, then you need to take some time to learn about property marketing. Read on if you'd like some of the top tips that can help you develop a strong, diversified strategy.
1. Offer an Enticing Leasing Incentive
People have a hard time resisting a good deal. Since there are so many rental properties to choose from nowadays, offering a cool leasing perk can shine a spotlight on your business.
One of the most common tricks to grab people's attention is to offer one month of free rent when people sign a lease for a year. You could also waive application fees.
2. Invest in Professional Photography
People are visual creatures, so you should never underestimate the value of taking high-quality photos of your rental property. Hiring a professional photographer means that they'll use an incredible camera and use their skills to capture the property in the best light.
If people are impressed by these photos, then you can bet that they'll do more research and get in touch for an in-person tour.
3. Build Your Social Media Presence
Around 4.5 billion people around the world use at least one social media platform on a regular basis. This means that any business owner who isn't on social media as well is missing out on connecting with their target audience.
Not only does social media allow you to post flattering photos of your rental property, but you can also interact with interested renters and provide great customer service.
4. Create a Video Walkthrough
Pictures are always a wonderful place to start, but a video walkthrough can help people determine how interested they are in becoming renters. Since setting up appointments to tour multiple properties is exhausting, you'd be doing potential renters and yourself a big favor by posting an extensive video walkthrough.
You can save time by only going on in-person tours with people who are truly interested in the property.
5. Consider Hiring a Property Management Company
One of the best landlord tips out there is to team up with a property management company. They can take over any tasks you need help with from marketing to collecting rent and so much more.
Whether you want to be a hands-off property owner or delegate a few select tasks, a property management company will be happy to customize your service.
These Property Marketing Can Take Your Finances to the Next Level
Property marketing is the key to success. If you follow these real estate tips, you can get incredible results.
Do you own property in the Denver, Colorado area? Investor's Realty would love to help. Contact us to learn more about our property management services.