As a landlord or property owner, your main goal should be to minimize rental vacancies and optimize financial gains. Attracting stable and responsible tenants can be challenging, considering the vast number of apartment hunters. However, successful advertising can help you present your property as the best option available in the market. This guide explains the importance of advertising your property and provides professional tips on how to effectively accomplish this.
Why Is Advertising Your Rental Property Important?
In the world of rental properties, advertising plays a crucial role in attracting potential tenants. There are always people searching for apartments that can fulfill their needs - a place to live, work, and relax. As a property owner, you have the opportunity to meet those needs and more.
Renting out real estate can be a competitive market, with renters having specific requirements. It's crucial to accommodate their needs reasonably to stay ahead.
However, it's essential to remember that managing a rental property is a business. Effective advertising is a must to attract the best tenants and minimize vacancies. By crafting a compelling narrative in your advertisement, you can highlight the unique qualities of your rental unit and convince prospective tenants to secure it promptly. This approach ensures that you find reliable tenants who are willing to sign the lease without hesitation.
How Should I Advertise my Rental Property?
The best way to advertise your rental property is online. Luckily, Apartments.com allows you to list your property and showcase it to millions of renters. If you use Apartments.com, applicants will be able to apply directly on the site. Then, you can screen applicants through TransUnion, which gives you information about prior evictions, criminal history, and credit history. Once you have chosen your tenant, you can generate a fully customized, state-compliant lease. From there, you can collect rental payments and receive maintenance requests all through Apartments.com.
A Step-By-Step Guide to Advertise a Rental Property
Even though using Apartments.com is a great way to advertise a rental property, there are other things you can try to help maximize your pool of prospective tenants. With that goal in mind, here are 12 steps to advertising your rental property efficiently.
1. Evaluate your target audience
The first thing on your to-do list is contemplating who your target audience is. Identifying who might want to rent your property can help you play up the features that matter most to them. For example, if your home has a quiet study space or is located within walking distance of a college campus, mentioning these features in your ad can draw the attention of student renters.
2. Take high-quality photographs
Taking clear photographs is one of the most valuable components you can include in your advertisement. Pictures often serve as a prospective tenant’s first view of your rental property and are usually the first thing renters look at on a listing. With photographs, renters can better assess if your property meets their unique tastes and standards. Here are a few tips to help you use pictures effectively:
- Use proper lighting to improve the clarity and resolution of your images.
- Ensure your property is clean of trash and debris.
- Capture the rental property from flattering angles (inside and outside).
- Stage the inside of your property naturally so renters can envision themselves living in it.
- Take pictures of all the key areas, including the bedrooms, bathrooms, kitchen, major appliances, dining room (if applicable), living room, outdoor spaces, and any additional areas that express the atmosphere of your property and surrounding community.
- Use a high-quality camera, if possible, with a wide scope that can capture most of each space.
- Use a smartphone camera if you don’t have a high-quality camera.
- If necessary, hire a professional real estate photographer.
3. Write a catchy property description
The property description highlights your property’s best qualities. It should be catchy, fun, and engaging. Describe your rental in a way that illustrates a beautiful image and informs renters why it is so special. For example:
“This 1920s vintage apartment features the original shining hardwood floors and large French windows letting in copious amounts of natural sunlight.”
4. Include information about the rent, lease, and fees
While the beautiful prose and pretty pictures are always helpful for engagement, renters need to know the technical elements of your rental property. Include pertinent information like the rent, leasing rules, and fees.
5. Emphasize any recent additions and upgrades
Highlighting new upgrades and additions is beneficial because they improve the value of your rental property, attract more candidates, and enable you to leverage those upgrades to charge higher rent. If you choose to advertise on Apartments.com, you can easily include some of these amenities in your listing. Some standard upgrades and amenities you should showcase include:
- Kitchen upgrades
- Bathroom updates
- New modern appliances
- New lighting
- New painting and renovations
- Any features you added that were not in the rental originally (built-in bookcase, French doors, etc.)
- Security system
- Smart home additions (smart thermostats, wireless doorbell, etc.)
- Washer/Dryer
It would also be wise to mention other benefits like:
- Parking access
- Utilities (Cable, internet, etc.)
- Storage and closet space
- Patio
- Garage
- Security system
6. Disclose any restrictions
As with any property, you’ll need to set expectations about what is and is not permissible for potential tenants living on your property. Make sure to include very clear rental and property restrictions to avoid confusion. These rules in your advertisements help you weed out candidates unwilling to abide by them, such as pet restrictions or HOA regulations.
7. Include the screening criteria
You don’t need a background check to know that some apartment hunters are not a good fit for your rental property. Including the screening criteria in your advertisement informs renters how they can qualify. You want a higher percentage of applicants who can meet the requirements, which encourages a more prosperous landlord-renter relationship in the long run. For example, clearly state the following in your property description:
- No pets over 50 pounds
- Renter must make at least three times the monthly rent in income
- We offer 12-month leases or month-to-month options
By stating this upfront, you will weed out low-quality applicants who don’t meet the criteria for your rental property.
8. Incorporate a video and 3D virtual tour
Visual media is a surefire way to attract applicants because it helps them envision themselves within your property. Pictures are still great, but a 3D virtual tour and video will put potential tenants directly inside the unit and give them a 360-degree experience of the layout. With your mobile phone, you can easily create a 3D virtual tour and video of your rental property, but make sure to use a high-quality camera with ample lighting.
9. Display the dimensions and floor plan
Renters are as diverse as the rental properties they occupy. People have different living needs and will seek out a place that meets those requirements. Therefore, a legitimate advertisement should display the property's dimensions, floor plan, and size so applicants can accurately determine if a property is right for them.
10. Promote shared building amenities
A rental property has greater appeal when there are shared amenities residents can use. If your property has amenities like a pool, gym, library, or computer room, you should highlight them front and center in your advertising.
11. Promote nearby amenities
No matter how lovely your rental property is, the unit is only one factor applicants consider in their decision-making. Nearby amenities are a convenience that many people want to enjoy. You should emphasize those benefits if your property is near any notable amenities, like grocery stores, hiking trails, parks, restaurants, specialty businesses, or entertainment centers. Luckily, if you advertise your property on Apartments.com, any amenities will already be listed.
12. Offer in-person apartment tours
When it comes to advertising an in-person apartment tour, timing is critical. You’ll want to choose times accommodating to the largest pool of prospective tenants. Weekend and evening tours may be the most convenient times for applicants because that is when most people are off work.
What are some other ways I can advertise my rental property?
Here are some other ways you can advertise your rental property:
- Putting up a “For Rent” sign.
- Putting an advertisement in the local newspaper.
- Putting up flyers around town.
- Post images of your property on social media
Digital advertising and online rental listings are the best way to get in front of renters, but these supplementary resources can help, as well. To make your listing stand out from the rest, create an ad featuring a comprehensive property description, high-quality photos, and a video. By placing your ad on Apartments.com, you can reach millions of potential renters and turn your vacant property into a rented one.
