Rising vacancy rates in certain cities and the current state of the economy are two good reasons for landlords to invest in an effective marketing plan. Whether you have just a few rental properties or hundreds located across the country, having a marketing plan in place is a sound business decision. Listed below are four effective ideas for marketing your rental properties and your business.
- Create a website. If you don’t already have one, create a website for your business. This site can show off your rental properties, tell potential tenants a little about you and your business, and attract tenants all at the same time. If you don’t want to spend a small fortune on a website (for those landlords with only a few properties), search for a site host that is free or very low-cost. For example, Weebly is a good choice for a simple, free website. Or try GoDaddy.com for an easy, low-cost website option.
- Social networking sites. Facebook, Twitter, and LinkedIn are all useful mediums for marketing. Once you have your website up and running, start using these social networking sites to advertise your rental properties by adding relevant posts, articles, and videos for potential tenants to look at. Ask your friends to recommend your site to anyone they might know who are looking for a rental home or apartment.
- Online ads. Create nice online ads for your rental properties that are currently vacant. There are many online classified sites that are free or low-cost. Make sure to include pictures of the property and your contact information. A good, safe bet to try is Rentalroost.com. Another one is craigslist, but be careful of putting your email address in your information, because of spam and other unwanted email.
- Use a rental property manager. Though it can be expensive, hiring a property manager can definitely pay off in the long run. You can let them handle the marketing plan for you, and they can also complete tenant searches for your vacant properties.