The US rental vacancy rate increased from 5.8% to 6.6%. If you have a high number of vacant Long Island rentals, it's time to make a change! Develop a thorough property marketing strategy to reach more renters online.
Here are a few effective landlord marketing techniques you can use to increase your online visibility. Generate applications and boost your occupancy rate today.
Enhance the Rental Property
Explore the rest of Long Island's rental property market. Compare your property to others. What's missing?
Consider making a few strategic property upgrades to enhance the property and increase its value. For example:
- New floors
- Energy efficient windows
- New kitchen appliances
- Fresh paint
- New exterior doors
Clean, remove clutter, and hire a staging company. Professional staging can make the property more attractive to local renters.
After completing a rental analysis, set a competitive rental rate. Adjusting your pricing can give you an advantage in today's market. Work with a property management company to maximize your rental income.
Update the Online Listing
Optimize your rental property listing. Ensuring it's attention-grabbing can lead to more applications.
Highlight essential details, including:
- The number of bedrooms/bathrooms
- Square footage
- The rental rage
- Unique amenities and special features
Market the experience living in the area can offer renters. Mention nearby venues, restaurants, and attractions.
Incorporate high-quality photos and engaging video tours to help the property stand out. These elements will captivate your audience. You can increase the chances you'll generate qualified leads.
End the listing with a compelling call to action. Leave your contact information and encourage them to schedule a tour in person.
Design Digital Ads
Use digital advertising to appear before Long Island renters as they search for available properties. With Google Ads, your advertisements will appear on Google's search engine pages. With Facebook Ads, you can appear on Facebook and Instagram.
Target renters based on demographic information (such as age or location). Create compelling ads that encourage them to learn more about the rental property.
Reach Out on Social Media
Engage your target audience on social media. Share stunning photos and video tours to show off the rental property.
Reach local renters by adding relevant, location-specific hashtags to your captions. End each caption with an urgent call to action.
Talk to Your Tenants
Your current renters could help fill more vacancies. Develop a referral program and ask if they can send friends your way.
Incentivize renters by offering a discount on rent or a gift card to a local restaurant. Convey your gratitude afterward.
Hire a Property Management Company
Instead of developing a real estate marketing plan alone, hire a property management company. Their marketing services can save you time and increase your ROI.
Choose a company that uses a mix of traditional and digital marketing strategies. They'll generate visibility for your rental properties.
Attract Tenants With Property Marketing
Learning how to attract tenants is essential if you want to remain competitive in today's real estate market. Use these property marketing tips to get started. Otherwise, hire a property management company.
Our team at PMI Gold Coast Properties can maximize your rental income using state-of-the-art technology and award-winning strategies. Rely on our 20 years of industry experience. Contact us today to discover your landlord marketing plan.
