Rental Property Management
There was a time when advertising your rental property was just a matter of erecting a ‘For Rent’ sign in your front yard. With digitization, the process has become a little more complex, but also much more rewarding. If done right, you can quickly fill in your house with tenants and minimize vacancy.
Vacancy eats away your profits. The purpose of building a house and renting it out, after all, is to earn a plump profit. We’re going to give you 3 simple ways in which you can advertise your property efficiently to cut down on vacancy time and increase profits.
Hire a Property Management Company (vs a Broker)
Yes, we are a property management company ourselves, but don’t get us wrong we aren’t shamelessly promoting ourselves. The concept of hiring a broker to find tenants is very prominent and widely used because as a homeowner, you don’t always have the time to advertise and show your property to potential tenants. But, brokers take a hefty fee from you and the tenants (often driving prospects away). They also don’t have any responsibility towards your property, so they don’t care about its condition.
This attitude changes with a property management company. Firstly you pay a lump sum fee that covers ALL property management services. There are quite a few which I won’t get into now, but you can read this article to know more: What is a Property Management Company & What Do They Do?
Getting back to the point, finding tenants, verifying tenants, and renting out your property is one of the many services. I’m going to cover some more advertising steps going forward in this article, and a property management company will handle all of them on your behalf, for no extra fee.
List on an Online Listing Portal
There are quite a few online classifieds and listing portals that you can list your property on for free. You won’t need a middleman and can receive prospect calls yourself. Show the potential tenant the property yourself and seal the deal.
You will, however, need to write a compelling listing copy, click and use attractive pictures of the property, and ensure all details are accurately entered. Don’t make the mistake of missing a ‘0’ in the rent amount and go through the trouble of wasting your time and your prospect’s. Here is a list of house and apartment listing portals you can use:
Propadis (Yup, we have our very own listing portal)
Advertise on Social Media
A majority of the population covering a wide demographic is online on some social platform at all times. You can easily reach out to a prospective tenant by advertising on social media channels like Facebook, Instagram and LinkedIn. Facebook and Instagram work amazingly well for the real estate sector.
You can create a post on Facebook on your personal profile, and then boost it using their ‘boost post’ option. Also, you can list your property on different groups and pages that are rental related. You can create a custom advertise and directly collect leads on Facebook.
Same goes for Instagram. Click some stunning pictures of your property and advertise them as a story and a post.
With technology, it’s is very convenient to find tenants from the comfort of your living room (or wherever our laptop is). The difficulty, however, is in the number of options available. There are quite a few listing websites and social media platforms, and you can end up spending money on these platforms without getting anything in return. Doing it right is very important.
That is why, while concluding, I’d like to stress how Propadis not only makes it convenient for you to find tenants for your house, but also makes it efficient and the cheapest option. Give us a call, or drop in a message. Let’s talk it out. Ciao!