It’s all good when there are buckets of tenants interested in your properties, however, what do you do when you have properties that need filling with not one prospect in sight?
We have some tips on how to generate some interest and make sure you’re giving yourself the best opportunity to attract good tenants.
Write great copy for advertisements
Make sure your real estate ad is easy to read, engaging and descriptive. The ad copy should contain location or amenity keywords that will help potential renters find the listing. Additionally, if the property is located near schools, public transport or a town centre, be sure to highlight these as benefits.
Also, when writing real estate ad copy, it is a good idea to choose a target audience that you want to attract:
- Would the property you are trying to lease suit young professionals and is this target market actively looking in the area?
- What features of the property or the location would appeal to young professionals?
Be sure to work these into your ad copy. By focusing your marketing on a specific audience, you can get a much better response and lease the property quicker than trying to talk to everyone with your ad.
Make sure photos are high quality
A survey carried out by America’s National Association of Realtors revealed 80 per cent of people across the country who bought a new home in 2006 used the Internet while house hunting, and they rated photographs as the most useful tool in their search. Although the survey was conducted on an American audience, it is safe to assume that photos will play an equally important role in Australia.
First impressions last, so if someone looks at an ad for a rental with poor photos, chances are they won’t bother inquiring. Having poor quality photos also reflects badly on you as a property manager, as it could be interpreted as a lack of professionalism which could not only deter potential tenants but owners looking for a property manager as well.
Having just a single photo isn’t usually going to stir up the ideal level of interest either, people will still have unanswered questions that you need to try to answer with your photos. Things like:
- We do like to entertain guests often so what does the kitchen look like?
- I’m really looking to wake up to a nice view every day so the bedroom must have a large window and not be too small
- We have kids so the backyard needs to have enough space for them to play
- Include multiple photos in your listing that cover different parts of the property.
Learn more about How to Take Great Real Estate Photos with Brad of BoxBrownie.com.
Don’t forget about word of mouth
Often forgotten about, word of mouth can play a huge role when finding a new tenant to fill a vacant property. Think about letting your current tenants know that you have a vacant property, as they may have friends or family that are looking to rent. Bring it up in conversation with your hairdresser, family members and friends, you never know where it could lead.
Does your business have a Facebook page, or do you use Twitter? Posting your vacancies on various social platforms is another way to show what’s on offer. There are Facebook groups that you can join where you can post your listings, and if there is not one in your area, create it yourself and invite people to join!
Social media ads have also come a long way in the last couple years and with the targeting options available, you could even show your ad to people of certain ages in certain postcodes and choose whether they are single or in a relationship. These are all things that can help you show the right message to the right audience for the right property. Facebook seems to have the best targeting options at present so it might be a good place to start.
Learn more about How To Grow Your Property Management Business Using Facebook.
Be fast when replying to enquiries
If you don’t reply in a timely manner to requests, other property managers will. Be sure to respond with as much information as possible, and encourage a viewing to ensure face to face time with the potential tenant. The Harvard Business Review found that leads contacted within an hour were 7x more likely to yield a positive outcome. The quicker you can respond to the enquiry, the more likely you are to get that all important viewing.