If you own rental property, any period of vacancy will reduce your income potential and may put you behind in meeting your financial obligations.
Once your property is ready for a new tenant, you should begin marketing it to the public. Knowing how to reach more potential tenants is as important as knowing how to pique their interest in your property.
Don’t Underestimate the Importance of Social Media
Cultivate a strong social media presence and spend at least two hours per day interacting with your followers. When you don’t have a vacant rental unit to promote, share tips related to renting an apartment. Keep your posts engaging and informative.
When you do have a vacancy, post it to your social media accounts. Facebook, Instagram, and Pinterest are the best sites for these types of posts. Make sure to include plenty of pictures of the available rental.
Make Every Open House an Event
Hosting an open house is just as important for a rental unit as it is to homeowners selling a house. Make the open house an event by inviting your current tenants. Consider catering or hosting a cookout. If you’re working with an agent, ask for their insights on hosting a successful open house.
Use Print Marketing to Your Advantage
While the use of social media and digital marketing is helpful, it shouldn’t be the only approach you take. Print media is highly effective, especially when you need to target a specific geographical location.
Print out flyers, signs, and posters you can share within your community. There may be people in your area looking for a new place, even if they don’t spend much time online.
We’ll Simplify Property Management for You
Reliable Property Management can help you fill vacancies in your rental units in addition to providing other property management services. To learn more about how we can help you, call (443) 869-3799 or contact us online.