When you purchase your rental property, you often have an idea in mind of who the perfect tenant would be. For instance, if you invest in a single-family home down the street from an A-rated elementary school, there is a good chance you have a young family in mind for the property. Or perhaps you have invested in a loft in the middle of downtown and you think it’d be perfect for a young, single, up-and-coming executive or an entrepreneur. Whatever your ideal tenant is, you have to make sure that you are marketing the property in a way that you will reach them. Here’s how you can do that.
Know your ideal tenant. This is, of course, the first step. After all, you can’t market to someone if you don’t know who they are, can you? Nope. You need to have an idea of the tenant you are seeking. For instance, what age range, what they may enjoy doing for fun, what matters to them in a rental, good employment, pets or no pets, kids or no kids, etc.
Then, once you have an idea of what your ideal tenant looks like, you can focus on their qualities in order to reach them.
Make your ideal tenant want your rental. Entice your renter by making your rental appealing. Make any necessary renovations or upgrades that could catch their attention. When marketing with photos, be sure to focus on these key features. In your ads for the vacancy, be sure to focus on neighborhood parks, such as that A-rated school, parks, entertainment, walkability, or nearby public transportation. Think about what your ideal tenant would benefit from in the neighborhood and be sure to include it in your rental ad.
Market online. Speaking of pictures, when you market online, you can use a lot of photos – and catch the eye of potential tenants. Use ad space on all sorts of internet rental sites and social media. By including your pictures, you can spark interest.
Be an ideal landlord. Tenants go through a screening process, but landlords do, too. It’s just not as formal. The potential tenant wants to know that you are going to be respectful and communicative should issues arise. In other words, be professional when meeting with your ideal tenant or you could end up losing them.
Keep up the outside appearance. Often, those seeking rentals will drive-by before spending the time to see inside. They want to get an idea of the surroundings and whether or not the place looks well-kept. If possible, update the landscaping and keep the property looking nice. And, if you want to go the extra mile, add a few key features that make it look even better, such as solar lights along the walkway or driveway or a new mailbox. These small additions can add a lot of appeal.
There are many things that you can do to find the right tenants for your property. Just remember that before you can take that first step, you absolutely must know who you are marketing to. The more you do this, the easier your marketing will become.
