Top Strategies for Marketing Your Rental Property

Posted on 19 May, 2021

Your business may have already acquired significant commercial or residential real estate, secured comprehensive Dayville Rental Property Insurance and consulted with legal professionals to ensure all relevant regulations are met, but have you thought about how to market your rental property to attract new tenants? To help ensure a maximum return on investment, your business may want to implement these top marketing strategies right away.

Hold a Property Photo Shoot and Stage the Space Carefully

When it comes to selling a home and marketing your rental property, appearances are key. If your business hopes to earn strong returns on its rental property, staging the place properly is non-negotiable. Hold a property photo shoot to attract potential tenants and adjust your staging approach as needed. For instance, a commercial property could be set up to look like an office or a retail space. For residential property, your company might want to:

Do a deep clean of every room to ensure a pristine property for the photos
Choose modern yet neutral décor and furniture that allows would-be tenants to picture themselves living there
Focus on getting good lighting and photo angles

Expand Your Marketing Channels

If your business is already conducting professional marketing across multiple channels, you may already know about the importance of expanding your approach to reach your target audience. To draw in tenants, your business should consider taking the following steps.

Put up posters in your area advertising the property
Post promotional materials to social media channels, including Facebook, Instagram, Twitter, and even Snapchat
Ask local television or radio hosts to give the listing a shout-out
Consider guest blogging for a website that will allow you to link back to your business’s listing website
Send out email newsletters to those who subscribe to your business’s blog or website

Choose a Market-Appropriate Value But Play Up Unique Aspects

Determining an appropriate market value for the property may impact how quickly it rents out. When your business needs to rent a place quickly, for instance, a lower price point than the usual going rate could be a smart choice. Your company can calculate an appropriate asking price by doing the following.

Conduct comprehensive market research early on to determine what the going rate is for rentals in that location, of that size and of that condition.
Focus on the positive aspects of your property in marketing materials to justify the price.
If you choose a price slightly below market value, highlight it as a great deal.
If you choose a price slightly above market value, discuss the positive perks of the property in marketing materials to justify the price and incentivize potential tenants.

As a business with a real estate portfolio and Dayville Rental Property Insurance, you likely have a vested interest in getting your property rented out. Make sure to give your rental property marketing efforts a boost by using these effective strategies.

About Byrnes Agency

At Byrnes Agency, we offer insurance solutions that can be tailored to meet your specific needs. Whether you’re looking for personal policies or commercial coverage, we have the right coverage for you. To learn more about our products, contact us today at one of our two locations.

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