New Kent and the greater Williamsburg area has a competitive rental market, and if you’re getting ready to rent out your own investment property, you’ll need a strategic marketing plan in place. With good marketing, you can limit your vacancy time. That puts more money in your pocket because vacancies are expensive. Not only is rent stalled; you’re also paying for things like maintenance, cleaning, and utilities.
Limit your vacancy loss with these effective and easy marketing strategies.
Establish a Competitive Rental Value
Pricing your rental home is an important part of the marketing process and it also impacts your vacancy time. While you want to earn as much as your property is worth, be careful about overpricing it. When tenants are scanning rental ads, they’re not going to bother looking at a home that’s priced beyond what the market will allow.
Evaluate similar homes to yours in the same location. You’ll get an idea about the rental range. Factor in your property’s condition, size, and unique attributes and amenities. When you market your home with the right rental price attached to it, you’ll get an immediate response. If your price is too high, you’ll notice no one is interested in seeing it.
Property management companies in New Kent are a great resource to evaluate and determine fair market value for your property. They can provide valuable insight into market conditions and tenant’s property selection behaviors.
Take Professional Marketing Photos
Can you guess what prospective tenants will look at first when they’re scrolling through listings?
If you guessed photos, you’re right.
It’s really the first impression renters will have about your property, and you have to make it count. Don’t snap quick photos with your phone. Take the time that’s necessary to capture great pictures that showcase your rental property. Make sure the lighting is right and get photos of rooms from the best angles. Make sure to review and edit your photos, you can do so with simple editing software.
Include pictures of the outside of your property as well as the kitchen and bathrooms. Tenants will also want to see the living area and the bedrooms. If there are any unique features in your rental home such as walk-in closets, a garage, or outdoor space, make sure you include those photos as well. A shot of the front door is also something you should include.
Keep Descriptions Concise
The listing includes a description to go with your photos, and you need to make every word count. While you want to share as much information as possible, tenants have a short attention span. They’re not going to read long paragraphs.
Be concise but detailed. Use words that will grab their attention. Include relevant information, such as the number of bedrooms and bathrooms. Don’t forget to write when the property will be available, how much rent it’s going for, and whether pets will be allowed or considered. You’ll need your contact information in the listing as well.
Online Advertising for New Kent Properties
Most tenants are looking for rental homes online. You can put a For Rent sign in the yard and share your listing on social media, but you want to make sure you’re leveraging the hundreds of rental platforms that tenants are using. These include Zillow, Zumper, HotPads, Trulia, Rent Café, and countless others.
Listing your property on these sites one at a time will be labor-intensive. Instead, utilize a syndication service that will allow you to get your listing on a number of well-trafficked rental sites. Property management companies, like Berkeley Realty, have established platforms for streamline syndication of listings.
Finally, make sure you follow up on inquiries promptly. Responsiveness is a big part of rental property marketing. When a prospective tenant calls or emails about your property, make sure you provide the information they need and offer to schedule a showing.
Avoid long vacancies with good marketing. Professional New Kent property management can help streamline the process and really reduce your vacancy. If you’d like some help, please contact us at Berkeley Realty Property Management.