Today we are going to talk a little bit about marketing your rental property. Before you even begin marketing, you need to get that property rent ready. That’s something a lot of people forget to do. Sometimes, clients want us to get their home on the market while tenants are still living there, and we know work needs to be done on the house before we can show it. We like to make sure the property is absolutely ready to go before we start the marketing process. That way, when a tenant comes to see it, that tenant can fill out the application and be ready to go right away.
It’s one thing if the house is just a little bit messy and all you need to do is get a broom in there or wipe down the counters. That’s not ideal, but it’s something you can certainly work with. However, if it needs a fresh coat of paint or new carpet, save yourself a lot of headaches and a lot of days on the market by getting it ready before you start the marketing process. It will cost you more money to have a property on the market that isn’t ready to rent.
Once you’ve done everything you need to do, you can start your marketing. The most important thing you can do is be online. You have to list your property on multiple rental sites so you can gain maximum exposure. You also want to market to real estate agents. We have found that those agents have access to the best tenants. At Richey Property Management, we have access to the Multiple Listing Service (MLS). You probably won’t have access to that if you aren’t working with a property manager, so be proactive by talking to agents about your property. There’s a low inventory right now, so they will appreciate hearing from you.
You can help your listing stand out by doing some video. Walk through the house with your iPhone and take a video or at least take some really good photos. Describe the property and the benefits to it. You want to set your listing apart from others so potential tenants will take notice. Once you have your property out there and you start getting calls, be ready to show it right away. Most people want to move in within two or three weeks once they see the place, so be ready.
If you need any other advice about marketing your rental property, please contact us at Richey Property Management.
