Optimizing Your Rental Property Advertising in Today’s Market

October 25, 2023 0 comment

By Eric Davis

The rental housing industry has undergone significant transformations since 2020. The introduction of new regulations for landlords and tenants has added complexity to the sector compared to previous years. Additionally, extended lockdowns have influenced the behavior of both prospective and existing tenants. While some of these shifts have presented challenges for housing providers, others have created new opportunities, particularly in how renters search for homes.

A photo displaying social media platforms.

A crucial step in creating an impactful property listing is enhancing its visibility. Today’s technology allows for a quick glance at a potential tenant’s Facebook profile to gain insights into their genuine interest in your property. Facebook’s integrated marketplace feature allows for automatic responses to inquiries about rental availability, making in-app communication more accessible. Furthermore, listing properties on the Facebook marketplace is user-friendly, with the option for immediate photo uploads using your mobile device.

Zumper is another noteworthy platform to consider. Listings on Zumper benefit from increased visibility on platforms such as Facebook Marketplace, PadMapper, and Walk Score, expanding your audience reach in the digital age. Notably, Zumper offers a comprehensive solution catering to various rental business needs, including rent collection features, making it a valuable option for those managing a few units.

Nevertheless, platforms like Zillow remain a top choice for many due to their reputation for reliability. Zillow offers free property listings, and an upgraded option can boost your property’s visibility by appearing at the top of area-specific search results.

An image of a stage home.

A notable trend is that tenants now visit fewer properties before making a decision. Consequently, the quality of your listing’s photos becomes paramount. Most tenants prefer unoccupied spaces, as it allows them to visualize their life in the property. However, tastefully staged homes with neutral furnishings, open spaces, and cleanliness can foster positive visualization.

After choosing the ideal platform(s) for your listings, the next challenge is presenting your property attractively. Highlight your rental’s unique features, invest in high-quality photography, and ensure the property is immaculate and ready for viewing. In the post-COVID world, many people continue to work from home, so if your property accommodates a home office, it’s a feature worth emphasizing. Proximity to essential amenities such as parks, supermarkets, and eateries can further enhance its appeal.

A sample of the home office.

Market timing is also crucial. Summer is undoubtedly the peak season for the rental market, driven by factors like academic calendars and favorable weather. Rent rates tend to rise during these months due to increased demand. If you’re entering the winter market and face prolonged vacancies, consider offering shorter 6-month or extended 18-month leases to align with peak seasons in the future.

To sum up, in this evolving rental landscape, success in securing tenants can be achieved by leveraging technology, understanding market timing, and presenting your property in the best possible light.

Davis Property Management

At Davis Property Management, we provide fast, friendly, and professional service tailored to your individual property management needs.