Is attracting tenants a hassle? You're not alone in thinking so.
About 65% of businesses say generating leads is their top marketing challenge. Unfortunately, 80% of the new leads you do generate won't convert into new tenants.
Without a strong marketing strategy, other landlords will attract those renters instead. To gain a competitive advantage, follow these property marketing do's and don'ts.
With these tips, you can attract renters to your investment property with ease. Boost your occupancy rate today.
Do: Research Your Target Audience
Before using the rest of these real estate marketing tips, research your target audience. Who in Nashville, TN are you trying to reach? Understanding your audience will allow you to personalize your marketing materials.
Personalization will help you forge stronger connections with your audience. You can show potential tenants that you care about their needs and interests.
Don't: Neglect Digital Marketing
Don't solely invest in traditional marketing strategies. After all, 47% of people look at properties online as their first step in the process. If you're not marketing online, you're missing the chance to attract new tenants to your listings.
Use an omnichannel digital marketing strategy to maximize your reach. These strategies include:
- Content creation
- Search engine optimization
- Paid advertising
- Email marketing
- Social media marketing
- Video marketing
Add a call-to-action to the end of any content you create. Direct people to your listing and encourage them to contact you for a tour.
Do: Emphasize the USP
When creating marketing materials, emphasize your unique selling proposition (USP). Your USP will set your property apart from the others available in Nashville.
Stressing your USP will give new tenants a reason to choose your investment property over another. Show them what you have to offer, such as special deals, amenities, or an amazing view. Your property manager can help you choose an effective USP.
Don't: Overpromise and Underdeliver
While it's important to convey your USP, you shouldn't overpromise. Otherwise, renters will be disappointed when they learn the truth. Overpromising can hurt your reputation and ability to attract new renters.
Instead, be honest about what you have to offer. Always keep your promises.
Do: Invest in Visuals
Stand out online with high-quality, eye-catching images of the property. Hire a professional photographer to capture photos and videos of the listing. Make it look as inviting and attractive as possible.
If you need help optimizing your listings, hire a property management company. They'll ensure your listings stand out and attract renters.
Don't: Apply All Real Estate Marketing Trends
Don't jump on every real estate marketing trend you hear about. You could waste time and money on ineffective strategies.
Instead, choose strategies you've seen work for other property owners. For example, you can start posting virtual tours online.
Invest in Property Marketing Services Today
A strong property marketing strategy will help your listing stand out. You'll have an easier time attracting tenants and improving your occupancy rate. Use these real estate marketing tips to ensure your success today.
You don't have to apply these tips alone. Since 2008, Evernest has managed over 16,000 properties for 6,000 owners. We can seamlessly facilitate the marketing, leasing, and management of your property.
We're dedicated to maximizing the value of your rental property. Contact us today to request our property marketing services.
