Marshall White Property Management
Our Top Tips on Marketing your Rental Property
In a market environment where there is a high volume of property currently available to lease, effectively marketing your property enables you to stand out amongst the crowd and attract the attention of potential tenants.
The marketing of your rental property is an incredibly important part of successfully leasing your property. In a market environment where there is a high volume of property currently available to lease, effectively marketing your property enables you to stand out amongst the crowd and attract the attention of potential tenants.
Before you put your rental property to market, make sure that it is presented as well as possible. ‘A well maintained home will always lease better,’ says leasing manager Felicity Edwards. If there are any major maintenance issues, particularly anything that impacts the visual appeal of the home, make sure they’re fixed before taking photos and showing prospective tenants through.
Tidying up the garden and making sure the electricity is connected are also important to making the home look attractive and inviting. You want your property to look as though it is well looked after, as good tenants are looking for conscientious owners who take pride in their property and will attend to any issues that may arise through the course of a tenancy.
When a property has been leased before, it can be tempting for owners to want to put it on the market as soon as the tenants have given notice to vacate. However, it can be much harder to market your property effectively if tenants have not yet vacated, as it can cause issues with access to the property and make it logistically difficult to perform any necessary maintenance.
Tenants, on the whole, are also often looking for the best value for money. This means that properties with outdated interiors and older style kitchens and bathrooms are often more difficult to lease. Regularly updating your property, both in terms of regular maintenance and adapting to broader interior and architectural trends, are good ways of ensuring your property is consistently appealing to tenants.
For the marketing itself, a relatively small investment can go a long way. ‘Photos of a property that are taken on an iPhone aren’t going to work,’ Felicity says. Professional photography makes a huge difference in the presentation of a property online, as the photographer is able to highlight the best features of the property and ensure it is presented at its absolute best. In addition, your property manager can keep the professional photographs on file, so they can be used in future marketing materials when the property comes up for lease again.
When your property is in excellent condition and showcased to the highest standard with appropriately selected marketing materials, tenants are able to see it at its fullest potential.
If a property is vacant, owners can invest in ‘virtual furniture’, which involves furniture being digitally added into the photos of a property. This also significantly increases a home’s appeal as it allows prospective tenants to better imagine themselves in the space. ‘With the high volume of property currently available, particularly in the apartment market, tenants will just move on if something doesn’t tick all the boxes,’ Felicity explains. ‘Investing in your marketing gives you the best possible chance of successfully finding a tenant.’
Your property managers can significantly help with marketing your rental property, through providing connections and resources to marketing materials. A leasing board can also be a helpful component of a marketing campaign for a rental property, as it attracts the attention of passive lookers, who may not be actively looking online or through property managers for a rental property but will seize the opportunity if it’s presented. ‘Our team is also able to direct prospective tenants to your property based on our pool of enquiring tenants,’ Felicity says.
Ultimately, marketing can make all the difference between a property sitting on the market and being snapped up quickly. When your property is in excellent condition and showcased to the highest standard with appropriately selected marketing materials, tenants are able to see it at its fullest potential.
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